- MakerDAO recorded an all-time high in fees and revenue this month, as per DeFiLlama.
- The DeFi protocol hit day-highs of $1.67 million in fees and $1.18 million in revenue on December 9.
With Bitcoin trading below the $94K price range and overall market cap dropping by around 2%, the crypto market is having a dull end to 2024. However, the total market volume in the last 24 hours increased by 17.41%, as per CoinMarketCap. Meanwhile, DeFi space occupies 8.15% of the total market volume, amounting to $7.79 billion.
Being one of the top DeFi protocols, MakerDAO handles large amounts of DeFi trading volume through lending and borrowing from its users. The platform made an all-time high record in both fees and revenue generated this month with increased activity on the platform. However, MakerDAO stands at 7th position in terms of Total Value Locked (TVL), as per DappRadar.
MakerDAO Records All-Time Highs This Month
MakerDAO Fees and Revenue (Source: DeFiLlama)
As per DeFi analytics platform DeFiLlama, MakerDAO recorded all-time high values for fees and revenue in December, 2024. While the total fees recorded on the platform this month crossed $40 million, revenue generated on the platform surpassed over $25.9 million. With these new highs, MakerDAO set a bar for the upcoming year’s fees and revenue. Earlier this month, MakerDAO recorded a single-day high of $1.67 million in fees and $1.18 million in revenue on December 9.
On another note, MakerDAO’s native token MKR price is dropping for a while after recording a considerable price surge at the beginning of the month. The MKR is currently trading above the $1,500 price range, dropping from the monthly high of around $2,400. Being the governance token of the MakerDAO protocol, the price of MKR might also see new highs with increasing DeFi activity on MakerDAO as we enter 2025.
Highlighted Crypto News Today:
David Sacks Must Act Fast to Push Crypto Policy Before 2026 Elections