Maker (MKR) remains one of the leaders of the ongoing DeFi revolution - some call it a frenzy - challenged only by Aave (LEND) and Curve Finance (CRV) in terms of the overall sum in USD locked in these projects. Right now, the Ethereum-based lending platform holds $1.26 billion, displaying the positive dynamics - 1.19% increase over the past 24 hours.
Top 5 DeFi cryptocurrencies
In the meantime, the total value locked in the DeFi sector had soared since our last MKR price prediction article from $3.64 billion to $8.2 billion, although it peaked at $9.6 billion before that huge dump on the cryptocurrency market in the first days of September that cooled down the hot-headed yield farmers who have been pouring money in DeFi since June.
Following a considerable pullback to $6 billion, the money resumed its flow into decentralized finance, which could have a positive reflection on Maker's price action. However, there are some worrying signs for the bullishly-minded MKR traders who expect the price to start having significant upswings again.
Maker finds itself below macro resistance