Maker price movement over the last week has been a continuous uptrend as the digital currency has moved from lows of $712.05 to the current levels of the monthly highs of $775.17.MKR is currently trading at $769.51 with a trading volume of $39,054,871.95.

Just a few days after market analysts predicted a 50% drop in NEXO price due to regulatory pressure and investor concerns, a crypto wallet address labeled as NEXO 0x8fd withdrew 7,758.8 Wrapped Bitcoin (WBTC) — roughly worth $153M — from MakerDAO.

For the first time since 2020, MakeDAO has crashed in its quarterly net income. The DAO is the autonomous community that governs the Maker Protocol. The project is based on the Ethereum blockchain and supports the lending and borrowing of crypto assets without a third party.

As part of BeInCrypto’s decentralized finance (DeFi) deep dive series, we’ll take a look at one of the first and oldest DeFi protocols, MakerDAO. DAO stands for Decentralized Autonomous Organization, and Maker was one of the first, founded by Rune Christensen in 2014. It is currently the longest-running project on the Ethereum (ETH) blockchain.