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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.

MakerDAO's native MKR token is at the center of attention after experiencing a dramatic surge of 55% throughout the month of July.

The MakerDAO community passed proposal GOV12.1.2 to introduce the Enhanced Dai Savings Rate (EDSR). While this happened, MKR's price shot up by 15%.

Bitcoin's price consolidation is giving altcoin traders confidence that DOGE, MKR, OP and XDC could break out.

Maker (MKR), one of the prominent players in the decentralized finance (DeFi) space, has experienced a remarkable 11% price surge in the past seven days. Despite a slight drop in the last hour, the token's performance remains impressive.

July was a bearish month for the cryptocurrency market. This was especially noticeable in the case of Bitcoin (BTC), which fell sharply after reaching a new yearly high on July 13.

The world of cryptocurrencies and decentralized finance (DeFi) is undergoing rapid evolution, with Maker's MKR token emerging as a prominent player in this dynamic landscape. Over the past 24 hours, MKR has experienced a remarkable surge, showcasing strong bullish momentum that has elevated its value to an impressive $1,208.22.

Maker's increasing exposure to the U.S. Treasury Bills is boosting revenues alongside an MKR buyback program initiated last week.

FalconX conducted a remarkable MKR withdrawal from Binance.

MakerDAO's proposal to increase the DAI savings rate has been approved and the interest rate will temporarily increase to 8%.

MakerDAO, the decentralized autonomous organization behind the stablecoin DAI, recently approved a proposal aimed at increasing interest rates temporarily for DAI token holders. The new mechanism, known as the Enhanced Dai Savings Rate (EDSR), seeks to offer higher yields to users, with rates reaching up to 8%.

The mastermind behind this stroke of genius, none other than the illustrious co-founder of MakerDAO, Rune Christensen, expressed the grand vision of the EDSR. This visionary mechanism ensures that Dai holders are rewarded fairly with increased returns, making it an irresistible force for adoption across the digital landscape.

The Enhanced Dai Savings Rate is based on DSR utilization, and could boost the stablecoin yield as much as 8%.

MakerDAO is considering a proposal to increase the DAI savings rate up to 8%. The DeFi lender's community has voted overwhelmingly in favor of the proposal.

The circulation of Maker's DAI stablecoin has shrunk by a third over the past year.