Sky is a token. It has no blockchain of its own and no consensus of its own — it rents both from the chains it is issued on, which is why it is listed separately from the cryptocurrencies.
| CoinSpectrum Grade | D · 40/100 · provisional, E to C |
|---|---|
| Type | Token |
| Class | DeFi |
| Backing | Non-backed |
| Market capitalisation | $1.5B |
| Price | $0.0653 |
| Circulating supply | 23,426,371,659 SKY |
| Issued on | 2 chains |
Market data rebuilt every six hours; this build 28 October 2026. Live prices on the ranking.
D — 40 out of 100, provisional (from 7 of 10 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 28 to 58 (E to C).
| Criterion | Score | Basis |
|---|---|---|
| Leading Consensus Mechanisms | 4.9 | group average |
| Host chain | 7.9 | Issued on Ethereum (A, 79/100) |
| Asset class (below every coin family) | 1.8 | Tokens: below every native coin family on the consensus ladders, 0.9 of 10 by largest asset and 2.7 by combined market cap |
| Network security | 0 | No network of its own: secured by its host chain, scored above |
| Decentralisation | 2.7 | group average, 2 of 4 measured |
| Minting and supply (who can mint more) | 5.4 | SKY (0x5607…9279) has mint() gated by 'wards' (the MKR→SKY converter and the Sky governance pause proxy). New SKY needs a Sky governance executive vote.; no fixed maximum supply source |
| Premine (pre-issued at launch) | 0 | Assumed minted in full at deployment, as nearly every token is; launch not yet researched |
| Fundraising | — | No sale, no investor allocation source |
| Holder concentration | — | Not yet measured |
| Supply & Demand | 6.3 | group average |
| Supply & Demand | 6.7 | average of 5 measures |
| Exchanges (10 or more: 10) | – | exchanges not yet counted |
| Daily volume ($10K 0, $1B or more 10) | 5.8 | $6,400,647 traded in 24 hours; #171 by volume on the exchanges the site reads (scored on the median day of the last 2, $8,055,213) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 4 | 0.37% of its market cap a day, median of the last 3 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 7.3 | $2,304,502 within 2% of the price on 9 exchanges, 0.15% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 8 | $1.5B, 8 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 8.5 | futures, options and margin positions 2.1% of its market cap |
| Supply (smaller is better) | 5.9 | fixed maximum supply of 23.5 billion |
| Record (origin, claims, halts) | — | Not yet reviewed |
Ten criteria, weighted equally — for a token, the host chain replaces the developer share, the asset class stands in for the consensus ladders, and who can mint more for the Cryptocurrency Standards. Provisional: criteria marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
| Who can mint more | New tokens only through token-holder governance |
|---|---|
| Fundraising | Private or venture funding |
MKR's 1M genesis mint by the Maker Foundation is the bulk of SKY supply. Later flop-auction mints (2020) and governance-approved SKY reward emissions add an unquantified share.
The Maker Foundation sold MKR privately: a16z bought about 6% for $15M (Sept 2018), and Paradigm and Dragonfly bought about 5.5% for $27.5M (Dec 2019). These are at least 11.5% of supply; earlier 2017 investor purchases are not quantified.
SKY (0x5607…9279) has mint() gated by 'wards' (the MKR→SKY converter and the Sky governance pause proxy). New SKY needs a Sky governance executive vote.
soldPct is at least 11.5% (known VC purchases) but the full figure is unknown. There was no ICO. Current supply is about 23.45B SKY.
Sources: blog.makerdao.com · fxstreet.com · etherscan.io. Researched 2026-10-23, low confidence.
It is issued on 2 chains, which means 2 separate issuances of the same claim. Linked names are chains that are themselves cryptocurrencies with a page here.
CoinSpectrum counts an asset once. A token has neither its own blockchain nor its own consensus mechanism, so it fails both of the site's two conditions — it is a thing issued on a chain, and the chain is what is counted. The methodology states the rule, and the argument for it is set out in full.
Listed, not hidden. The point is that it is measured as what it is.