MakerDAO witnesses massive amounts of interest in DAI due to whale behavior. The revenue generated by the protocol sees growth due to the success of RWAs.
MakerDAO’s market cap in BTC’s termsAccording to Santiment’s data, traders have been closely monitoring the price range of $30k to $31k for Bitcoin, with many large investors observing this movement.
It remains to be seen whether these whales will continue to buy more BTC. However, in the process, DAI may benefit greatly from the whales’ bullish sentiment.At press time, DAI’s marketcap rested at $4.5 billion after declining materially over the last week. In terms of velocity, there was growth observed by the stablecoin, indicating an increased frequency of DAI transactions.The popularity of DAI may improve the state of MakerDAO as well.
The growth in Maker’s RWA balance during May can be attributed to the deployment of additional DAI from the Monetalis Clydesdale vault.
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