Maker

<img width="800" height="533" src="https://cdn.thebittimes.com/images/2023/09/30/015df5ae6bbe0455bdd4d5367d8933aa.webp" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="display: block; margin: auto; margin-bottom: 5px;max-width: 100%;" link_thumbnail="1" srcset="https://cdn.thebittimes.com/images/2023/09/30/015df5ae6bbe0455bdd4d5367d8933aa.webp 800w, https://cdn.thebittimes.com/images/2023/09/30/015df5ae6bbe0455bdd4d5367d8933aa.webp 450w, https://cdn.thebittimes.com/images/2023/09/30/015df5ae6bbe0455bdd4d5367d8933aa.webp 750w, https://cdn.thebittimes.com/images/2023/09/30/015df5ae6bbe0455bdd4d5367d8933aa.webp 768w" sizes="(max-width: 800px) 100vw, 800px"> 
The cryptocurrency market has been a battleground of bears and bulls, but amidst the volatility, MakerDAO’s native token, $MKR, stands out as a shining star. Year-to-date, $MKR has surged by an impressive 200%, reaching a 16-month high above $1,500 per token. This remarkable performance has left many wondering the driving factors behind this meteoric rise. 
At the beginning of the year, $MKR was trading around $500, a significant drop from its all-time high of over $6,000 during the previous bull run. However, it has now reached its highest level since May 2022, capturing the attention of both traders and investors alike. 
One pivotal reason behind Maker’s remarkable ascent is its growing annualized revenue. Thanks to the collateral backing its DAI stablecoin, this revenue is now closing in on the impressive milestone of $200 million. The collateral now includes real-world assets (RWAs), such as U.S. Treasury bills, offering investors a lucrative 5% annual percentage yield. 53% of all circulating DAI’s collateral is sourced from these RWAs. 
Researcher Thor Hartvigsen sheds further light on this phenomenon, highlighting that a staggering 63% of the protocol’s annualized <a rel="noopener noreferrer nofollow" title="Revenue" href="https://thebittimes.com/tag/revenue.html">Revenue</a> is derived from these <a rel="noopener noreferrer nofollow" title="real-world assets" href="https://thebittimes.com/tag/real-world-assets.html">real-world assets</a> in collateral. As the supply of DAI expands alongside rising U.S. interest rates, Maker’s protocol has been experiencing exponential growth. 
Hartvigsen points out that DAI’s supply has swiftly grown from $4.5 billion to over $5.5 billion due to the 5% yield available to users in the same vault on the Spark Protocol. This protocol, launched by Maker’s prominent community members, distributes this yield from Maker’s generated <a rel="noopener noreferrer nofollow" title="Revenue" href="https://thebittimes.com/tag/revenue.html">Revenue</a> on the collateral. 
Moreover, Maker’s price may continue to climb due to its attractive 6.7 price/revenue multiple. As DAI’s supply expands, this growth will likely positively impact the token’s price. Going long on $MKR is a direct bet on the future growth of the $DAI supply 
Intriguingly, another potential catalyst on the horizon includes a proposed 1:12,000 token split aimed at reducing the token’s price to make it more accessible. Additionally, there are talks of a potential rebrand for the Maker tokens, adding further excitement to the mix. 
In conclusion, MakerDAO’s $MKR has defied the bearish trends in the cryptocurrency market, surging to a 16-month high driven by its robust annualized revenue and growing DAI supply. With potential game-changing developments on the horizon, it’s clear that MakerDAO’s token is one to watch closely in the ever-evolving world of cryptocurrencies. 
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The post <a rel="noopener noreferrer nofollow" title="MakerDAO" href="https://thebittimes.com/tag/makerdao.html">MakerDAO</a>’s $<a rel="noopener noreferrer nofollow" title="MKR" href="https://thebittimes.com/tag/mkr.html">MKR</a> Hits 16-Month High at $1,500 Amidst Growing <a rel="noopener noreferrer nofollow" title="Revenue" href="https://thebittimes.com/tag/revenue.html">Revenue</a> appeared first on BitcoinWorld. 
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/makerdao-s-mkr-hits-16-month-high-at-1-500-amidst-growing-revenue-tbt64595.html">https://thebittimes.com/makerdao-s-mkr-hits-16-month-high-at-1-500-amidst-growing-revenue-tbt64595.html</a>

MakerDAO’s $MKR Hits 16-Month High at $1,500 Amidst Growing Revenue

TheBitTimes

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