Sky Price (SKY)
- Here you can see the current Sky price (SKY) and an overview of its historical.
- As of today (30.07.2026), the current Sky (SKY) price is at 0.0503 EUR, a -1.02% decreased as the previous day (29.07.2026) of 0.0508 EUR.
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As of today (30.07.2026), the current Avalanche (AVAX) price is at 5.61 EUR, a 0.10% increased as the previous day (29.07.2026) of 5.60 EUR.
Sky - Price Data
- High 24h
- 0,0512 €
- All Time High
- 0,0957 € 47,6%
- Days since All Time High
- 603 (04.12.2024)
- Low 24h
- 0,0492 €
- All Time Low
- 0,0343 € 46,5%
- Days since All Time Low
- 292 (10.10.2025)
Sky - Market Data
- Popularity
Popularity by market capitalization. The cryptocurrency with the highest market capitalization ranks 1st.
- Rank 53
- Trading Volume
A measure of the trading volume of cryptocurrencies on all tracked platforms in the last 24 hours. This volume is continuously tracked over the entire 24-hour period without opening or closing times.
- 7.762.341,00 €
- Max Supply
The maximum number of coins set during the lifetime of a cryptocurrency. This is comparable to the maximum number of shares that can be issued on the stock market. Maximum supply = theoretical maximum as set in the code.
- 23.462.665.147
- Market Cap
Market capitalization is calculated as the current price multiplied by the circulating supply. This term refers to the total market value of a cryptocurrency's circulating supply. It is comparable to the measurement of the stock market where the price per share is multiplied by the number of freely available shares.
- 1.175.203.651,00 € 1,3%
- Circulating Supply
The amount of coins circulating in the market and publicly tradable. This is comparable to the consideration of shares available in the market.
- 23.375.025.040
- Total Supply
The number of coins that have already been created, minus any coins that have been removed from circulation. Total supply = blockchain supply - removed tokens.
- 23.462.665.147
powered by Coingecko | Last updated: 2026.07.30 12:56
SKY calculator:
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Table of Contents
Key facts about the Sky price at a glance
- The former MakerDAO protocol was rebranded to Sky in 2024. MKR transitioned into the governance token SKY, and the stablecoin DAI was converted into USDS. The Sky price therefore reflects the valuation of one of the most established DeFi protocols on Ethereum.
- At the core of the ecosystem are USDS as an overcollateralized stablecoin and yield products such as sUSDS, stUSDS, and Sky Vaults, which allow users to earn interest on stablecoins. SKY serves as the governance token.
- SKY is an ERC-20 token on Ethereum with a supply cap of approximately 23.5 billion tokens – roughly 23 billion of which are in circulation. With a market capitalization of over 1 billion euros, Sky ranks among the larger DeFi governance tokens.
- The medium- to long-term trajectory of the Sky price depends heavily on how well USDS and the Sky agent structure ("Stars") are adopted, and whether the protocol can successfully execute its multi-stage "Endgame" roadmap, including dedicated SubDAOs and a potential new chain.
- The Sky price has no connection to the project Skycoin (SKY). Both coins share a similar name and the same ticker symbol.
Sky (SKY) is the governance token of the Sky Protocol, which emerged from the well-known DeFi project MakerDAO and is now built around the stablecoin USDS and various yield products for stablecoins. In this article, you’ll learn how the SKY price has developed since the rebrand, how the Sky price is calculated, what factors influence it, and which current developments in the Sky ecosystem are worth watching.
How is the Sky price calculated?
As with any cryptocurrency, the Sky price is determined by supply and demand. However, the parameters are shaped by the protocol’s tokenomics. The following factors are particularly relevant for the SKY price:
- Conversion from MKR to SKY and supply: SKY was introduced as an upgrade to MKR. Existing MKR holdings can (or could) be converted at a fixed ratio of 1 MKR to 24,000 SKY. This conversion mechanism controls how much of the maximum possible supply actually enters circulation and distributes governance rights to former MakerDAO investors.
