Biggest Movers: TRX Hits 4-Week High, MKR Remains Close to 2-Month Peak

Tron rose to a one-month high in today's session, hitting a key resistance point in the process. The surge in price comes despite cryptocurrency markets trading mostly lower on Monday. Another exception to this decline was maker, which remained close to an eight-week high.

Timeline of Maker, Tron

A new report released by popular journalist Colin Wu has claimed that Tron founder Justin Sun and FTX's Sam Bankman-Fried are the possible investors behind the recent takeover of Chinese crypto-exchange Huobi Global.

MakerDAO, the “longest-standing” DeFi lending protocol and creator of DAI, the “original,” decentralized stablecoin, announced “the strategic investment of $500M USD (converted from $500M DAI) into a combination of US Short Treasuries and Investment Grade Corporate Bonds.

The continued decline in the price of Tron [TRX] has led to an increase in the negative bias against the crypto asset, new data from Santiment revealed.  Data from CoinMarketCap showed that on a year-to-date basis, the price of TRX has gone down by 17.28%.

MakerDAO, the governing body of the Maker protocol, recently revealed that a community-wide vote that had been going on for months had concluded. The goal of the vote was to determine how best to allocate the Maker treasury funds for the best investment.

MakerDAO has invested $500 million of its reserves in traditional assets to diversify its balance sheet and strengthen the DAI stablecoin backing.  Investing In Traditional Assets Decentralized autonomous organization, MakerDAO has initiated $500 million from its reserves to be invested in traditional assets like the U.S. Treasuries and bonds.

MakerDAO, the team behind the DAI stablecoin, has taken its first step in allocating $500 million worth of funds to the U.S. Treasury and corporate bonds, thereby diversifying its balance sheet. The allocated funds were stored in the custody of two investment companies.

MakerDAO has initiated an investment, where $500 million of the funds that are collateralizing the Dai (DAI/USD) stablecoin will be relocated to US Treasuries and corporate bonds, with the main goal of providing the protocol with an additional yield at low risk.

TRONDAO recently released its weekly report that showcased the growth of the network in the DeFi space. It also elaborated on the improvements the network noticed in terms of the number of accounts and transactions.

DeFi pioneer MakerDAO will be converting as much as $500 million worth of its DAI stablecoin to use for investing in treasuries and bonds. The post MakerDAO DeFi Platform Dips Into TradFi With $500M Investment in Bonds and Treasuries appeared first on BeInCrypto.

$500 million of the funds currently collateralizing the Dai (DAI) stablecoin will be reallocated to U.S. Treasuries and corporate bonds in an effort to provide the protocol low risk additional yield.