MakerDAO [MKR]: This report card should be considered before exiting

With the claims of building the world's first unbiased currency and leading decentralized stablecoin, DAI, MakerDAO is a decentralized organization built on the Ethereum blockchain providing liquidity to its users. Recent data from DefiLlama showed that, with a total of $9.91b, MakerDAO is now the first in the ranking of decentralized applications in terms of

Timeline of Maker

Maker's MKR has risen by over 61 percent, according to Santiment feed, as the overall crypto market dips further. Sentiment on Twitter reported that the significant hike could be attributed to a recent spike in whale transactions propelling the asset…

By now, any investor who follows crypto knows the market crashed and burned this week. Both Bitcoin and altcoins suffered immensely following headwinds (Rising inflation, interest rate hikes, and geopolitical instability).

On ‘Friday the 13th', the crypto market was slowly recovering from its scare the previous day, when Bitcoin slipped below $27,000. At press time, though, most of the top 100 coins and tokens were still in the red.

Due to a sudden price drop of its competitor Terra(LUNA), the MKR/USDT pair has witnessed a significant inflow as investors are safer with DAI stablecoin. As a result, the altcoin nearly jumped 80% on its intraday level and reached a high of around $2300.

MakerDAO over the last month has noticed a significant reduction in the total value locked on the protocol, reducing from $17 billion to $12 billion as of today. Now while the broader crypto market has been taking a hit, Maker, in particular, has seen the worst of it.

The increased popularity of the Terra ecosystem saw Anchor surpass Maker in total value locked (TVL) last month.  The post Anchor (ANC) Surpasses Maker (MKR) in Total Value Locked appeared first on BeInCrypto.