MakerDAO impress rebounds as DAI holds its peg and investors peek for stablecoin security

MakerDAO label rebounds as DAI holds its peg and merchants come throughout for stablecoin safety

Its been a tough couple of weeks for the cryptocurrency market. Bitcoin (BTC) label is nowhere discontinuance to the rate estimates of most analysts, so much of stablecoins lost their peg and the demise of indubitably one of many stay decentralized finance (DeFi) platforms sparked an match that resulted in $900 billion vanishing from the entire crypto market capitalization.

During the in model fallout, MakerDAO (MKR) managed to turn crisis into opportunity and the crumple of TerraUSD (UST) has introduced renewed consideration to DAI, the longest-running decentralized stablecoin.

<em>MKR/USDT 1-day chart. Source: TradingView</em>
<em>High-5 protocols by total label locked. Source: Defi Llama</em>

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