{"id":312475,"date":"2023-05-12T06:00:43","date_gmt":"2023-05-12T00:30:43","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=312475"},"modified":"2023-05-11T13:48:45","modified_gmt":"2023-05-11T08:18:45","slug":"makerdaos-mkr-progress-stuck-in-the-mud-months-after-lidos-ldo-rise","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/makerdaos-mkr-progress-stuck-in-the-mud-months-after-lidos-ldo-rise\/","title":{"rendered":"MakerDAO&#8217;s [MKR] progress stuck in the mud months after Lido&#8217;s [LDO] rise"},"content":{"rendered":"<ul>\n<li><em>As demand for DAI falls, Maker&#8217;s TVL has seen no significant growth since March.<\/em><\/li>\n<li><em>MKR has seen increased distribution than accumulation in the last month.<\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Following its replacement by Lido Finance [LDO] as the decentralized finance (DeFi) protocol with the largest total value locked (TVL) at the beginning of the year, MakerDAO\u2019s [MKR] TVL continues to plummet, data from <\/span><a href=\"https:\/\/defillama.com\/protocol\/makerdao\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">DefiLlama<\/span><\/a><span style=\"font-weight: 400;\"> showed.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Is your portfolio green? Check out the\u00a0<a href=\"http:\/\/ambcrypto.com\/calculator\/maker-profit-calculator\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Maker Profit Calculator<\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">According to information from the DeFi data analytics platform, Maker\u2019s TVL declined by 9% in the last month. Lido, on the other hand, registered a 4% TVL growth during the same period. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, Lido\u2019s TVL crossed the $10 billion mark in March and has since remained on an uptrend. At press time, Lido\u2019s TVL was $11.99 billion, while Maker\u2019s was $7.11 billion, growing by a mere 17% in the past five months.\u00a0<\/span><\/p>\n<h4><b>Shapella helped Lido, while DAI-depeg caused Maker to suffer<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">As the much-anticipated Ethereum\u2019s Shanghai Upgrade\u00a0went live on 12 April, Lido experienced a surge in liquid staking activity, causing its TVL to climb. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">While other staking platforms immediately enabled withdrawals upon Shapella\u2019s implementation, Lido did not, driving in more ETH deposits to the liquid staking platform.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Per data from <\/span><a href=\"https:\/\/dune.com\/queries\/2411666\/3958339\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Dune Analytics<\/span><\/a><span style=\"font-weight: 400;\">, since Shapella, Lido-staked ETH has grown by 9%. Likewise, its TVL has since increased by 5%.\u00a0<\/span><\/p>\n<figure id=\"attachment_312507\" aria-describedby=\"caption-attachment-312507\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Screenshot-2023-05-11-at-08.48.33.png\"><img decoding=\"async\" class=\"wp-image-312507 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Screenshot-2023-05-11-at-08.48.33.png\" alt=\"\" width=\"2560\" height=\"576\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Screenshot-2023-05-11-at-08.48.33.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Screenshot-2023-05-11-at-08.48.33-300x68.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Screenshot-2023-05-11-at-08.48.33-1024x230.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Screenshot-2023-05-11-at-08.48.33-768x173.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Screenshot-2023-05-11-at-08.48.33-1536x346.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Screenshot-2023-05-11-at-08.48.33-2048x461.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-312507\" class=\"wp-caption-text\">Source: Dune Analytics<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">On the other hand, Maker\u2019s TVL suffered a decline and consequently stagnated due to the momentary <\/span><a href=\"http:\/\/ambcrypto.com\/dai-stressed-makerdao-struggles-as-users-look-toward-other-stablecoins\/\"><span style=\"font-weight: 400;\">depeg<\/span><\/a><span style=\"font-weight: 400;\"> its DAI stablecoin suffered in March due to the unexpected collapse of Silicon Valley Bank, which cascaded into USDC temporarily losing its parity to the dollar.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Even though DAI regained its peg, its supply trended downward since then. Since then, DAI\u2019s supply fell by 25%, per data from <\/span><a href=\"https:\/\/makerburn.com\/#\/charts\/dai\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Maker Burn<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">When DAI supply drops, there are fewer DAI tokens in circulation, which could result from a decline in demand.