Sky Ecosystem’s September momentum strengthened after Galaxy Digital disclosed a $100 million addition of sUSDS to its corporate treasury, while the SKY token broke out of a rising-channel pattern on Oct. 2. The announcements came from Sky Frontier Foundation, which on Sep. 23 confirmed Galaxy had approved sUSDS as collateral across its institutional trading business and also purchased SKY, although the size of that purchase was not disclosed. Galaxy’s partnership includes a lending business with an average loan book of approximately $1.4 billion, and clients pledging sUSDS can continue earning the Sky Savings Rate while using the position to back loans.
The ecosystem’s September recap highlighted additional operational growth. The first SKY token burn went live as part of an effort to increase scarcity, @grovedotfinance’s warehouse facility reached 75% utilization, @sparkfinance’s lending business expanded, and USDS supply returned above $10 billion. At the end of Q2, sUSDS supply stood at $5.52 billion, up 149% year-over-year; Sky reported gross revenue of $107.35 million and a net surplus of $33.29 million.
Separately, Stablecoin Development Corporation drew attention after its NYSE American-listed shares rose 115.29% to $3.38 on Sep. 29, with volume exceeding 161 million shares against a 100-day average of 1.62 million. An SEC proxy filing showed the company held about 2.315 billion SKY as of Sep. 13, representing roughly 10% of total supply, linking a large SKY treasury position to U.S. equity markets.
On Binance, SKY traded at $0.09344 after a 10.71% daily gain, with a session high of $0.09494 and low of $0.08231. The daily chart cleared the previous spring resistance near $0.09, while price remained above the 20-day, 50-day, 100-day, and 200-day simple moving averages. The daily Aroon indicator stood at 100% bullish, and the 4-hour chart showed a rising-channel breakout above $0.091–$0.092 with Supertrend support at $0.08162. CoinGlass liquidation heatmaps placed immediate estimated exposure near $0.0947 above price and $0.091 below. A sustained push above $0.095 could bring the round-number $0.10 level into focus, while a retreat below $0.09 would shift attention back to the $0.085 breakout zone.
The earlier double-top scenario near $0.088–$0.089, with a downside target around $0.064, weakened after SKY traded above both cited peaks.