- Governance and backstop function: SKY replaces MKR as the primary governance asset and serves as the final safety layer in the event of undercollateralization. Decisions on fees, collateral types, or new “Stars” influence the long-term attractiveness of the protocol – and thus indirectly the demand for SKY.
- Reward mechanisms and deflationary design: SKY holders can earn additional returns through programs such as Sky Token Rewards or other incentive models. This creates an incentive to hold or stake SKY. At the same time, the protocol’s long-term plan envisions gradually reducing the effective supply, which can support the Sky price if demand remains stable or grows.
What influences the SKY price?
While the Sky price is fundamentally determined by order books, specific price movements stem primarily from developments within the Sky ecosystem and the broader DeFi market environment. Key factors include:
- Adoption of USDS, sUSDS, and stUSDS: A key feature of the protocol is yield on stablecoins through products such as sUSDS, stUSDS, fixed-yield integrations, and Sky Vaults. If demand for these products grows, it can strengthen confidence in the protocol and indirectly increase demand for SKY.
- Sky Agent Network and “Stars”: The Endgame plan envisions delegating many functions to dedicated SubDAOs (“Stars”) and executing units (“Executor Agents”). The more visible these Stars become, the more attention and capital could flow into the Sky ecosystem – which may also affect the SKY price.
- Rebranding: Sky emerged from MakerDAO, one of the oldest DeFi protocols in existence, which has survived multiple market crashes since 2017. How smoothly the community transitions from MKR to SKY and from DAI to USDS influences confidence in the new branding – and thus the Sky price.
The SKY price also responds to the general DeFi market environment. In phases of high on-chain stablecoin usage and strong DeFi lending activity, the price typically benefits – and vice versa in weaker markets.
Price history: Key events in the SKY price development
Since SKY as a token has only existed since 2024, its price history is considerably shorter than that of classic altcoins – but it is closely tied to the strategic repositioning of MakerDAO.
- June 2026: Current Sky price
In 2026, the Sky price trades in the low single-digit cent range around roughly 0.05 EUR, with a market capitalization of over 1 billion euros.
In parallel, Sky is expanding its product offering on Sky.money: alongside the established Sky Savings Rate for sUSDS, new fixed-yield products via Pendle, Sky Vaults with strategies on protocols like Morpho, and enhanced stUSDS features are being introduced. Such product launches can – depending on market sentiment – generate positive or neutral impulses for the Sky price. - 2025: Execution of the “Sky 2025” plan
2025 was defined by the operational execution of the Endgame plan, which pushed the price back toward its all-time high – the yearly peak was reached in late July at 0.082 EUR. Despite listings on major exchanges such as Bybit Spot and OKX Futures, the price fell sharply amid broader market weakness. The SKY price closed the year at around 0.05 EUR. - 2024: Rebranding from MakerDAO to Sky
The starting point of SKY’s price history was the rebranding from MakerDAO to Sky: in 2024, the new brand was announced, USDS was introduced as the successor to DAI, and the migration from MKR to SKY was initiated.
During this early phase, the Sky price went through a “discovery period” as the market adjusted to the new token distribution – including a low of 0.041 EUR in October. Toward year-end, the price rose significantly toward 0.09 EUR (all-time high) before closing at 0.06 EUR.
Current developments: Sky price outlook
The outlook for the Sky price is closely linked to the stablecoin sector. The more firmly USDS, sUSDS, stUSDS, and Sky Vaults establish themselves in the DeFi market, the more important Sky becomes as a yield source for stablecoins – with a corresponding positive effect on the price.
At the same time, the SKY price outlook depends on how successfully the Endgame roadmap is executed, including Stars, the agent network, and a potential dedicated chain (“NewChain”). Although the token is technically new, the MakerDAO origins provide an established governance model with a corresponding foundation of trust. This track record can support confidence among DeFi users – though competition in the market continues to emerge.
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