• MakerDAO showed signs of budding activity and resilience despite growing competition.
• However, MKR struggled to gain bullish traction as rival coins cruised to new tops.

MakerDAO [MKR] was one of the top DeFi projects during the 2021 bull run. Fast-forward to the present, and the DeFi segment is more saturated with newer projects and thus competition has intensified.

But how has MakerDAO been fairing with these changing conditions?

According to a recent dApps ranking, MakerDAO managed to squeeze into the top 10 dApps by weekly fees generated.

This was an important observation because it revealed that the…