Skip to content

Bitcoin Trading News

Trading Digital Currency

Primary Menu
  • Home
  • Bitcoin
  • News
  • Apps
  • Mining
  • Exchanges
  • Brokers
  • Sitemap
  • Home
  • Cryptocurrency/Cryptocoin
  • Wrapped BTC And Ether Woes Have Caused Makerdao’s Revenue To Dip By 86%
  • Bitcoin
  • Crypto News
  • Cryptocurrency/Cryptocoin
  • Ethereum (ETH)

Wrapped BTC And Ether Woes Have Caused Makerdao’s Revenue To Dip By 86%

Jose Stork October 14, 2022 2 min read

MakerDAO, the Maker Protocol’s governing body has recently shared its revenue for the third quarter. As per the officials, the company’s revenue has faced a tremendous plunge in the particular quarter.

MakerDAO Shares Revenue for Q3 2022

MakerDAO officials have reported that they have recorded a great fall in demand in a few liquidations and loan demand. On the other hand, their expenses have not gone down but have moved upwards.

Johnny TVL, “The State of Maker Q3 2022”’s co-author and a Messari analyst, MakerDAO’s revenue has recorded a great plunge.

In terms of figures, the revenue generated by the decentralized autonomous organization for the third quarter was just $4 million. Compared to month-over-month performance, MakerDAO’s revenue plunged by 86%.

As per the analyst, this is for the first time since 2020 that MakerDAO has recorded a net income loss in a quarter. TVL also highlighted weak loan demand and fewer liquidations as reasons for low revenue.

Poor Performance of Biggest Earners

The major dip in MakerDAO’s revenue has come from the slump recorded for Wrapped Bitcoin (wBTC) and Ether (ETH). Both digital assets were considered the biggest earners and top revenue contributors.

Unfortunately, their demand has plummeted in the recent quarters and the third quarter was the worst of them all. A tremendous drop has been recorded in revenues generated from both digital assets.

According to data, Wrapped BTC has recorded a 66% fall in revenue in the third quarter. Whereas, Ether has recorded a 74% drop in revenue in the same quarter.

This is a great slump, which clearly indicates a massive demise of the cryptocurrency markets across the board.

Usage of wBTC and ETH

Both digital assets were the top picks among the investors aiming to use them as collaterals when acquiring Dai stablecoin as loans.

MakerDAO has also revealed that they have also recorded a great fall in the collateral ratio. Previously, the collateral ratio on the platform was 1.9 but now, it has dropped to 1.9.

Expenses Remain High

MakerDAO added that despite the low revenue generation, their expenses have continued to remain in the higher tier. In order words, the expenses have proven that they are not so elastic.

The company has reported that for the third quarter, they have only recorded a 16% fall in expenses compared to the previous quarter. In the third quarter, their total expenses amounted to $13.5 million.

MakerDAO Wants to Increase its Returns

MakerDAO is trying its best to deal with the situation at hand and wants to increase returns from the assets that the borrowers can deposit as collateral.

For this purpose, MakerDAO has initiated a process that would see them invest in bonds and treasuries. MakerDAO is aiming to invest up $500 million in bonds and treasuries.

Continue Reading

Previous: Brazilian Businesses Are Currently Holding The Largest Amount Of Cryptocurrencies In The World
Next: Coin Metrics CEO Says Big Banks Will ‘Want In’ on Digital Assets

Recent Posts

  • Fast Refund Group Review, Fastrefundgroup.com – Is FastRefundGroup Scam Or A Trusted Broker?

    Fast Refund Group Review, Fastrefundgroup.com – Is FastRefundGroup Scam Or A Trusted Broker?

  • Binetrix Review – A Variety of Educational Materials to Help You Trade

    Binetrix Review – A Variety of Educational Materials to Help You Trade

  • Protocol Labs Partnership with Accounting Firm Cryptio to Facilitate Filecoin Miners Go Public

    Protocol Labs Partnership with Accounting Firm Cryptio to Facilitate Filecoin Miners Go Public

  • UniTrust Venture Review – Is This A Versatile Online Trading Brand?

    UniTrust Venture Review – Is This A Versatile Online Trading Brand?

  • Axia review – Is this a legit CFD broker?

    Axia review – Is this a legit CFD broker?

  • TRADE.com Review – What Does This Broker Offer Traders In 2023

    TRADE.com Review – What Does This Broker Offer Traders In 2023

  • TradeSmart Academy Review – 3 Ways It Makes Learning Easy for Traders

    TradeSmart Academy Review – 3 Ways It Makes Learning Easy for Traders

  • Trades Universal Review – A Broker with a Great Vision

    Trades Universal Review – A Broker with a Great Vision

  • Why Choose Copy Trading Over Other Forms of Trading?

