SKY rallies 14% as $569M TVL growth meets spot selling
Sky (SKY)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Sky Protocol [SKY] recorded significant gains over the last 24 hours, with the altcoin gaining by 14% on the charts. While these gains appeared to be strongly bullish, they have relied significantly on sentiment. CoinMarketCap Sentiment, which uses a scale bet, is cited as the driver behind the move. The outlet questions if $569M in TVL growth will overshadow spot selling.
How the market reacted
Whalio's own Binance spot order flow for SKY, measured when this story was written up on 19 September 2026. Not the outlet's figures.
Whalio data shows SKY trading at $0.06949 with a 24-hour buy ratio of 53.2%, indicating a slight majority of buyers over sellers. In the last hour, the buy ratio rose to 57.2% with a positive volume delta of +$25,160, suggesting immediate buying pressure is building compared to the 4-hour ratio of 50.2%. Over 24 hours, the volume delta stands at +$518,856, confirming that net buying has outweighed selling. The cumulative volume delta (CVD) closed at +$286,761, showing that buyers have been in control for 10 of the last 24 hours. This flow indicates a market where buyers are actively absorbing sell pressure, though the 4-hour delta of +$3,484 shows a recent deceleration in buying intensity.
The latest daily buy ratio of 49.8% sits at the 54th percentile of the last 322 days, against a median of 49.4% - ordinary for this coin.
Was that an ordinary day?
The same Binance spot measurements for SKY, averaged over the days leading up to the story.
Over the preceding week, SKY saw a 7-day average buy ratio of 47.5%, making the current 24-hour ratio of 53.2% an unusual day with a +5.7 point increase. Spot volume was 3.49x the average, highlighting a significant surge in trading activity compared to normal days. Despite the price rising 12.9% over eight days, the 8-day volume delta was -$794,588, indicating that larger sellers have been present over the longer term. This week saw net buying on only 4 of 7 days, contrasting with the recent 10-day net buying streak. The current day represents a shift toward buyer dominance after a week of mixed flows.