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  • Sky token slides over 5% as altcoin weakness deepens

    Sky token slides over 5% as altcoin weakness deepens

    Bitcoin Cash Bull Vs Bear

    • Sky token price dropped over 5% as altcoins struggled.
    • The token could fall further amid broader market weakness.
    • Anchorage Digital has reportedly transferred over 69 million SKY tokens.

    Sky (SKY), the governance asset of the decentralized Sky Protocol (formerly MakerDAO), has dropped by over 5% in the past 24 hours as major cryptocurrencies face downward pressure.

    After renewed uptrends in early 2026, Bitcoin has retreated to support at $90,000, Ethereum to $3,000 and XRP to around $2.15.

    Increased trading volume as the token faces significant downward pressure suggests there could be further downside movement.

    SKY price falls amid large token transfer

    SKY’s price declining nearly 6% to trade near $0.056 is a drop that aligns with a broader altcoin market weakness observed on Friday.

    Sky Price Chart
    Sky price chart by TradingView

    The token’s struggles come as profit-taking adds to risk-off sentiment.

    For Sky, sellers have been on top since prices fell from highs of $0.096 in July 2025.

    Bears even tested the support levels around $0.041 in November.

    Recent gains saw buyers top $0.068, but things have looked tough on the upside across the cryptocurrency market, and SKY is following a similar trajectory.

    On Jan. 9, the price decline happened as onchain data showed that Anchorage Digital, a prominent institutional crypto custodian and federally chartered bank, had moved over 69 million SKY tokens.

    This significant on-chain transfer is likely a repositioning for custody services, institutional allocation, or other strategic purposes.

    However, such large transfers often trigger heightened selling activity.

    What next for SKY price?

    Technical indicators on the daily chart point to continued downside risk for SKY in the near term.

    The Relative Strength Index (RSI) is hovering in the mid-40s, suggesting weakening momentum and leaving room for a further slide toward oversold conditions.

    At the same time, the Moving Average Convergence Divergence (MACD) remains bearish, with the MACD line below the signal line and a negative histogram.

    Despite the recent decline of roughly 9% over the past week, some investors remain constructive on the token’s longer-term outlook.

    Supportive factors cited include ongoing token buybacks funded by protocol revenue and signs of growing real-world usage.

    Data also shows that annualised SKY repurchases have risen sharply alongside a jump in revenue, placing the project among the top-ranked protocols by buyback activity.

    While Hyperliquid leads the group, Sky ranks second, ahead of names such as Pump.fun, TRON and Solana.

    The positive fundamentals may provide a boost that could see bulls counter macro-driven headwinds.

    If bulls take control, bullish price targets include $0.080 and $0.10. Conversely, bears might eye $0.050 and $0.037 lows.

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  • Plume network crashes to new all-time low as crypto sell-off deepens

    Plume network crashes to new all-time low as crypto sell-off deepens

    Plume Price Flames

    • PLUME hit an all-time low of $0.035, which had the token down 85% from its March peak of $0.247.
    • Losses came amid sustained bearish pressure, with a 26% single-day crash erasing millions off its market cap.
    • Plume Network saw a total of over $440,000 in futures liquidations, most of it longs.

    As markets bled, Plume Network’s price dropped sharply to hit an all-time low of $0.035 and rank among the top losers in the past 24 hours across crypto.

    PLUME, the native token of the blockchain platform dedicated to bridging traditional finance with decentralized ecosystems, plummeted as Bitcoin flipped red.

    BTC fell to a new multi-month low, erasing significant gains as bulls failed to defend levels all the way to $95,800.

    Plume price drops to a new all-time low

    The PLUME token traded at $0.0349 at the time of writing, having reached unprecedented new all-time lows amid a fresh crypto crash.

    Initially, the altcoin surged on hype surrounding Plume’s full-stack RWA chain to hit $0.247 in March. But its price has declined steadily since, and accelerated to the latest low amid heightened selling pressure.

    Plume Price
    Plume Network chart by CoinGecko

    In the past few months, whale addresses have sporadically dominated accumulation rounds.

    However, retail panic has taken on the upper hand. Market data shows over $440,000 in 24-hour liquidations, seeing long positions dominating at over $392,000.

    Per CoinGecko, Plume has recorded over $60 million in daily trading volume. That’s an 83% spike in the past 24 hours, which highlights the corresponding selling.

    What’s next for PLUME price?

    For Plume, a sustained break below $0.035 could invite further capitulation. Potentially, bears might fancy $0.03.

    Notably, this dump arrives despite robust fundamentals. Plume’s SEC registration as a transfer agent in Q3 2025 has unlocked pathways for regulated tokenized securities and on-chain IPOs.

    Furthermore, recent integrations, such as the acquisition of liquid staking protocol Dinero, bolster institutional appeal.

    However, social sentiment has soured amid macroeconomic strains, including jitters around the Federal Reserve’s interest path.

    Analysts say the odds of a rate cut in December have fallen, and reaction has largely been negative.

    Despite the carnage, Plume’s long term outlook could mirror expected rebounds for the crypto sector. Nest Protocol’s recent relaunch, with 100 million PLUME allocation to stakers, has drawn significant interest.

    This means recovery could hinge on bulls reclaiming $0.05 support.

    A broader uptick in RWA adoption and overall bullish strength could allow for a potential rebound to $0.075 and likely $1.

    Nonetheless,  the 26% dump could accelerate downside action if uncertainty further grips the market. That $0.03 mark is critical for bulls over the coming weeks.

    Over the past week, the Plume price has plunged by nearly 30%. It’s down 64% in the past three months.

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