MakerDAO price rebounds as DAI holds its peg and investors search for stablecoin security
Cointelegraph
Published May 16, 2022 04:15PM ET
Updated May 16, 2022 06:00PM ET
Its been a rough couple of weeks for the cryptocurrency market. Bitcoin (BTC) price is nowhere near the price estimates of most analysts, multiple stablecoins lost their peg and the demise of one of the top decentralized finance (DeFi) platforms sparked an event that resulted in $900 billion vanishing from the total crypto market capitalization.
In the midst of the widespread fallout, MakerDAO (MKR) managed to turn crisis into opportunity and the collapse of TerraUSD (UST) has brought renewed attention to DAI, the longest-running decentralized stablecoin.
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Written By: Cointelegraph
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