|All Time High:
|The price of #MKR today is $2,091 USD.
The lowest MKR price for this period was $0, the highest was $2,091, and the exact current price of one MKR crypto coin is $2,090.73315.
The all-time high MKR coin price was $6,299.
Use our custom price calculator to see the hypothetical price of MKR with market cap of SOL or other crypto coins.
|The code for Maker is #MKR.
Maker is 7.1 years old.
|The current market capitalization for Maker is $2,043,965,538.
Maker is ranked #45 out of all coins, by market cap (and other factors).
|The trading volume is large during the past 24 hours for #MKR.
Today's 24-hour trading volume across all exchanges for Maker is $60,372,390.
|The circulating supply of MKR is 977,631 coins, which is 98% of the maximum coin supply.
A highlight of Maker is it's unusually low supply of coins, as this supports higher prices due to supply and demand in the market.
|MKR is well integrated with many pairings with other cryptocurrencies and is listed on at least 53 crypto exchanges.
View #MKR trading pairs and crypto exchanges that currently support #MKR purchase.
More Maker (#MKR) News
|Maker (MKR) Makes Crypto History: $2K Breached – Can DeFi Reach Fo...
Maker DAO's MKR has been a dominant force in real-world asset (RWA) transactions within decentralized finance (DeFi), boasting a daily average of $94.5 million in RWA-related transactions in the second week of January. Despite this impressive transaction volume, there are underlying challenges that investors need to consider.
Maker Transaction Volume Dominance
MKR stands out with its substantial RWA transaction volume, signaling ongoing activity and interest in the MakerDAO ecosystem amid market volatility. This is a positive indicator for the protocol.
MakerDAO's strategic move towards tokenized T-Bills has proven successful, contributing over half of the protocol's fee revenue. This diversification provides a potential growth engine, offering a positive aspect amid other challenges.
$MKR leads transaction volume amongst RWA protocol tokens, reaching a daily average volume of $94.5M during the second week of January. https://t.co/fc5hlSkGUI pic.twitter.com/DxqTjCuaon
— IntoTheBlock (@intotheblock) January 18, 2024
The Concern: Decline In RWA Activity
However, the overall picture for RWA on MakerDAO is not entirely positive. The total value locked (TVL) in RWA has dropped by 33% since October, raising concerns about waning investor interest in real-world asset integration on the platform.
Investor sentiment mirrors the decline in TVL, with a substantial $871 million withdrawn from Maker's RWA offerings in the past three months. This suggests potential concerns about...
|Whales Accumulating Maker And Aave, Path To 2024 Highs?
On-chain data suggests that whales are accumulating large amounts of Maker (MKR) and Aave (AAVE), two leading decentralized finance (DeFi) tokens. This accumulation trend coincides with a broader cooling-off period in the crypto scene days after the United States Securities and Exchange Commission (SEC) approved 11 spot Bitcoin ETFs.
Whales Accumulate MKR And AAVE
According to ScopeScan data, Anchorage Digital, a digital asset custody firm, purchased a significant amount of MKR on January 15. The firm acquired 12,103 MKR tokens, valued at approximately $24.7 million, from Coinbase, a leading crypto exchange in the United States.
Two whales, '0xbb5f' and '0x4a7,' also accumulated large quantities of MKR and AAVE. Specifically, '0xbb5f' bought 50,000 AAVE and 2,452 MKR worth around $5.03 million and $4.95 million from Binance, a leading cryptocurrency exchange. Meanwhile, 0x4a7 purchased 39,000 AAVE and 2,350 MKR, valued at approximately $3.95 million and $4.75 million, also from Binance.
These whale purchases signal a strong belief in the long-term potential of MKR and AAVE. Maker and Aave are two of the world's leading decentralized lending and borrowing protocols across DeFi. MKR serves as the governance token for MakerDAO, which also manages the DAI decentralized stablecoin. On the other hand, AAVE is the governance token of Aave, a top decentralized lending platform.
According to the latest DeFiLlama data, Maker and Aave have total value locke...
|10 Wallets Accumulate 3.55% of Maker's Circulating Supply as MKR Soars 5...
Maker (MKR) witnessed a noteworthy surge in activity in the first week of the year. The crypto asset climbed to $2,140, a level not seen since April 2022.
