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.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

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


Libra, digital yuan, centralized stablecoins are just banking services: MakerDAO's Christensen

MakerDAO's latest upgrade is deemed paramount to the ecosystem's relevance as it seeks to enhance the Dai token's real-world use cases. Maker's Rune Christensen recently featured in a Blockcrunch inteThe post Libra, digital yuan, centralized stablecoins are just banking services: MakerDAO's Christensen appeared first on AMBCrypto.

2019-11-19 09:30


MakerDAO’s Multi-Collateral DAI System Launches Nov. 18; MKR Holders Cast Votes On The 15th

The CEO of the Maker Foundation, Rune Christensen, has recently affirmed that the new multi-collateral DAI (MCD) system of the MakerDAO network would be launched on November 18. According to him, all the MKR token holders should vote on the project until November 15 to approve it. His announcement was made during the Devcon 5 […]

2019-10-10 21:37


Chainalysis будет отслеживать подозрительные транзакции по десяти токенам стандарта ERC-20

Аналитическая компания Chainalysis реализовала поддержку десяти дополнительных ERC20-токенов в своём решении для противодействия отмыванию денег с использованием криптовалют, пишет The Block. В число добавленных токенов вошли Maker, Dai, 0x, OmiseGo, Basic Attention Token и другие.

2019-10-4 21:00


Chainalysis начал отслеживать подозрительные транзакции по 10 Ethereum-токенам

Аналитический блокчейн-стартап Chainalysis добавил поддержку 10 токенов стандарта ERC-20 в свое решение для противодействия отмыванию денег с помощью криптовалют, сообщает The Block. Поддержка добавлена для Maker, Dai, 0x, OmiseGo, Basic Attention Token и других активов.

2019-10-4 19:11


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


дальше еще 31 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



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.

Maker (MKR), THORChain (RUNE) skyrocket; Bitcoin takes $27k again

Maker (MKR) and THORChain (RUNE) prices rose sharply as Bitcoin retested $27k. MKR could spike towards $2k while RUNE eyes buy-side liquidity above $2. 01 The cryptocurrency market flipped higher on Thursday, with gains for Bitcoin (BTC) and most altcoins sending the total market cap up by 3.

Crypto price outlook: Bitcoin, Maker, Shiba Memu

Bitcoin (BTC) and Ether (ETH) broke higher today, trading above $26,650 and $1,620. Maker (MKR) hit a yearly high near $1,470 amid fresh buy pressure. Meanwhile, Shiba Memu has raised over $3. 3 million in its presale as SHMU price jumps to $0.