<\/span><\/p>\n<figure id=\"attachment_312508\" aria-describedby=\"caption-attachment-312508\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Screenshot-2023-05-11-at-08.49.07.png\"><img decoding=\"async\" class=\"wp-image-312508 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Screenshot-2023-05-11-at-08.49.07.png\" alt=\"\" width=\"2560\" height=\"830\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Screenshot-2023-05-11-at-08.49.07.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Screenshot-2023-05-11-at-08.49.07-300x97.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Screenshot-2023-05-11-at-08.49.07-1024x332.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Screenshot-2023-05-11-at-08.49.07-768x249.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Screenshot-2023-05-11-at-08.49.07-1536x498.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Screenshot-2023-05-11-at-08.49.07-2048x664.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-312508\" class=\"wp-caption-text\">Source: Maker Burn<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">A decline in DAI demand means that there is less demand for borrowing the stablecoin, which in turn affects Maker\u2019s TVL. This means that there has been a decrease in the\u00a0<\/span><span style=\"font-weight: 400;\">amount of collateral locked in Maker&#8217;s smart contracts, causing its TVL to experience stunted growth.\u00a0<\/span><\/p>\n<h3><b>MKR\u2019s story of decline in the past month<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Trading at $653.16 at press time, MKR\u2019s price posted a double-digit decline in the last 30 days, according to data from <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/maker\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<figure id=\"attachment_312509\" aria-describedby=\"caption-attachment-312509\" style=\"width: 1858px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/MKR_1M_graph_coinmarketcap.jpeg\"><img decoding=\"async\" class=\"wp-image-312509 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/MKR_1M_graph_coinmarketcap.jpeg\" alt=\"\" width=\"1858\" height=\"792\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/MKR_1M_graph_coinmarketcap.jpeg 1858w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/MKR_1M_graph_coinmarketcap-300x128.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/MKR_1M_graph_coinmarketcap-1024x436.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/MKR_1M_graph_coinmarketcap-768x327.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/MKR_1M_graph_coinmarketcap-1536x655.jpeg 1536w\" sizes=\"(max-width: 1858px) 100vw, 1858px\" \/><\/a><figcaption id=\"caption-attachment-312509\" class=\"wp-caption-text\">Source: CoinMarketCap<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">On-chain data from <a href=\"https:\/\/app.santiment.net\/charts\/ds1-ZWU8__sCl\" target=\"_blank\" rel=\"noopener\">Santiment<\/a> revealed that the altcoin also suffered a blow to its network activity during that period. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The count of daily active addresses that traded MKR in the last month fell by 43%. Likewise, new demand for the alt dropped as the count of new addresses created daily to trade MKR fell by 32%.<\/span><\/p>\n<figure id=\"attachment_312510\" aria-describedby=\"caption-attachment-312510\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Maker-MKR-08.49.49-11-May-2023.png\"><img decoding=\"async\" class=\"wp-image-312510 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Maker-MKR-08.49.49-11-May-2023.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Maker-MKR-08.49.49-11-May-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Maker-MKR-08.49.49-11-May-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Maker-MKR-08.49.49-11-May-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Maker-MKR-08.49.49-11-May-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Maker-MKR-08.49.49-11-May-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Maker-MKR-08.49.49-11-May-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-312510\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\">How much are 1,10,100 MKRs worth today?<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">A look at the token\u2019s exchange activity revealed a surge in sell-offs in the last month. According to data from Santiment, MKR\u2019s supply on exchanges grew steadily in the last 30 days, while its supply outside exchanges fell. