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Sky (MakerDAO) Hits New Highs in Fees and Revenue
In a remarkable turn of events, MakerDAO has surpassed previous records to set new highs in fees and revenue. According to data from DeFiLlama, the platform reached an unprecedented $40.86 million in fees and $26.77 million in revenue between December 1st and 31st.
The staggering figures indicate a significant surge in user activity, with MakerDAO’s lending services driving the majority of these earnings. The company’s DAI stablecoin has been at the forefront of this success, as it continues to see increasing demand for its interest payments on loans.
It is worth noting that these extraordinary results come amid the backdrop of an otherwise challenging period for the crypto market. The dismal performance of Maker’s native asset MKR, which dropped 16.8% over the last 30 days and saw a $21% loss in the previous two weeks, could not stem the tide of the platform’s growth.
In spite of this negative market trend, the token’s value still fluctuated within a narrow range between $1,488 and $1,547 before settling at $1,522. Its current price is 1.1% below its yesterday’s level while remaining more than 75% behind its all-time high achieved in May 2021. The token continues to show healthy market activity, as reflected by its daily trading volume of $113.1 million.
MakerDAO’s transformation into Sky is expected to have a significant impact on the DeFi landscape and this latest milestone serves as a testament to its innovative approach to lending services and user engagement.
Source: cryptopotato.com
