MakerDAO DAI‘s stablecoin supply increased by $200 million after its interest rate increased by 8% for holders depositing into the protocol.

On Aug. 6, MakerDAO’s founder Rune Christensen revealed that Dai Savings Rate (DSR) was paying the high yield rate for the stablecoin holders “at no additional risk.”

Following the news, DAI’s market cap climbed to $4.66 billion from $4.45 billion during the last 24 hours, according to CryptoSlate’s data. Additionally, the number of the decentralized stablecoins in the DSR contract soared to 611 million from 339.4 million recorded on Aug. 6, according to the Makerburn dashboard.

The exchange-traded digital asset market has seen considerable outflows this week, marking a total of $107 million, illustrating an accelerated pace of ongoing profit-taking over the past weeks.

CoinShares’ Digital Asset Fund Flows Weekly report stated that Bitcoin took center stage with outflows amounting to $111 million, recording the most significant weekly outflows since March this year.

A new report by the Network Contagion Research Institute (NCRI) suggests that social media activity, especially from inauthentic accounts, may have significantly amplified the value of certain cryptocurrencies listed on the now-defunct FTX exchange.

In the last three days, the DeFi sector has seen an 8% decline in the total value of locked assets (TVL), falling to $40.31 billion, as per DeFiLlama data.

As of July 30, DeFi projects TVL stood at $43.81 billion but witnessed a sharp decline after malicious players attacked several Curve (CRV) pools on July 31. Following the attack, crypto investors began withdrawing their assets, totaling over $3 billion, across different protocols as contagion fears emerged.