Sky Protocol Token Surges Amid Heavy Whale Accumulation and Strong Fundamentals

Sky Protocol's native token SKY soared to $0.095 this weekend, marking its highest price since December and a 190% rebound from its yearly low. The rally coincides with aggressive accumulation by large holders, with whale wallets increasing their positions by 1,666% over the past quarter.

Exchange reserves tell a compelling story - available SKY tokens plummeted from 304 million to 219.94 million since mid-July, signaling dwindling sell-side pressure. The protocol now commands $6.1 billion in total value locked, with projected annual revenues approaching $350 million, cementing its position as a heavyweight in decentralized finance.

Market observers note the parallel growth in institutional interest and protocol metrics. The top 100 addresses now control 23.37 billion tokens, a tenfold increase that mirrors SKY's ascending market capitalization, now stabilized at $2 billion.