DeFi
MakerDAO Dominates DeFi Market with Strong Performance in 2021 » The Merkle News
MakerDAO has become the most notable player in the multi-cycle DeFi space, surpassing Ethereum’s growth since the start of 2021.
The DAO’s recent Endgame proposal has injected new momentum into its assets, reinforcing its already strong fundamentals.
In terms of revenue, MakerDAO has maintained a dominant position in the DeFi sector, capturing nearly 40% of all profits on Ethereum as of March this year. This achievement underscores its central role in the decentralized finance ecosystem.
East $MKR The first secular winner of DeFi?@MakerDAOThis year’s strong performance has resulted in an interesting result. It is now the only multi-cycle DeFi asset that has outperformed Ethereum since the start of 2021.
DeFi has long been looking for a secular winner who can increase its revenues… pic.twitter.com/3KLjjyTO5C
— MONK (@defi_monk) July 15, 2024
Last week, the announcement of BlackRock’s participation in MakerDAO’s initiative to allocate $1 billion from the DAO’s treasury to tokenized U.S. Treasury offerings was a major milestone. This strategic collaboration marks a significant milestone for MakerDAO, signaling increased institutional interest and potential future partnerships.
Investors are increasingly viewing MKR as a promising long-term investment within DeFi, which positions it favorably relative to Ethereum. MakerDAO’s strategy to increase its share of revenue within the Ethereum economy is seen as a major driver of this optimism among investors.
Institutional involvement noted in MakerDao MKR token
According to data from Spotonchain, recent activity highlights institutional involvement in MakerDAO’s MKR token. In the last five hours, Nascent and MakerDAO collectively deposited 3,566 MKR tokens (equivalent to $10.29 million) on Binance. Nascent made an estimated $2.9 million (+294%) profit by offloading 1,216 MKR, while MakerDAO (likely represented by multisign 0xbba) transferred 2,350 MKR ($6.8 million).
Since late April, MakerDAO has reportedly transferred a total of 16,000 MKR tokens ($45.2 million) to Binance, averaging around $2,823 per token. The recent deposit marks the largest outbound transfer in this series of transactions, indicating significant strategic moves within MakerDAO’s treasury management.
In the last 5 hours, two institutions, Nascent and MakerDAO, deposited 3,566 $MKR ($10.29 million) to #Binanceincluding:
1. Unloaded newborn 1,216 $MKR ($3.49 million), realizing an estimated profit of $2.9 million (+294%).
– Later, the VC withdrew 141B $PEPE ($1.6M), 281,000 $LDO ($508,000) and $3.41 million $USDT Since… pic.twitter.com/Rn9JjooeHP
— Spot On Chain (@spotonchain) July 16, 2024
These developments underscore MakerDAO’s strategic prowess and growing influence within the DeFi landscape, positioning it as a critical player in innovation and growth in decentralized finance. Investors and stakeholders are advised to keep a close eye on MakerDAO as it continues to navigate and shape the future of decentralized finance.
Disclosure: This is not trading or investment advice. Always do your research before purchasing cryptocurrency or investing in any service.
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