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<\/p>\n
- \n
- MakerDAO fell to fourth place in terms of TVL ranking for DeFi protocols.<\/em><\/li>\n
- MKR\u2019s price surged by almost 25% in the last month.<\/em><\/li>\n<\/ul>\n
Decentralized lending protocol MakerDAO [MKR]<\/a> has slipped further in the ranking of DeFi platforms in terms of total value locked (TVL), losing 11% in the past month.<\/span><\/p>\n
\nHow much are\u00a01,10, 100 MKRs worth today<\/a>?<\/p>\n
\nAccording to data from DeFiLlama<\/a>, MakerDAO\u2019s TVL currently stands at $4.48 billion, putting it in fourth place behind Lido Finance [LDO]<\/a>, Aave [AAVE]<\/a>, and JustLend.<\/span><\/p>\n
![\"\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-07-at-08.54.26.png\")
<\/a><\/p>\nSource: DefiLlama<\/p>\n<\/div>\n
Aave has benefited from MakerDAO\u2019s undoing<\/b><\/h4>\n
In the aftermath of Curve Finance\u2019s exploit<\/a>, Aave\u2019s TVL plummeted severely, causing it to briefly lose its spot as the protocol with the second-highest DeFi TVL to MakerDAO.<\/span><\/p>\n
As liquidity providers and borrowers sought new \u201chomes\u201d for their funds,\u00a0 MakerDAO amplified its Dai Savings Rate (DSR) to 8%, causing the total amount of the DAI stablecoin deposited in the DSR contract to jump from 339.4 million to 556 million, according to <\/span>Makerburn.com<\/span><\/a> data.<\/span><\/p>\n
Its wrapped staked Ether tokens (wsETH) deposits climbed, leading to its TVL surge, and it became the second-largest DeFi platform in terms of TVL after Lido.\u00a0<\/span><\/p>\n
However, soon after, the protocol passed a proposal to <\/span>reduce<\/span><\/a> the DSR to 5%, causing a number of whales to remove previously provided liquidity from the DSR pool.\u00a0<\/span><\/p>\n
For example, after the DSR was slashed, Tron founder Justin Sun withdrew 206 million in DAI and 235,556 wsETH from the pool, data tracked by Arkham Intelligence<\/a> showed.\u00a0<\/span><\/p>\n
The DSR reduction has since resulted in a steady decline in the protocol\u2019s TVL, putting it four places behind the Lido.\u00a0<\/span><\/p>\n
MKR, on the other hand, excels<\/b><\/h4>\n
Despite the steady decline in MakerDAO\u2019s TVL in the last month, the value of its native token MKR has climbed. At press time, the altcoin exchanged hands at $1,410, having grown by 24% in the last month, according to data from <\/span>CoinMarketCap<\/span><\/a>.<\/span><\/p>\n
\n - MKR\u2019s price surged by almost 25% in the last month.<\/em><\/li>\n<\/ul>\n
![\"\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/MKRUSDT_2023-10-07_08-47-58.png\")