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Key Points: The founder of MakerDAO has put forth a significant proposal aimed at altering the Enhanced Dai Savings Rate. The proposal would see a reduction in the rate from the current 8% to a new rate of 5%, signaling a potentially impactful shift in the dynamics of the platform.
A closely followed analyst believes that the native token of the crypto project co-created by ChatGPT founder Sam Altman looks poised for a severe correction. Pseudonymous analyst Altcoin Sherpa tells his 196,400 X followers that he's bearish on Worldcoin (WLD), an artificial intelligence-based crypto project that uses iris-scanning technology.
An aggressive interpretation of the market structure would conclude that MKR's drop below the recent higher low at $1283 on 4 August flipped the market structure bearishly.
In a surprising twist that has sent shockwaves through the decentralized finance (DeFi) community, MakerDAO, a renowned DeFi platform, has made a contentious decision to restrict access to its lending platform, Spark Protocol, for users based in the United States. This move has ignited a fiery debate, pitting privacy and decentralization concerns against the platform's commitment to these very principles.
Two coins from the Ethereum (ETH) ecosystem are leading the charge of a new resurgence in decentralized finance (DeFi), according to blockchain analytics firm Glassnode.
Spark's stance on VPN usage courts criticism from the DeFi community.
MakerDAO's rising DSR attracts whale activity on the protocol. However, the network faces scrutiny as users are unable to use Spark Protocol with a VPN.
MakerDAO DAI‘s stablecoin supply increased by $200 million after its interest rate increased by 8% for holders depositing into the protocol. On Aug. 6, MakerDAO's founder Rune Christensen revealed that Dai Savings Rate (DSR) was paying the high yield rate for the stablecoin holders “at no additional risk.
Aave briefly overtook MakerDAO as the second-largest DeFi protocol in terms of TVL following the collapse of Silicon Valley Bank. However, the tides turned following Curve's hack, and it slipped back to third place.
MakerDAO, one of the early decentralized finance pioneers, has come under criticism for blocking VPN users from accessing its newly launched lending platform, Spark Protocol.
Holders of MakerDAO's decentralized stablecoin DAI can now get as much as 8% annual percentage yields. However, a decision has been made at the protocol level to block users of virtual private networks sparking uproar from privacy advocates.
MakerDAO Dai Savings Rate increased to 8%, TVL of DAI pool exceeds $400M as large transactions were observed, including a whale selling 5640 ETH for DAI.
MakerDAO increased its DAI savings rate from 3% to 8%, making it one of the highest rates offered by a major stablecoin issuer.
Users attempting to access Spark Protocol with a virtual private network will not be able to, sparking criticism from supporters of privacy.
While other DeFi protocols grapple with TVL losses in the aftermath of Curve's hack, MakerDAO sees some action.
Altcoin Sherpa, a famous crypto trader, has caught the attention of the crypto community with a promising prediction for an Ethereum-based altcoin. The predictions may seem true as many analysts is predicting a bull run in the coming weeks and August is the month of speculation. Here are his bullish altcoin targets for this week.
A trader has identified an altcoin based on Ethereum (ETH) that has the potential to surge by almost 30% from its present price. Pseudonymous trader Altcoin Sherpa tells his 196,400 Twitter followers that Maker (MKR) has demonstrated “immense strength” given the downbeat market environment.
Story Highlights Maker price could possibly surge as high as $1,531.61 by the end of 2023. MKR price with a potential surge could go as high as $4,391.63 by the end of 2030. The current Price of Maker Dao is .
Despite increased regulatory activity, DeFi index price, led by Compound [COMP] and MakerDAO [MKR], has rallied by 56% since 11 June, Glassnode found in a new report. Glassnode's DeFi price index tracks the performance of the top eight DeFi tokens by market capitalization.
MakerDAO (MKR) has navigated a tumultuous path in the Decentralized Finance (DeFi) market since June, marked by regulatory pressures and various challenges numerous projects face. Nonetheless, a shift in focus has occurred as altcoins, spearheaded by MKR, appear to overshadow this turbulence.
Venture capital companies have been offloading their balances of MakerDAO's MKR token. This scenario would put downward pressure on token prices, but it is actually a big plus for protocol decentralization and future price action.
Cryptocurrency giants, bitcoin and ether, meanwhile, lost ground during the month.
After the SEC lawsuit affected the DeFi ecosystem, some tokens recovered.
MakerDAO and Aave founders try and find a silver lining to the multimillion dollar Curve exploit over the weekend.
