Nick Carpinito(@0xMetaLight):Sky is now the third-largest stablecoin issuer at $12.3B, behind only Tether and Circle. $8.1B of that is USDS, up 47% YTD. $5.7B sits in sUSDS earning the Sky Savings Rate. Full breakdown of the balance sheet, Agents, and SKY valuation framework below. Deeper dive on @obexincubator dropping tomorrow

Nick Carpinito

@0xMetaLight

Research @blockworksres / @Blockworks | Cooking @DePINPulse

Joined December 2021

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Nick Carpinito@0xMetaLight

2026.05.13 16:37

Sky is now the third-largest stablecoin issuer at $12.3B, behind only Tether and Circle. $8.1B of that is USDS, up 47% YTD. $5.7B sits in sUSDS earning the Sky Savings Rate. Full breakdown of the balance sheet, Agents, and SKY valuation framework below. Deeper dive on @obexincubator dropping tomorrow