Sky Protocol Reports 49.7% Revenue Growth as Galaxy Invests $100M in sUSDS
Sky Protocol's September revenue surged while Galaxy Digital allocated $100 million to sUSDS and initiated token burns.
Sky Protocol's September revenue surged while Galaxy Digital allocated $100 million to sUSDS and initiated token burns. Sky (SKY) is trading at ₹6.73 ($0.0709), down 0.6% since this brief published. This is an original Token Times brief based on reporting by Crypto Economy, with live market data added, as of Sat, 24 Oct 2026 01:00:02 UTC.
The developments highlight growing institutional interest in decentralized lending and the protocol's commitment to supply control through token burns, which could impact SKY token value and platform stability.
- Sky Protocol's September revenue rose 49.7% YoY to $30.8 million.
- Galaxy Digital invested $100 million in sUSDS and enabled it as lending collateral.
- Sky Protocol burned 2.86 million SKY tokens under Stage 2 framework.
- Galaxy's TVL increased 5.5% to $131.45 million over the past week.
Sky Protocol reported a significant increase in gross revenue for September 2026, reaching $30.8 million, representing a 49.7% year-over-year growth. This surge indicates strong demand for the platform's services and potential market expansion.
Galaxy Digital has shown increased confidence in the protocol by allocating $100 million of its treasury to the sUSDS asset and enabling it as collateral for lending operations. This move is expected to enhance liquidity and stability within the platform.
In addition to the revenue and investment news, Sky Protocol has begun token burns under its Stage 2 framework, with the first burn removing 2.86 million SKY tokens from circulation. This strategy aims to control supply and potentially increase the token's value over time.
The developments come as 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 stands at 51, indicating a neutral market sentiment. Sky's native token, SKY, is currently priced at $0.071277, with a 24-hour decrease of 1.69% but a 7-day increase of 0.71%.
The Galaxy Digital investment and token burns could be significant for Sky Protocol's long-term growth and stability. Investors will likely watch the impact of these moves on the platform's total value locked and the SKY token's price performance.
Since this brief published about 57 minutes ago, Sky (SKY) has moved from ₹6.77$0.0713 to ₹6.73$0.0709 — -0.58%.
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 Token Times'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 ≈ ₹7.21 (about $0.0709), down 2.2% over 24 hours. The rupee itself trades about 7.1% above the official rate on the P2P market, so a Indian 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.
Token Times 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 Protocol Reports 49.7% Revenue Growth as Galaxy Invests — questions & answers
What is the significance of Galaxy Digital's $100 million investment in sUSDS?
The investment signifies institutional confidence in Sky Protocol and aims to enhance liquidity and stability within the platform.
How does the token burn affect SKY token holders?
The token burn reduces the circulating supply of SKY tokens, which could lead to increased value for holders over time.
What is the current state of the broader crypto market?
The total crypto market cap is $2.78 trillion, with Bitcoin down 0.22% in the last 24 hours and the Fear & Greed Index at 51 (Neutral).
How much is 1 Sky worth in rupee today?
About ₹7.21 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $0.0709. The rupee price moves with both SKY's US-dollar price and the USDT/INR rate; use our Sky in rupee page for any amount.
Has Sky's price moved since this brief was published?
SKY is down 0.58% since this brief first published — trading at ₹6.73 ($0.0709) now versus ₹6.77 ($0.0713) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times 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 Token Times 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.