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Maker (MKR) Token Jumps Over 10% as MakerDAO Turns Profitable Again

The Maker (MKR) governance token of DeFi lender MakerDAO saw a 10% increase in value on Thursday, despite the broader cryptocurrency market experiencing a 3.5% decline. MakerDAO's profitability has improved due to the platform's recent overhaul, which includes investing stablecoin reserves in real-world assets and lending to banks for higher yields. The platform's profits are being used to benefit MKR holders through a token buyback scheme. The Maker-adjacent lending platform Spark has also experienced growth, nearing an all-time high of $700 million in total value locked.

Maker Maker $1,428.48
-3.84%
MakerDAO
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