- Sky token imprint dropped over 5% as altcoins struggled.
- The token might possibly possibly well well fall extra amid broader market weakness.
- Anchorage Digital has reportedly transferred over 69 million SKY tokens.
Sky (SKY), the governance asset of the decentralized Sky Protocol (previously MakerDAO), has dropped by over 5% within the past 24 hours as important cryptocurrencies face downward tension.
After renewed uptrends in early 2026, Bitcoin has retreated to strengthen at $90,000, Ethereum to $3,000 and XRP to round $2.15.
Increased buying and selling volume as the token faces important downward tension suggests there also can very neatly be extra intention back circulate.
SKY imprint falls amid substantial token transfer
SKY’s imprint declining virtually 6% to trade approach $0.056 is a tumble that aligns with a broader altcoin market weakness observed on Friday.
The token’s struggles advance as profit-taking provides to probability-off sentiment.
For Sky, sellers have been on top since prices fell from highs of $0.096 in July 2025.
Bears even examined the reinforce ranges round $0.041 in November.
Most up-to-date beneficial properties saw merchants top $0.068, nonetheless things have regarded traumatic on the upside across the cryptocurrency market, and SKY is following a identical trajectory.
On Jan. 9, the worth decline occurred as onchain recordsdata showed that Anchorage Digital, a whimsical institutional crypto custodian and federally chartered financial institution, had moved over 69 million SKY tokens.
This important on-chain transfer is likely a repositioning for custody services, institutional allocation, or different strategic capabilities.
On the opposite hand, such substantial transfers continuously website off heightened selling job.
What next for SKY imprint?
Technical indicators on the day-to-day chart negate persisted intention back probability for SKY within the approach term.
The Relative Energy Index (RSI) is hovering within the mid-40s, suggesting weakening momentum and leaving room for a further dash against oversold prerequisites.
At the same time, the Transferring Average Convergence Divergence (MACD) stays bearish, with the MACD line below the signal line and a negative histogram.
No topic the most fresh decline of roughly 9% over the past week, some investors stay optimistic on the token’s longer-term outlook.
Supportive factors cited embrace ongoing token buybacks funded by protocol income and indicators of rising precise-world usage.
Files also shows that annualised SKY repurchases have risen sharply alongside a jump in income, inserting the project amongst the head-ranked protocols by buyback job.
Whereas Hyperliquid leads the neighborhood, Sky ranks 2d, sooner than names such as Pump.fun, TRON and Solana.
Here are the High 10 main in annualized income and their market cap / income ratio.
1. Hyperliquid $HYPE – $514M (12.1x)
2. Sky Ecosystem $SKY – $371M (3.6x)
3. https://t.co/FCQRXgJqew $PUMP – $368M (3.5x)
4. Tron $TRON – $339M (82.1x)
5. Solana $SOL – $282M (280.7x)
6.… pic.twitter.com/pLXz4LAloy— Coinage x DAIC (@coinage_x_daic) January 9, 2026
The certain fundamentals also can honest provide a steal that might possibly possibly well well study about bulls counter macro-pushed headwinds.
If bulls steal regulate, bullish imprint targets embrace $0.080 and $0.10. Conversely, bears might possibly possibly well well gape $0.050 and $0.037 lows.
