Stablecoin DAI surges in activity driven by complex MEV transactions

DAI stablecoin activity on Ethereum has increased dramatically in recent days, hitting an all-time high of $86 billion in trading volume on April 17. Previously, daily activity was less than $1 billion. The main driver behind this surge is complex MEV transactions, which include the use of Maker's lightning minting module. The module allows users to mint DAI and pay tips in the same transaction. This mechanism attracts arbitrageurs and MEV robots, for example, nearly $1 billion in DAI trading volume in one transaction. EigenPhi data shows that MEV robots made about $20,000 in profits per day from April 17 to 18, although the pace of activity has slowed down. The surge in DAI activity highlights the continued evolution and use of stablecoins in the crypto space. #dai #MEV