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MakerDAO dominated the DeFi house by way of 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 by way of revenue.
Right here’s AMBCrypto’s Value Prediction for MakerDAO for 2022-2023
In keeping with Messari, a crypto analytics agency, MakerDAO witnessed its first damaging quarter since 2020.
One of many causes for the decline in income could possibly be attributed to the depreciation in its Complete Worth Locked (TVL) by way of Ethereum borrowing.
As could 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 could possibly be DAI provide, which remained flat over the past 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 large development
No time to DAI
DAI’s quantity was up by 149% over the past quarter. The truth is, DAI took a large share of USDT by way of on-chain quantity. This signifies DAI’s continued development.
Supply: MessariEven so, tright here was a decline in MakerDAO’s community development, 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 couple of days. An uptick in velocity signifies that the frequency at which the tokens change addresses has elevated.
Supply: Santiment
