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Sky, once a leader in the stablecoin market, faces significant growth challenges amid increasing competition. Despite initial momentum, it struggles to maintain its standing following a new market wave in 2023. Key factors hamper its growth, notably the absence as a major trading counterparty. To overcome this, aligning strategies to offer sustainable yields and positioning as a vital trading stablecoin is imperative. Finding balance between short-term incentives and long-term competitiveness could revitalize its prospects. Insights from these issues are shared by @especulacion.
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