You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/makerdaos-dai-supply-hits-yearly-low-amid-mkrs-53-price-surge" rel="noopener noreferrer nofollow">MakerDAO’s DAI Supply Hits Yearly Low Amid MKR’s 53% Price Surge</a> 
MakerDAO’s decentralized stablecoin, DAI, has seen its total supply plummet to the lowest level this year, according to MakerBurn data. The supply had previously rebounded in the first two weeks of the year after hitting a four-month low on December 31, 2023.
The decline in DAI supply has been steady since January 11, potentially due to a drop in the price of some of its underlying assets. This could be linked to the collateralized debt position (CDP) model of the protocol, which adjusts borrowing rates automatically when asset prices fall, acting like a self-regulating market.
Despite a 40% decrease in active monthly users at MakerDAO from December’s 2800 to 2000 this year, transaction fees recorded from these users surpassed December’s total. Data shows a 9% increase in transaction fees within the last 20 days, reaching $16.5 million compared to December’s $15.1 million.
MakerDAO’s revenue from fees has been growing steadily, with a 35% increase over the past twelve months and over 400% in the last six months. Concurrently, MKR’s value has risen by 53% in the past month, even as many cryptocurrencies experienced declines or remained stable, as per CoinMarketCap data.
MKR transactions were predominantly profitable last month, with a profit/loss ratio of daily transaction volume at 2.21, indicating that for every loss-making MKR transaction, there were 2.21 profitable ones. Similarly, the market value to realized value (MVRV) ratio of 40.94% suggests that the market price of the token is 40.94% higher than the average purchase price by holders.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/makerdaos-dai-supply-hits-yearly-low-amid-mkrs-53-price-surge" rel="noopener noreferrer nofollow">MakerDAO’s DAI Supply Hits Yearly Low Amid MKR’s 53% Price Surge</a></h5>

MakerDAO’s DAI Supply Hits Yearly Low Amid MKR’s 53% Price Surge

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