EddieJayonCrypto
31 Dec 24
MakerDAO experienced a record-breaking December, with $40.86 million in fees and $26.77 million in revenue, marking its best month since inception. The platform's highest single-day performance occurred on December 9, generating $1.67 million in fees and $1.18 million in income. This success was dri...
MakerDAO achieved record-breaking fees and revenues in December 2024, marking its best year since inception. The platform's highest single-day performance occurred on December 9, generating $1.67 million in fees and $1.18 million in income, driven by interest payments on loans made on the DAI stablecoin. Maker also rebranded to Sky and introduced new cryptocurrencies, including USDS and a governance token named SKY. In contrast, MakerDAO's MKR experienced a decline in value in December, with its price fluctuating between $1,488 and $1,547 in the last 24 hours, remaining more than 75% below its all-time high. Despite MKR's decline, MakerDAO set new records in fees and revenues in December, reaching a peak of $40.86 million in fees and $26.77 million in revenue. The platform's best year since inception saw it making about $304 million in fees and over $174 million in revenue. Additionally, Maker's native asset MKR lost 16.8% of its value over the last month, with its price settling at $1,522. Despite this, it continues to show healthy market activity, with a significant market cap of $1.37 billion. This historic month for MakerDAO signals a breakthrough in its performance, showcasing the increasing demand for its lending services and its continued innovation in the cryptocurrency space. (Source: Adapted from original content)