Latest Sky (SKY) News Update

Deep Dive

1. Robinhood Lists SKY Coin (22 January 2026)

Overview: Robinhood announced the listing of SKY Coin on its platform, marking a significant expansion of its crypto offerings. The move is part of Robinhood's aggressive growth strategy following its acquisition of Bitstamp and the development of its own Layer-2 network. SKY, the governance token of the rebranded Sky Protocol (formerly MakerDAO), becomes accessible to Robinhood's nearly 27 million active users. What this means: This is bullish for SKY because it dramatically increases retail investor access and visibility, potentially driving new demand and liquidity. Listings on major regulated platforms like Robinhood often serve as a credibility signal for a project's mainstream adoption. (CoinMarketCap)

2. SKY Among Top Market Movers (22 January 2026)

Overview: During a market rebound, SKY's price rose approximately 11%, making it one of the day's top gainers. This performance occurred as the Real-World Asset (RWA) crypto sector, which includes Sky, led overall market gains with a 2.38% increase, according to sector data. What this means: This is positive for SKY as it highlights the token's sensitivity to positive sector narratives and its role as a leader within the RWA category. Strong relative performance during recoveries can attract momentum-driven capital. (Decrypt)

3. Protocol Executes $1.9M Weekly Buyback (20 January 2026)

Overview: Sky Protocol's decentralized buyback mechanism used 1.9 million USDS to repurchase 29.3 million SKY tokens last week. This is part of a sustained program that has spent over $102 million on buybacks since February 2025, directly reducing the circulating supply. What this means: This is bullish for SKY because it demonstrates robust protocol revenue and a commitment to returning value to tokenholders through verifiable supply reduction. Consistent buybacks can create a structural support for the token's price over time. (CoinMarketCap)

Conclusion

Sky's current trajectory is defined by strategic retail expansion and a firm commitment to its tokenomics, balancing new user acquisition with tangible value accrual. Will sustained buyback pressure outweigh the potential selling pressure from a newly enlarged retail holder base?

Deep Dive

1. @mirkes_: Undervalued fundamentals and regulatory edge bullish

"People sleeping on $SKY are going to find out why they were wrong very soon... Sky operates outside of [the Genius Act], meaning it's much more flexible... P/F ratio at 3.6x is undervalued." – @mirkes_ (834 followers · 2026-01-21 11:07 UTC) View original post What this means: This is bullish for SKY because it highlights a unique competitive advantage in regulatory flexibility and argues the token is fundamentally undervalued based on its revenue, which could attract value-focused investors.

2. @CryptoPulse_CRU: Bullish reversal pattern faces key test bullish

"$SKY could continue higher toward $0.077 (IHS target & ATH area) 🎯 Invalidation: a breakdown back below the neckline ❌" – @CryptoPulse_CRU (29,722 followers · 2026-01-02 12:00 UTC) View original post What this means: This is bullish for SKY as it identifies a classic inverse head-and-shoulders pattern, suggesting a potential trend reversal, but sets a clear price level ($0.077 target, neckline support) for traders to watch for confirmation or failure.

3. @coinotag: Robinhood listing boosts accessibility bullish

"$SKY Robinhood'da listelendi" – @coinotag (54,806 followers · 2026-01-22 13:32 UTC) View original post What this means: This is bullish for SKY because a listing on a major retail platform like Robinhood significantly increases accessibility for a broader investor base, potentially driving new demand and liquidity.

Conclusion

The consensus on SKY is bullish, driven by strong fundamental growth, a deflationary buyback model, and increasing institutional accessibility. However, technical analysis reveals near-term price action is contested at key resistance levels. Watch the USDS stablecoin supply growth as a leading indicator of protocol adoption and revenue, which directly fuels the bullish buyback thesis.

Deep Dive

1. Core Contract Upgrades (19 May 2025)

Overview:
This comprehensive overhaul upgraded four core contracts to support SKY token migration. The changes eliminated IOU token complexity, enhanced flash-loan protection, and introduced migration tools for staked positions.

Key technical improvements include: - Chief Contract: Removed IOU token minting/burning, added lift-operation cooldowns, and revised flash-loan protections (now blocking free+lift in same block). - Vote Delegate: Eliminated hatch triggers and cooldowns, simplifying voting delegation mechanics. - LockStake Engine: Migrated collateral from MKR to SKY, added LockstakeMigrator for one-click position migration, and fixed exit fees at 0%. - Converter V2: Removed SKY→MKR reversal functionality and added governance-controlled conversion fees.

What this means:
This is bullish for SKY because it streamlines governance participation and reduces technical debt, making the ecosystem more secure and user-friendly. The removal of IOU tokens simplifies staking, while enhanced flash-loan protections reduce manipulation risks.

(Source)

2. Delayed Upgrade Penalty (18 September 2025)

Overview:
Activated a penalty mechanism in the Converter V2 contract, imposing a 1% fee on MKR→SKY conversions that increases by 1% every three months to incentivize timely migration.

What this means:
This is neutral for SKY because it accelerates legacy token conversions (potentially reducing supply dilution), but also introduces friction for remaining MKR holders. The fee structure creates urgency while funding protocol development through conversion revenues.

(Source)

Conclusion

Sky's 2025 codebase upgrades fortified its migration infrastructure and incentivized token conversion, strengthening governance participation. How will the increasing penalty fees impact remaining MKR holders' migration decisions in Q1 2026?

Deep Dive

1. Powerhouse Production Release (Q4 2024)

Overview: This is the final development phase (92% complete as of the roadmap data) of the Powerhouse Decentralized Operations Platform (Sky Fusion). It delivers production-grade releases of Sky's core transparency products—Fusion, Connect, Switchboard, and Renown—rebranded under the sky.money domain. The goal is a stable, integrated platform for ecosystem reporting and Real World Asset (RWA) data.

What this means: This is bullish for SKY because it finalizes a critical infrastructure layer, enhancing transparency and usability for developers and institutions interacting with the protocol. A robust platform could drive increased USDS utility and protocol revenue, directly benefiting SKY holders through buybacks and staking rewards.

2. Atlas Rulebook Editor Completion (Q4 2024)

Overview: This milestone (50% complete) focuses on creating the first version of an editor and viewer for the Sky Atlas, the protocol's foundational governance rulebook (Sky Fusion). Work includes analyzing the existing Notion database structure and creating a document model to make the Atlas more accessible and interactive for the community.

What this means: This is neutral-to-bullish for SKY as it improves the clarity and accessibility of governance. Clearer rules can reduce friction in decision-making and attract more participants. However, the direct impact on price is less immediate than financial upgrades, depending on subsequent community engagement.

3. Core Simplification Governance Process (2026)

Overview: This is a strategic, forward-looking initiative. In July 2025, the community began discussing the "Sky Core Simplification Process," a proposal designed to simplify the core governance structure and accelerate the growth of independent ecosystem projects called "Stars" (Sky). This represents the next phase in executing Sky's long-term vision post-rebrand.

What this means: This is bullish for SKY because it aims to increase operational efficiency and decentralize innovation. A more agile core could faster approve allocations (like the $1B to Grove) and feature rollouts, potentially boosting USDS demand and the overall economic flywheel that rewards SKY holders.

Conclusion

Sky's immediate roadmap focuses on finalizing core infrastructure (Powerhouse, Atlas) while its strategic vision pivots toward simplifying governance to fuel ecosystem expansion. This two-track approach aims to solidify the protocol's foundation before accelerating growth. How will the balance between core stability and star-driven innovation shape Sky's adoption in 2026?