{"id":406712,"date":"2024-07-14T02:30:37","date_gmt":"2024-07-13T21:00:37","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=406712"},"modified":"2024-07-13T16:20:39","modified_gmt":"2024-07-13T10:50:39","slug":"how-did-makerdaos-1-billion-program-spur-mkrs-price-rally","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/how-did-makerdaos-1-billion-program-spur-mkrs-price-rally\/","title":{"rendered":"How did MakerDAO&#8217;s $1 billion program spur MKR&#8217;s price rally?"},"content":{"rendered":"<ul>\n<li><em>MakerDAO announced an open competition to invest $1 billion in tokenized U.S Treasury offerings<\/em><\/li>\n<li><em>MKR&#8217;s price registered a significant uptick thanks to this announcement<\/em><\/li>\n<\/ul>\n<p><a href=\"https:\/\/ambcrypto.com\/predictions\/maker-price-prediction\" target=\"_blank\" rel=\"noopener\">MKR<\/a> witnessed a significant uptick in price over the last 24 hours after a long period of negative price action. Its latest hike in value\u00a0can be attributed to the protocol&#8217;s recent announcements made at ETHCC.<\/p>\n<h2>Making the right moves<\/h2>\n<p>A key catalyst for the price hike is MakerDAO&#8217;s unveiling of a $1 billion investment program focused on tokenized U.S. Treasury offerings. This move has attracted significant interest from industry giants, including BlackRock&#8217;s BUIDL, Superstate, and Ondo Finance, who have all expressed their keenness to participate.<\/p>\n<figure id=\"attachment_406723\" aria-describedby=\"caption-attachment-406723\" style=\"width: 740px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.30.19-PM.png\"><img decoding=\"async\" class=\"wp-image-406723 size-large\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.30.19-PM-905x1024.png\" alt=\"\" width=\"740\" height=\"837\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.30.19-PM-905x1024.png 905w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.30.19-PM-265x300.png 265w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.30.19-PM-768x869.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.30.19-PM.png 1152w\" sizes=\"(max-width: 740px) 100vw, 740px\" \/><\/a><figcaption id=\"caption-attachment-406723\" class=\"wp-caption-text\">Source: X<\/figcaption><\/figure>\n<p>By prioritizing the integration of Real-World Assets (RWAs) like U.S government bonds and bills, MakerDAO is addressing a critical challenge in the cryptocurrency space and solidifying its position as a DeFi pioneer. This initiative aligns with Founder Rune Christensen&#8217;s overarching <a href=\"https:\/\/ambcrypto.com\/why-makerdaos-endgame-is-a-new-mkr-and-dai\/\" target=\"_blank\" rel=\"noopener\">Endgame Plan<\/a> and represents a substantial restructuring of the protocol&#8217;s reserve strategy.<\/p>\n<p>Ultimately, the goal is to fortify MakerDAO&#8217;s dominance within the DeFi ecosystem.<\/p>\n<p>Beyond the institutional interest sparked by MakerDAO, another key driver of the protocol&#8217;s growth is its exceptional revenue-generating capacity.<\/p>\n<p>Consider this &#8211; Ryan Watkins, Co-founder of Syncrancy Capital, highlighted MakerDAO&#8217;s financial dominance, noting that it surpasses most Layer-1 and Layer-2 networks in terms of fee generation. This, despite those networks commanding significantly higher valuations.<\/p>\n<figure id=\"attachment_406718\" aria-describedby=\"caption-attachment-406718\" style=\"width: 740px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.25.58-PM.png\"><img decoding=\"async\" class=\"wp-image-406718 size-large\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.25.58-PM-905x1024.png\" alt=\"\" width=\"740\" height=\"837\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.25.58-PM-905x1024.png 905w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.25.58-PM-265x300.png 265w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.25.58-PM-768x869.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.25.58-PM.png 1152w\" sizes=\"(max-width: 740px) 100vw, 740px\" \/><\/a><figcaption id=\"caption-attachment-406718\" class=\"wp-caption-text\">Source: X<\/figcaption><\/figure>\n<p>Here, it&#8217;s worth highlighting that AMBCrypto&#8217;s analysis of Token Terminal&#8217;s data revealed that the daily active addresses surged by 39.8% over the past month. Additionally, the revenue generated by MakerDAO also grew by 25% over the aforementioned period.<\/p>\n<figure id=\"attachment_406729\" aria-describedby=\"caption-attachment-406729\" style=\"width: 740px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.38.23-PM.png\"><img decoding=\"async\" class=\"wp-image-406729 size-large\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.38.23-PM-1024x690.png\" alt=\"\" width=\"740\" height=\"499\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.38.23-PM-1024x690.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.38.23-PM-300x202.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.38.23-PM-768x517.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.38.23-PM-1536x1035.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.38.23-PM-2048x1380.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Screenshot-2024-07-13-at-2.38.23-PM-1200x809.png 1200w\" sizes=\"(max-width: 740px) 100vw, 740px\" \/><\/a><figcaption id=\"caption-attachment-406729\" class=\"wp-caption-text\">Source: Token Terminal<\/figcaption><\/figure>\n<h2>MKR sees green<\/h2>\n<p>At press time, MKR was trading at $2,651.82, with its price up by 10.9% over the last 24 hours. Along with the surge in price, the altcoin&#8217;s MVRV ratio also registered a massive uptick, indicating high profitability amongst users.<\/p>\n<p>Usually, a high MVRV ratio means that some holders are bound to indulge in profit-taking, causing a correction in its price.<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Realistic or not, here\u2019s\u00a0<a href=\"https:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">MKR\u2019s market cap in BTC\u2019s terms<\/a><\/p>\n<hr \/>\n<p>However, due to the fact that the MKR token gives voting rights to its holder, it could be safe to assume that some buyers are not looking to profit but to have a say in which direction MakerDAO goes.<\/p>\n<p>This could mean that some holders may choose not to sell and the selling pressure may not be as profound, compared to other tokens with high MVRV ratios.<\/p>\n<figure id=\"attachment_406734\" aria-describedby=\"caption-attachment-406734\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Ethereum-ETH-14.50.04-13-Jul-2024.png\"><img decoding=\"async\" class=\"wp-image-406734 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Ethereum-ETH-14.50.04-13-Jul-2024.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Ethereum-ETH-14.50.04-13-Jul-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Ethereum-ETH-14.50.04-13-Jul-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Ethereum-ETH-14.50.04-13-Jul-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Ethereum-ETH-14.50.04-13-Jul-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Ethereum-ETH-14.50.04-13-Jul-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Ethereum-ETH-14.50.04-13-Jul-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/07\/Ethereum-ETH-14.50.04-13-Jul-2024-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-406734\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>MakerDAO&#8217;s latest initiative could have a big impact on MKR&#8217;s price.<\/p>\n","protected":false},"author":73,"featured_media":406740,"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":[],"class_list":["post-406712","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How did MakerDAO&#039;s $1 billion program spur MKR&#039;s price rally? 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