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This meant more investors sent their MKR holdings to exchanges to sell them, causing a decline in the alt\u2019s value.\u00a0<\/span><\/p>\n<figure id=\"attachment_312511\" aria-describedby=\"caption-attachment-312511\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Maker-MKR-08.49.47-11-May-2023.png\"><img decoding=\"async\" class=\"wp-image-312511 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Maker-MKR-08.49.47-11-May-2023.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Maker-MKR-08.49.47-11-May-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Maker-MKR-08.49.47-11-May-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Maker-MKR-08.49.47-11-May-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Maker-MKR-08.49.47-11-May-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Maker-MKR-08.49.47-11-May-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/Maker-MKR-08.49.47-11-May-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-312511\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>MakerDAO&#8217;s TVL struggles to rise as DAI demand drops following a brief loss of dollar parity in March.<\/p>\n","protected":false},"author":64,"featured_media":312513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[3537,3366,187],"class_list":["post-312475","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view","tag-ldo","tag-lido","tag-makerdao"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>MakerDAO&#039;s [MKR] progress stuck in the mud months after Lido&#039;s [LDO] rise - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Following its replacement by Lido as the DeFi protocol with the largest TVL at the beginning of the year, Maker\u2019s TVL continues to plummet.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/makerdaos-mkr-progress-stuck-in-the-mud-months-after-lidos-ldo-rise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MakerDAO&#039;s [MKR] progress stuck in the mud months after Lido&#039;s [LDO] rise - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"MakerDAO&#039;s TVL struggles to rise as DAI demand drops following a brief loss of dollar parity in March.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ambcrypto.com\/makerdaos-mkr-progress-stuck-in-the-mud-months-after-lidos-ldo-rise\/\" \/>\n<meta property=\"og:site_name\" content=\"AMBCrypto\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/cryptoamb\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-12T00:30:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/05\/AMBCrypto_A_digital_rendering_of_a_stationary_bicycle_with_a_br_ee5c90d0-fea6-4009-b388-710ca6ef33cd.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Abiodun Oladokun\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/0xAbiodun\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoAmb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Abiodun Oladokun\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/makerdaos-mkr-progress-stuck-in-the-mud-months-after-lidos-ldo-rise\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/makerdaos-mkr-progress-stuck-in-the-mud-months-after-lidos-ldo-rise\\\/\"},\"author\":{\"name\":\"Abiodun Oladokun\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#\\\/schema\\\/person\\\/448f3184b94221384fedfce7a5981ea2\"},\"headline\":\"MakerDAO&#8217;s [MKR] progress stuck in the mud months after Lido&#8217;s [LDO] rise\",\"datePublished\":\"2023-05-12T00:30:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/makerdaos-mkr-progress-stuck-in-the-mud-months-after-lidos-ldo-rise\\\/\"},\"wordCount\":566,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/makerdaos-mkr-progress-stuck-in-the-mud-months-after-lidos-ldo-rise\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ambcrypto.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/AMBCrypto_A_digital_rendering_of_a_stationary_bicycle_with_a_br_ee5c90d0-fea6-4009-b388-710ca6ef33cd.jpg\",\"keywords\":[\"LDO\",\"LIDO\",\"MakerDAO\"],\"articleSection\":[\"Altcoin\",\"News\",\"News 1\",\"Social\",\"Trading View\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/ambcrypto.com\\\/makerdaos-mkr-progress-stuck-in-the-mud-months-after-lidos-ldo-rise\\\/#respond\"]}],\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ambcrypto.com\\\/makerdaos-mkr-progress-stuck-in-the-mud-months-after-lidos-ldo-rise\\\/\",\"url\":\"https:\\\/\\\/ambcrypto.com\\\/makerdaos-mkr-progress-stuck-in-the-mud-months-after-lidos-ldo-rise\\\/\",\"name\":\"MakerDAO's [MKR] progress stuck in the mud months after Lido's [LDO] rise - 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