While the overall crypto market has struggled through 2026, some protocols have continued to post strong growth. Sky Protocol, which reported record revenue and earnings, was one of them.
How strong has Sky Protocol’s growth been?
Sky Frontier Foundation reported He said Sky Protocol’s annual gross revenue rate reached a record $419.08 million. The June report covered the previous quarterly payment cycle.
According to the report, Sky Reserves closed the month of June at $82.5 million, an increase of approximately $33.7 million compared to March.
Additionally, the cumulative return accruing to Sky Savings USDS (sUSDS) holders has exceeded $250 million since inception.
Meanwhile, sUSDS deposits increased 85% year-on-year from $3.4 billion, while USDS supply increased 96.9% during the same period. Following the strong results, the Sky Frontier Foundation outlined plans to strengthen the ecosystem.
The team plans to lead an ecosystem-wide security strengthening effort to reduce security risks while lowering operational costs.
Have SKY owners responded?
Following the earnings report, native token SKY reported significant gains. The token defended $0.05 before climbing to its local high of $0.06.
During this period, SKY retook both the 20-day and 50-day Exponential Moving Averages (EMAs). At the time of writing, SKY was trading around $0.0602, up 4.98% in the previous 24 hours.
This rise coincided with stronger capital inflows into the protocol. US dollar (USD) inflow increased from $2.4 million the previous day to $120 million.
Moreover, demand has strengthened in both Spot and Futures markets. In futures transactions, inflows rose to $4.16 million while outflows fell to $3.97 million.
As a result, Futures Netflow rose 14% to $190,000, indicating that investors are opening more leveraged positions.
Meanwhile, buyers in the spot market continued to gather for the fourth consecutive day. At the time of writing, Spot Netflow was near -$66,000, indicating that SKY had more left than the exchanges entered.
Can SKY extend its rally?
Strong demand also supported the token’s momentum. Stochastic Momentum Index (SMI) increased to 42.
Although the SMI remains below 50, its steady rise indicates that momentum is increasing.
If the buying demand continues, the indicator may cross 50, strengthening its bullish outlook. This scenario could open the door for a move towards $0.064 in the short to medium term.
However, if the recent gains lose momentum, SKY could decline below $0.06 and revisit $0.056.
Final Summary
- Reserves and deposits continued to grow as Sky Protocol’s annual gross revenue rate reached a record $419.08 million.
- SKY has retraced key moving averages as Spot demand and Futures activity improved, but $0.06 remains a key support level.
