Currently, decentralized finance (DeFi) protocols Maker, Aave, Compound, and Polygon are on the rise to their new highs. As a result, the said DeFi-based tokens currently appear to be the top picks within the DeFi market.
Of note, MKR, AAVE, COMP, and MATIC mainly operate using the Ethereum (ETH) blockchain. Due to this, the DeFi community speculates that the aforementioned DeFi tokens got support from the rise in the ETH price nowadays.
Also, the DeFi community thinks that the sudden drop of the Ethereum gas fee has influenced users’ interest rates in DeFi. Specifically, Maker has faced a sharp increase in the price of its native token MKR over time.
Based on the report, the MKR price surge is attributed to factors including an upgrade to the clearance e…
This article was first published on coinquora.com