Sky Posts Revenue Growth as Galaxy Allocates $100M to sUSDS and Initiates Token Burns
Sky's revenue surged 49.7% YoY in September 2026, while Galaxy Digital allocated $100M to sUSDS and token burns began.
Sky's revenue surged 49.7% YoY in September 2026, while Galaxy Digital allocated $100M to sUSDS and token burns began. Sky (SKY) is trading at $0.0707, down 0.7% since this brief published. This is an original TLT brief based on reporting by Crypto Economy, with live market data added, as of Sat, 24 Oct 2026 00:45:02 UTC.
The developments highlight institutional adoption of decentralized finance, with Galaxy's $100M allocation to sUSDS and Sky's revenue growth signaling increased confidence and liquidity in the sector.
- Sky's September 2026 revenue rose 49.7% YoY to $30.8M.
- Galaxy Digital allocated $100M to sUSDS for lending operations.
- Sky protocol burned 2.86M tokens under Stage 2 framework.
- Galaxy's TVL at $131.5M, up 5.5% in the past week.
- Injective Burns 7.2M Tokens, Eyes Price Breakout Amid Revenue Growth
- Sky Posts Revenue Growth as Galaxy Allocates $100M to sUSDS and Initiates Token Burns — this brief
Sky, a prominent player in the decentralized finance (DeFi) space, reported a significant increase in gross revenue for September 2026, reaching $30.8 million, a 49.7% year-over-year rise. This growth underscores the platform's expanding influence and the broader adoption of DeFi solutions.
In a related development, Galaxy Digital, a major digital asset management firm, allocated $100 million of its treasury to the sUSDS asset. This move aims to bolster liquidity and support lending operations within the ecosystem. The sUSDS token is now accepted as collateral, enhancing its utility and attractiveness to institutional investors.
The Sky protocol also initiated its first token burn under the Stage 2 framework, permanently removing 2.86 million SKY tokens from circulation. This mechanism is designed to reduce the token supply and potentially increase its value over time.
DeFiLlama data indicates that Galaxy's Total Value Locked (TVL) stands at $131.5 million, reflecting a 5.5% increase over the past week. This growth suggests a positive trend in institutional interest and investment in DeFi platforms.
The broader crypto market remains relatively flat, with a total market cap of $2.78 trillion. 
Bitcoin is down 0.22% in the last 24 hours, while the Fear & Greed Index sits at 51, indicating a neutral sentiment. Sky's native token (SKY) is currently priced at $0.071277, with a 24-hour decrease of 1.69% but a 7-day gain of 0.71%, maintaining a market cap of $1.67 billion.
Since this brief published about 42 minutes ago, Sky (SKY) has moved from $0.0713 to $0.0707 — -0.75%.
The chart plots SKY's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution; intraday detail builds over the first day). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 SKY ≈ ₦97.78 (about $0.0707), down 2.4% over 24 hours. The naira itself trades about 3.9% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 24, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Sky Posts Revenue Growth as Galaxy Allocates $100M to sUSDS — questions & answers
What is the significance of Galaxy's $100M allocation to sUSDS?
The allocation signifies institutional confidence in sUSDS and its role in DeFi lending, potentially driving further adoption and liquidity.
How does the token burn impact Sky's tokenomics?
The token burn reduces the circulating supply of SKY tokens, which could lead to increased scarcity and potential price appreciation over time.
What does Galaxy's rising TVL indicate?
Galaxy's rising TVL indicates growing institutional interest and investment in DeFi platforms, reflecting broader market trends.
How much is 1 Sky worth in naira today?
About ₦97.78 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $0.0707. The naira price moves with both SKY's US-dollar price and the USDT/NGN rate; use our Sky in naira page for any amount.
Has Sky's price moved since this brief was published?
SKY is down 0.75% since this brief first published — trading at $0.0707 now versus $0.0713 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Crypto Economy. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.