Decentralized Finance (DeFi) Platform Achieves Unprecedented Revenue and Fee Milestones
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Sky (MakerDAO) Hits New Highs in Fees and Revenue
December has been a breakthrough month for MakerDAO, as data from DeFiLlama reveals the platform has set new records in fees and revenues. The decentralized finance analytics platform reports that between December 1st and 31st, MakerDAO reached an unprecedented $40.86 million in fees and $26.77 million in revenue.
This remarkable surge can be attributed to the increasing demand for its lending services, as users flock to borrow and lend assets on the protocol’s DAI stablecoin. The platform’s ability to generate interest payments has led to a significant increase in earnings, with MakerDAO’s governance token MKR experiencing a less-than-impressive December.
According to data from CoinGecko, MKR lost 16.8% of its value over the last 30 days, with prices plummeting by more than 21% within the previous fortnight. However, its price still fluctuated between $1,488 and $1,547, finally settling at $1,522.
Despite this minor decline, MakerDAO’s market activity remains strong, with a daily trading volume of $113.1 million helping to maintain its value with a market capitalization of $1.37 billion.
Source: cryptopotato.com