    Why Choose Copy Trading Over Other Forms of Trading?

  • Predictions For Big Eyes Coin Are Quite Hopeful

  • A Group Of Influential Us Senators Introduce Legislation Addressing The Crypto Industry

    A Group Of Influential Us Senators Introduce Legislation Addressing The Crypto Industry

  • Bill That Will Strengthen Crypto-money Laundry Regulations

    Bill That Will Strengthen Crypto-money Laundry Regulations

  • BTC Soars To A New Monthly High After The US CPI Report

    BTC Soars To A New Monthly High After The US CPI Report

  • FSB Intends to Establish Cryptocurrency Regulation Rules

    FSB Intends to Establish Cryptocurrency Regulation Rules

  • Ledger Stax With Tony Fadell Joining The Dev Team

    Ledger Stax With Tony Fadell Joining The Dev Team

  • The Crypto Market Is In Bad Shape, But Investors Are Still Bullish

    The Crypto Market Is In Bad Shape, But Investors Are Still Bullish

  • Michael Zetser’s Unique Approach to Fixing the Fintech Industry

    Michael Zetser’s Unique Approach to Fixing the Fintech Industry

  • Mobile Is Still The Biggest Technological Platform For Crypto

    Mobile Is Still The Biggest Technological Platform For Crypto

  • SushiSwap Wants to Restructure to Avoid Insolvency

    SushiSwap Wants to Restructure to Avoid Insolvency

  • Crypto Miners Have To Look For New Havens As Kazakhstan Tightens Regulations

    Crypto Miners Have To Look For New Havens As Kazakhstan Tightens Regulations

  • ‘Programming Languages’ A Key To Improving Security Of DeFi Protocols And Crypto Industry

    ‘Programming Languages’ A Key To Improving Security Of DeFi Protocols And Crypto Industry

  • Market Interest Keeps Growing in Oryen, Early Investors Enjoy 140% Gains Already

    Market Interest Keeps Growing in Oryen, Early Investors Enjoy 140% Gains Already

  • Cardano’s Opportunity to Shine Fades Due to Stablecoin Development Issues

    Cardano’s Opportunity to Shine Fades Due to Stablecoin Development Issues

  • Despite Launch of ApeCoin DAO Marketplace, ApeCoin Prices Have Fallen By 3.42%

    Despite Launch of ApeCoin DAO Marketplace, ApeCoin Prices Have Fallen By 3.42%

  • Huobi Adds An Extra Layer Of Security Around Its HBTC H-Token

    Huobi Adds An Extra Layer Of Security Around Its HBTC H-Token

  • XRP Observes a Strong Rally That Has Pushed It to 3-Week High

    XRP Observes a Strong Rally That Has Pushed It to 3-Week High

  • Cryptocurrencies to Face Tighter Regulations in Africa, Advise by IMF

    Cryptocurrencies to Face Tighter Regulations in Africa, Advise by IMF

  • ETH’s Trading Price Has Recorded A Plunge, Fears A Further Dip Below $1,000

    ETH’s Trading Price Has Recorded A Plunge, Fears A Further Dip Below $1,000

  • Cardano To Hype Its Adoption As It Wants To Launch A New Stablecoin

    Cardano To Hype Its Adoption As It Wants To Launch A New Stablecoin

  • SNM Trading Prices Surge By 4,000%, Users Expect A Pump And Dump Scheme

    SNM Trading Prices Surge By 4,000%, Users Expect A Pump And Dump Scheme

You may have missed

Fast Refund Group Review, Fastrefundgroup.com – Is FastRefundGroup Scam Or A Trusted Broker?
3 min read
  • Reviews

Fast Refund Group Review, Fastrefundgroup.com – Is FastRefundGroup Scam Or A Trusted Broker?

March 20, 2023
Binetrix Review – A Variety of Educational Materials to Help You Trade
3 min read
  • Cryptocurrency Brokers

Binetrix Review – A Variety of Educational Materials to Help You Trade

March 19, 2023
Protocol Labs Partnership with Accounting Firm Cryptio to Facilitate Filecoin Miners Go Public
2 min read
  • Bitcoin

Protocol Labs Partnership with Accounting Firm Cryptio to Facilitate Filecoin Miners Go Public

March 15, 2023
UniTrust Venture Review – Is This A Versatile Online Trading Brand?
3 min read
  • Cryptocurrency Brokers
  • Reviews

UniTrust Venture Review – Is This A Versatile Online Trading Brand?

February 7, 2023
Bitcoin Trading News | MoreNews by AF themes.