On November 5th, the trading price of SKY was close to $0.0675, but the price outlook for SKY tokens still depends on whether they can break through the resistance range of $0.070 to $0.072. Trader Crypto With Gopal believes that if they can stay above this range, the price is expected to rise to $0.085. Meanwhile, Sky Frontier Foundation's third-quarter performance shows that although total revenue decreased, net income still increased.
SKY Token Price Outlook: Let's Start with the Resistance Levels
Gopal believes that SKY must first break through the range of $0.070 to $0.072 in order to activate its bullish scenario. In his analysis on November 5th, he pointed out that a descending wedge pattern had formed on the four-hour chart, and the price was still within this gradually narrowing pattern after a prolonged pullback.
The chart shows that the lower highs and lower lows are gradually converging below the October high. Gopal interprets this narrowing range as a sign that the selling pressure may be weakening, but the upper boundary has not yet been broken through.
Calculated at a reference price of $0.0675, to return to the resistance range, there would need to be an increase of about 3.7% to 6.7%. A target of $0.085 implies a potential upside of around 25.9%, while the support level near $0.063 is 6.7% lower than this reference price.
SKY The future price of the token depends on this technical breakthrough condition. Gopal The target is a prediction based on charts, not an valuation derived from the protocol's profitability.
Falling costs drive the net income of Sky Frontier to rise in the third quarter
Sky Frontier Foundation reports that net revenue in the third quarter was $37.19 million, a year-on-year increase of 11.8%, mainly due to reduced expenses. Total protocol revenue decreased by 7.4% to $99.29 million, while expenses fell by 16% to $62.10 million.
Cost reductions have increased the net revenue margin from 31% to 37.5%. The third quarter also marked the sixth consecutive quarter in which the agreement has achieved positive net revenue.
Savings expenditures have made a significant contribution to improvement. As the balance of sUSDS decreased from $552 million to $452 million, the related expenditures were reduced by $11.97 million to $41.94 million. Since the decrease in expenditures was greater than the reduction in income by $8.06 million, net income actually increased by $3.91 million.
The foundation allocated $28.47 million to Sky Reserves. At the end of the quarter, the balance reached $85.08 million, which is about 56.7% of the target of $150 million; there is still a need to make up an additional $64.92 million.
Repurchase, Staking Rewards, and Configuration of Galaxy
In the third quarter, a total of $8.72 million was allocated for the repurchase of SKY tokens and USDS staking rewards. Of this amount, $5.6 million was used for repurchases, while an additional $3.12 million was distributed to stakers in the form of USDS rewards.
The foundation stated that the second phase of its buyback framework will use net income to fund token purchases, staking rewards, and permanent destruction. The first round of destruction occurred on September 13th, when 2.86 million SKY tokens were removed.
The quarterly report also mentioned that Galaxy decided to allocate $100 million to sUSDS treasury holdings and was permitted to use these funds as collateral in its institutional lending business. The foundation's cooperation announcement described Galaxy as a company listed on NASDAQ with its headquarters in New York.
Osero Proposes the Base Liquidity Vault Solution
The governance proposal of Osero will utilize the cross-chain transmission protocol of Circle to connect its Ethereum network with the liquidity system of Base. A treasury managed by Gauntlet and selected from USDC will be launched on Base. The goal of this proposal is to implement the governance on November 19th, provided that Sky Core has completed the relevant actions and executed them on both chains.
According to this proposal, the maximum deposit limit in the vault is 15 million USDC, and this limit can be increased by an additional 10 million USDC per day. The fee rate configuration allows for unlimited withdrawals.
In addition, there is an independent limit of 10 million USDC that will be used for cross-chain transfers. This threshold can be replenished at a rate of 50 million USDC per day in either direction. These parameters are separate from the deposit limit of the treasury.
The proposal states that the governance execution itself will not transfer any tokens; after the configuration checks are completed, engineers plan to conduct a test transfer first, moving 1000 USDS tokens from the Base treasury back to Ethereum, and then returning them.
This article was generated with the assistance of artificial intelligence and has been reviewed by an editorial team.
