• MakerDAO’s sDAI captured attention amid the growing attention towards interest-bearing stablecoins.
• DAI’s market cap grew as MKR’s price started to rise.

Despite the volatile nature of the DeFi market, MakerDAO [MKR] consistently showed its resilience and growth potential. In particular, MakerDAO appears well-positioned to benefit from the rising fascination towards interest-bearing stablecoins.

Realistic or not, here’s MKR’s market cap in BTC terms

Can MakerDAO reap the benefits of sDAI?

What sets sDAI, a stablecoin issued by MakerDAO, apart is its unique source of yield. Unlike traditional stablecoins, which often rely on staking rewards or collateralized assets, sDAI’s yield comes from the Stability fee generated within Maker Vaults and investments in real-world assets, such as US Treasuries.

Interest-bearing Stablecoin is on the rise

Currently, it only accounts for 1.5% of the total stablecoin market cap on Ethereum.

The most popular Interest-Bearing Stablecoin includes sDAI from @MakerDAO and eUSD/peUSD from @LybraFinance :
– sDAI: $1.05B
– eUSD: $24.62M
– peUSD:… pic.twitter.com/CL69GIQei2

— Tom Wan (@tomwanhh) September 24, 2023

Interest-bearing stablecoins like sDAI provide users with the opportunity to maintain liquidity while seeking higher yields, akin to a traditional savings account. However, depositing funds into these accounts may come at t

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Author: Himalay Patel

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