Maker (MKR) Almost Doubled in 30 Days: Reasons

Veteran DeFi altcoin MKR, a core native cryptocurrency of the MakerDAO ecosystem, is among the best performers in the last month. Regulatory pressure and market uncertainty failed to stop its marvelous 95% rally in the last four weeks.

Timeline of Maker

Over the course of seven days, Maker (MKR) has experienced remarkable growth, showcasing its potential as a lucrative investment opportunity. According to data from CoinMarketCap, MKR has recorded a significant gain of 30% in this timeframe, sparking much interest and optimism among its numerous traders and holders.

MakerDAO, a prominent decentralized finance (DeFi) platform, has made significant developments to reduce its reliance on USD Coin (USDC) as collateral for its stablecoin, DAI. The protocol has diversified its collateral by incorporating Real World Assets (RWA), such as short-term bonds, which now constitute a substantial portion of DAI collateral.

MakerDAO has purchased additional U.S. Treasury bonds worth $700 million. The decentralized finance (DeFi) protocol houses the DAI stablecoin. Meanwhile, the latest purchase saw DAO's total treasury bond balance hitting $1.2 billion. The move comes after the MakerDAO neighborhood voted to expand its United States Treasury bond value to $1.

MakerDAO has purchased a second batch of U.S. Treasury Bonds worth a whopping $700 million. The purchase of part of the DeFi lending protocol's attempts to diversify the assets backing its DAI stablecoin.

MakerDAO, the organization behind the DAI stablecoin, has purchased $700 million worth of U.S. Treasury bonds, bringing the DAO's total Treasury bond holdings to $1.2 billion. The MakerDAO community had already held the preliminary vote to increase its U.S. Treasury bond holdings from $500 million to $1.25 billion in March.

MakerDAO, the DeFi protocol whose team is responsible for the creation of the DAI stablecoin, recently announced the completion of its acquisition of an extra $700 million worth of US Treasurys.

Amidst the bloodbath present ravaging the majority of cryptocurrencies, Maker (MKR) has managed to maintain its value and shown positive momentum. This current performance is noteworthy and has triggered the interest of investors and market observers.

Key Points: On Wednesday, an arbitrage bot borrowed $200 million worth of the dai stablecoin (DAI) from MakerDAO using the DssFlash contract. This contract permits users to borrow any amount of DAI without incurring fees, according to crypto data provider Arkham Intelligence.

Key Points: According to data from MakerBurn, the decentralized autonomous organization (DAO) MakerDAO has achieved a significant milestone, with its current annualized income reaching a record high of $95 million. This marks a substantial increase of 147% since the beginning of the year, making it the highest level recorded since mid-February 2022.

The MakerDAO community is preparing to vote on a proposal to raise the Dai Savings Rate (DSR) from 1% to 3.33%. DSR is the interest rate earned by individuals who lock their DAI into MakerDAO's DSR smart contracts.