Key Takeaways:
- SKY token jumped 11% following Coinbase roadmap news, with trading volume spiking over 54%.
- USDS stablecoin saw a 65.7% surge in volume, highlighting growing interest in DeFi utility tokens.
- Coinbase’s roadmap signals future listings—historically followed by sharp price movements and increased market activity.
Coinbase has added SKY and USDS to its official token listing roadmap, causing an immediate spike in market activity. The news, announced via X (formerly Twitter), sent SKY token soaring by double digits and triggered a surge in trading volume across both assets.
While transfers and trading are not yet supported, Coinbase’s inclusion alone was enough to energize the market.
The launch of trading for these assets is contingent on market-making support, and sufficient technical infrastructure. We will announce the launch of trading separately once these conditions have been met.
— Coinbase Assets 🛡️ (@CoinbaseAssets) July 2, 2025
SKY Token Price Jumps 11% After Announcement
Following the announcement, Sky Protocol’s SKY token surged to $0.091, marking an 11% increase. Although the price slightly retraced to $0.081, it remained up 6.7% in the last 24 hours, supported by a 54.1% increase in trading volume, totaling nearly $9 million.
SKY represents the next-generation governance token for Sky Protocol, formerly known as MakerDAO. As an evolved version of the MKR token, SKY aims to usher in new governance mechanics within decentralized finance (DeFi).
USDS Volume Rises 65% Amid Growing Interest
USDS, a new iteration of the DAI stablecoin, also saw a strong uptick in trading activity. Its volume surged to $4.9 million, up 65.7% from the day prior. USDS enhances DAI’s utility by integrating native token rewards, offering additional incentives to DeFi participants.
The token is poised to be a significant player in the stablecoin ecosystem, particularly as Coinbase broadens its focus on stable assets with real-world yield and utility.
No Trading Yet, But Market Making and Infrastructure Underway
Coinbase clarified that while the tokens are now on the roadmap, actual trading requires sufficient market-making support and technical infrastructure. The exchange stated,
“We will announce the launch of trading separately once these conditions have been met.”
Also Read: Coinbase Unveils CFTC-Compliant Bitcoin and Ethereum Futures, Launching July 21
Historically, roadmap inclusion is often a precursor to a full listing. Previous tokens like Wormhole (W) and Ethena (ENA) experienced similar surges before being listed shortly after. W, for example, gained 12% upon inclusion and maintained strong volume momentum, currently trading at $0.073 with $81 million in daily volume.
Wormhole (W) is now live on https://t.co/CD3RBjtMAO & in the Coinbase iOS & Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets. https://t.co/676miKRrfh
— Coinbase Assets 🛡️ (@CoinbaseAssets) July 2, 2025
The rapid response to Coinbase’s roadmap addition for SKY and USDS highlights the significance of the exchange’s influence on altcoin markets. While official trading has not yet begun, the surge in prices and volumes suggests investors are positioning early in anticipation.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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