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MakerDAO price rebounds as DAI holds its peg and investors search for stablecoin security -Breaking

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MakerDAO’s price rises as DAI keeps its peg in place and investors seek stablecoin security

This has been an extremely difficult couple of weeks in the crypto market. (BTCThe price of a ) is not near what analysts expect, several stablecoins have lost their peg and there are no other cryptocurrencies that can match the estimated price. One of the most important decentralized financial institutions has fallenPlatforms for (DeFi), caused an event that saw $900 Billion disappear from total crypto market capitalization.

MakerDAO, a non-profit organization that helps people in need of assistance during times of crisis (MKR) managed to turn crisis into opportunity and the collapse of TerraUSD (UST) has brought renewed attention to DAI, the longest-running decentralized stablecoin.

MKR/USDT 1-day chart. Source: TradingView
List of top-5 protocol by total value. Source: Defi Llama