DeFi growth propels Maker’s MKR token to a two-year high

DeFi growth propels Maker’s MKR token to a two-year high
фото показано с : coinjournal.net

2021-1-8 15:21

Maker’s governance and utility token MKR rallied to levels not witnessed since early 2018

MKR is the digital token for the global financial system MakerDAO and Maker’s lending platform. MKR prices have steadily risen over the last two days hitting a high of $1165.11 yesterday (according to CoinGecko). This price figure is about $103 shy of its all-time high of $1,798.70 set in January 2018. Its market cap has risen to nearly $600 million.

MKR/USD price chart. Source: CoinGecko

The token’s price briefly dipped to $1010 today but has since managed to recover. It is currently trading at 1,122.57 and is up by 40.3% in the last 24 hours. The Ethereum-based governance token has now gained 20.8% over the last seven days. Liberman of Delphi Digital floated an explanation for the rally saying it was due to the growing supply of MakerDAO’s stablecoin Dai.

Several crypto analysts also believe the price surge was an expected but dallied outcome of the boom witnessed in decentralised finance (DeFi). The DeFi sector has shown resurgence signs over the last few days as it looks to become even more popular.

The sector has maintained an upward momentum since the start of the year with the total value locked in DeFi heading towards $22.5 billion. The majority of DeFi projects in the top 20 list have posted daily gains today except for InstaDApp and Flexa. According to DeFi pulse, the total value locked as of writing is $22.01 billion.

Messari’s leading analyst Ryan Watkins pointed out a variance in the correlation between MKR price action and DeFi growth. During last year’s summer DeFi boom, the price of the token had remained constant. That is not the case this year as the demand for the token has increased. Watkins attributed this change to an improvement in the token’s fundamentals.

Watkins also argued that the upswing in MKR token price could have been spurred by the recent bullish run in the crypto market.

“Recent excitement across the industry provided the recipe for [the token’s price] to finally be recognised”, he explained.

The post DeFi growth propels Maker’s MKR token to a two-year high appeared first on Coin Journal.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Maker (MKR) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $3772.91
Капитализация $0 Rank 99999
Цена в час новости $ 1076.44 (-100%)

maker token mkr two-year defi high growth

Источник: coinjournal.net

maker token → Результатов: 80


Фото:

Maker Closes in on $2 Billion Collateral, MKR Pumps 17%

Decentralized finance stalwart MakerDAO has been slowly strengthening in terms of collateral locked. This is starting to reflect in MKR token prices which are up 17% on the week. While the recent fervor and focus has been on all the new DeFi offerings that have been appearing on an almost daily basis, Maker has been […] The post Maker Closes in on $2 Billion Collateral, MKR Pumps 17% appeared first on BeInCrypto.

2020-10-1 11:19


Фото:

eToroX Announces The Addition Of 120 ERC-20 Tokens To Its Multi-Crypto On-Chain Wallet

New tokens include two eToro stablecoins eToroX, the blockchain subsidiary of global investment platform eToro, today announces it will add 120 ERC-20 tokens to its multi-crypto on-chain wallet.  The first 5 of the 120 tokens added to the wallet today are 3 crypto assets: Maker (MKR), Basic Attention Token (BAT), OmiseGO (OMG) and two eToro […] The post eToroX Announces The Addition Of 120 ERC-20 Tokens To Its Multi-Crypto On-Chain Wallet appeared first on ZyCrypto.

2019-7-2 15:24


Фото:

eToro adds 5 Ethereum tokens to its cryptocurrency wallet – plans to add 115 more

 eToroX, the specialized blockchain division of social trading platform eToro, has announced the launch of the first five of 120 ERC-20 tokens that will be added to its on-chain wallet.   ERC-20 tokens are designed and used solely on the Ethereum platform and can be shared, exchanged for other tokens, or transferred to a cryptocurrency wallet.

2019-7-2 14:27


Фото:

Altcoin Trading Volume Surprise And Maker Token Analysis: Video

Today Kiana Danial is taking a look at one of the fundamentals of a healthy market. Altcoins have taken an absolute battering, as we all know – but what if the current prices reflect an oversold market? It’s true that fundamentals don’t always correlate directly to short-term prices, but the long-term hodler will be relieved […] The post Altcoin Trading Volume Surprise And Maker Token Analysis: Video appeared first on Crypto Briefing.

2018-11-21 18:14


Биржа Ethfinex Trustless сообщила о листинге нескольких цифровых активов

Новая децентрализованная площадка криптовалютной биржи Bitfinex под названием Ethfinex Trustless в эту среду объявила о листинге шести новых цифровых активов: Augur (REP), Maker (MKR), Basic Attention Token (BAT), SpankChain (SPANK), Autonio (NIO), а также стейблкоина Dai.

2018-11-1 14:45


дальше еще 31 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Maker price surges 7% amid $1.35 million audit contest

Maker price rose more than 7% to lead altcoin gainers alongside Kaspa and Injective. Gains for MKR came as new upside momentum emerged amid a massive $1. 35 million Endgame audit contest. MakerDAO said in a recent post that blockchain security platform Sherlock will the host the bug hunt contest from July 8 to August 5, […] The post Maker price surges 7% amid $1.