Crypto lending giant MakerDAO ramps up investments in US government bonds. This decision has resulted in a significant increase in the value of its governance coin, MKR, which has reached an 18-month high. 

According to DefiLlama, the protocol manages $4.6B in assets. MakerDAO started to convert funds of its stablecoin, DAI, into short-term US Treasuries and corporate bonds. 

The organization has received approval for up to $6B in such investments, doubling the prior limit. According to Simon Peters, an analyst at financial platform eToro, this increase in US government bond investment has resulted in increased treasury yields. 

As DAI supply grows, there is a chance that MakerDAO's T-bill investments will expand significantly in the immediate term.

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