ParaFi Capital: SKY Holdings Reach 126 Million Tokens

ParaFi Capital lifted its SKY position by another 56 million tokens worth $2.98 million, bringing the total to 126 million SKY acquired at an average $0.066 and now marked at a $1.72 million unrealized loss.

The move follows the March swap of 42,500 AAVE into 70 million SKY when AAVE traded at $124. Fresh coins were pulled from Coinbase Prime one hour ago.

Price action on the 4h chart shows SKY locked at $0.05 inside the Bollinger Bands while the EMA50 sits at the same level and the EMA200 at $0.06, confirming a bearish structure reinforced by the MACD death cross. With RSI at 47.07, the token lacks momentum to challenge the upper band resistance at $0.05, pointing instead to repeated tests of the $0.05 EMA50 confluence before any sustained recovery.