As of June 2025, the Sky token, which was previously known as Maker, has experienced a notable increase of approximately 15% over the last month. This surge is primarily attributed to the introduction of Sky Protocol’s highly anticipated staking rewards initiative. However, as of June 20, the token’s price has seen a slight retreat following its recent gains. This raises questions about the future price trajectory of Sky in both the short and long term. Let’s explore the current situation.
Understanding Sky
Sky represents the new identity of MakerDAO, one of the pioneering and most impactful decentralized finance (DeFi) platforms in the cryptocurrency landscape. The significant rebranding took place in August 2024 as part of MakerDAO’s ambitious “Endgame” strategy aimed at enhancing the project’s capabilities. Along with the rebranding, the DAI stablecoin was renamed to USDS, and the former MKR governance token was replaced by the new Sky (SKY) token. This transformation goes beyond mere naming; the objective is to create a more user-friendly and community-focused ecosystem. The introduction of smaller, specialized sub-DAOs called Sky Stars, each with specific functions and incentives, aims to simplify governance, improve scalability, and enhance user experience. Essentially, Sky is building upon the foundational principles of MakerDAO, but with a contemporary twist to its DeFi approach.
Sky’s Price Outlook: Current Status
As of June 20, Sky is valued at approximately $0.08, reflecting a decline of 1.16% over the past 24 hours and a 6.2% drop over the last week. On June 16, the token experienced a brief spike to $0.0949, with its highest recorded price of $0.1014 occurring in December 2024 during a broader cryptocurrency market upswing. The recent price rise can largely be attributed to the launch of the staking rewards program, which allows users to earn attractive returns by locking their SKY tokens. Additionally, the token has shifted towards a deflationary model, ceasing new emissions while implementing a buyback-and-burn strategy, both of which have bolstered investor confidence. The ongoing transition from MKR to SKY has also contributed to a diminished circulating supply, which helps exert upward pressure on the price. Despite these encouraging factors, the recent minor price pullback is indicative of typical market fluctuations, particularly after a significant short-term rally.
Future Projections for Sky
Looking ahead to 2025, CoinCodex predicts that Sky may experience a short-term decrease of approximately 25%, potentially dropping to around $0.0615 by July 18, 2025. Nevertheless, their long-term forecast anticipates that the token could fluctuate between $0.0564 and $0.2251 over the next year, suggesting that in an optimistic scenario, it could more than double its previous all-time high. As of June 19, sentiment remains largely positive, with 16 out of 19 technical indicators signaling bullish trends, indicating strong momentum for the token. Similarly, DigitalCoinPrice presents an optimistic outlook, estimating that Sky could surpass its former all-time high and stabilize between $0.17 and $0.18 later in 2025.
Long-Term Expectations: Sky in 2030
For those considering the price of Sky in 2030, CoinCodex’s projections indicate a potential price range between $0.11 and $0.348, contingent on market dynamics and the broader performance of the cryptocurrency sector. DigitalCoinPrice anticipates that by the end of the decade, Sky could trade between $0.38 and $0.44, signifying a steady growth trajectory over the long term.
Investment Considerations for Sky
Sky is backed by solid fundamentals, including its recent rebranding, the introduction of staking rewards, a deflationary economic model, and the initiative to create sub-DAOs. Although the token has recently experienced a minor decline, this follows a robust price rally, and the overall outlook for SKY remains relatively optimistic. However, potential investors should assess whether such an investment aligns with their risk tolerance and long-term financial objectives.
