- The value of Sky Token has fallen by greater than 5% following the struggles of altcoins.
- As a result of general market downturn, the token may fall additional.
- Anchorage Digital reportedly transferred over 69 million SKY tokens.
Sky (SKY), the governance asset of the decentralized Sky Protocol (previously MakerDAO), has fallen greater than 5% up to now 24 hours as main cryptocurrencies face downward stress.
After a renewed uptrend in early 2026, Bitcoin retreated to assist at $90,000, Ethereum at $3,000, and XRP at round $2.15.
The elevated buying and selling quantity suggests additional declines are attainable because the token faces important downward stress.
SKY value falls amid large-scale token switch
SKY value is down practically 6% to commerce round $0.056, a decline in keeping with the broader altcoin market weak point noticed on Friday.
Tokens are struggling as profit-taking sells strengthen risk-off sentiment.
Within the case of Sky, sellers have been on high for the reason that value fell from a excessive of $0.096 in July 2025.
The bears additionally examined the assist degree close to $0.041 in November.
Though the current rally noticed patrons transfer above $0.068, the general crypto market appears to be on the upswing, and SKY is following an identical trajectory.
On January ninth, the value drop occurred after on-chain knowledge confirmed that Anchorage Digital, a distinguished institutional cryptocurrency supervisor and federally chartered financial institution, had moved over 69 million SKY tokens.
This important on-chain switch is probably going a relocation for custodial providers, institutional project, or different strategic functions.
Nonetheless, such large-scale transfers usually end in elevated gross sales exercise.
What’s subsequent for SKY costs?
Technical indicators on the each day chart point out that SKY continues to face draw back danger within the brief time period.
The Relative Power Index (RSI) is hovering within the mid-40s, suggesting momentum is weakening and there’s nonetheless room for additional declines in direction of an oversold state of affairs.
On the identical time, the Transferring Common Convergence Divergence (MACD) stays bearish, with the MACD line beneath the sign line and the histogram unfavourable.
Regardless of falling round 9% over the previous week, some buyers stay constructive in regards to the token’s long-term prospects.
Supporting components cited embody continued token buybacks funded by protocol revenues and indicators of elevated real-world utilization.
The info additionally exhibits that SKY’s annual buybacks have elevated sharply together with the surge in income, making the challenge among the many top-ranked protocols by way of buyback exercise.
Whereas Hyperliquid leads the group, Sky ranks second forward of names like Pump.enjoyable, TRON and Solana.
Under are the highest 10 corporations by annual income and their market cap to income ratios.
1.Superfluidity $HYPE – $514 million (12.1x)
2. Sky ecosystem $SKY – $371 million (3.6x)
3. https://t.co/FCQRXgJqew $pump – $368 million (3.5x)
4.Tron $tron – $339 million (82.1x)
5. Solana $SOL – $282 million (280.7x)
6.… pic.twitter.com/pLXz4LAloy— Coinage × DAIC (@coinage_x_daic) January 9, 2026
Sturdy fundamentals may assist bulls counter macro-driven headwinds.
If the bulls take management, bullish value targets embody $0.080 and $0.10. Alternatively, bears could give attention to the lows of $0.050 and $0.037.