SKY completed its second token burn on October 14, permanently removing 7.37 million tokens from circulation, roughly 2.6 times larger than the first burn.

Price and holder activity diverge

Price moved roughly

↘3%

over 34 hours as of October 15 while tokens moved off trading platforms (net outflow of approximately $0.49M over the past day), though sellers realized losses with the profit/loss indicator at 0.94 as of the latest snapshot.

Token supply shrinks through burns

The second token burn

follows Sky's framework directing 5% of monthly net surplus to token buybacks and permanent removal from circulation.

Stability system holds significant funds

Sky disclosed over $4.4 billion

in stablecoin reserves within its stability system as of October 9, providing context for how the protocol manages its dollar-pegged token.

Trading activity shows mixed signals

Trading showed 1.18 times more buyers than sellers over the past 24 hours with 415 active addresses as of the latest snapshot, while trading volume increased roughly

↗15%

over the past 24 hours.