SKY is the native token of an on-chain decentralized protocol. Over the past day, its market capitalization surged by approximately 10%, increasing by about $178 million to reach approximately $1.78 billion. This rally was mainly driven by the strong momentum in its perpetual market, where trading volume grew by 12% to $27 million, and the Taker buy-sell ratio remained above 1, indicating active buying. Although spot traders have started to take profits, resulting in an outflow of about $5.8 million, this selling pressure remains relatively small compared to the overall capital inflow and is unlikely to threaten SKY's overall bullish structure in the near term. Over the past 15 weeks, SKY's price has formed higher highs and higher lows.