MakerDAO dominated the DeFi area when it comes to market cap. At press time, it was ranked primary when put next to different protocols. Regardless of that, it wasn’t capable of generate a profitable quarter when it comes to earnings.
Right here’s AMBCrypto’s Value Prediction for MakerDAO for 2022-2023
In accordance with Messari, a crypto analytics agency, MakerDAO witnessed its first destructive quarter since 2020.
One of many causes for the decline in income might be attributed to the depreciation in its Whole Worth Locked (TVL) when it comes to Ethereum borrowing.
As will be noticed from the chart under, the TVL depreciated by over 6% within the final quarter. One of many causes for the decline in MakerDAO’s income might be DAI provide, which remained flat during the last quarter.
Supply: Messari
The decline in income issue is also attributed to MakerDAO’s overexposure to Bitcoin and Ethereum.
Most of MakerDAO’s income is generated by Ethereum or Bitcoin-based belongings. Now, since each these belongings carried out poorly previously quarter, it did have an effect on MakerDAO as effectively.
Supply: Messari
It’s right here to be famous that MakerDAO’s stablecoin DAI, confirmed great progress
No time to DAI
DAI’s quantity was up by 149% during the last quarter. Actually, DAI took a large share of USDT when it comes to on-chain quantity. This signifies DAI’s continued progress.
Supply: MessariEven so, tright here was a decline in MakerDAO’s community progress, which signifies that the variety of new addresses that transferred a given MakerDAO token for the primary time decreased.
Together with that, there was a slight decline in velocity for MakerDAO over the previous week which was adopted by an uptick noticed in the previous few days. An uptick in velocity signifies that the frequency at which the tokens change addresses has elevated.
Supply: Santiment