As a result of the price action, MKR's monthly gains surged to exceed 50%. This impressive rise seems to be associated with the accumulation of MKR by substantial wallet addresses.
MKR's January Rally: Reduced Exchange Supply Fuels Demand
Maker started the year on a bullish note. In fact, recent data from Lookonchain revealed that large wallet addresses have been actively accumulating MKR tokens throughout January 2024.
Ten wallets were identified to have collectively acquired a staggering 32,759 MKR tokens, valued at approximately $66.66 million. This acquisition represented a substantial 3.55% of the MKR circulating supply, and interestingly, it has been achieved by pulling these tokens directly from exchange platforms.
The latest transaction of MKR withdrawal activity was recorded on January 15th, involving a user withdrawing 12,103 MKR worth a whopping $24.63 million from an exchange.
The large-scale accumulation signals a shift in investor sentiment, with this cohort of investors expressing confidence in MKR's price trajectory. Moreover, the reduced supply of the token on crypto exchanges typically leads to increased demand.
Additionally, the total number of MKR holders reached an all-time high of 98,875 on January 9th. Despite a minor slump, the total holders are still above 98,800, according to data compiled by Crypt...
|Maker Takes The Spotlight With 34% Gain – Can MKR Hold This Positi...
Maker is making waves as it enters Coingecko’s top gainers list this week with massive bullish pressure on the market. MKR is up nearly 34% in the bi-weekly timeframe, but long-term investors are enjoying bigger rewards as the token is up 205% year-to-date, and currently trading a little above $1,800.
The market started the year on a bullish note, with some altcoins leading the charge. The latest market data shows that the broader market is up nearly 6% in the past 24 hours.
Spark, a DeFi infrastructure protocol on the MakerDAO, is breaking boundaries this year. According to their latest tweet, 2024 continues the bullishness it experienced last year.
In total, over $2.87 billion is supplied by the community as lenders. Total borrowing within the protocol now surpassed $1 billion, with available liquidity sitting safely at $1.81 billion.
Happy New Year!
New year, same graphs going
2024 looking promising pic.twitter.com/htlyiu7058
— Spark (@sparkdotfi) January 2, 2024
It is by far the biggest news for Spark this year. Last year, the protocol made progress in several other fields, like the deployment of the brand-new stablecoin, sDAI.
Market Enters Bullish Phase
As 2023 ended, the broader market has entered into a bullish frenzy. CCData’s 2023 Digital Asset Market Review reveals that the market entered 2024 with a big jump in important metrics, like assets under management (AUM) which increased by nearly 15%. The growth observed was last...
|Maker Market Heats Up: Over 600 Addresses Complete MKR Trades In Single ...
The starting point of 2024 has a positive outlook for the Maker (MKR) coin, suggesting that the year may be productive. Activity has increased, according to on-chain data, indicating a potential positive trend.
Since the start of the year, the number of active addresses on a daily basis—a crucial indicator of user engagement—has increased significantly.
Presently, there are more than 600 addresses trading MKR, which is a 4% rise from the original 590. This increase in involvement suggests that there is increasing momentum and interest in the token.
Moreover, since the beginning of the year, there has been an over 5% increase in the establishment of new addresses only for MKR trading. This inflow of new players gives the ecosystem more room to flourish and more liquidity.
2024 is off to a good start for MakerDAO, the driving force behind the DAI stablecoin in the decentralized finance (DeFi) space.
Analysts are upbeat, projecting steady returns and even calling it a safe pick given the volatile state of the cryptocurrency market. Still, let's examine this more closely before jumping on the MKR bandwagon.
One of MakerDAO's strongest points is its mature ecosystem. A key component of DeFi lending and borrowing is the MKR token, which controls the DAI stablecoin.
This mutually advantageous association has bestowed MakerDAO with considerable sway and a foothold in the market. However, to attribute its future exclusively to the Bitcoin ETF decision, as some co...
|This Week's Crypto Snapshot: TIA and YFI Soar; GAS, TRB, MKR Struggle
Thursday, November 16, 2023, marks a steady phase in the crypto economy, maintaining a value of $1.4 trillion with a modest increase of 0.44% in the last 24 hours. Concurrently, despite the seven-day downturn experienced by both bitcoin and ethereum this week, a notable 39 cryptocurrencies have achieved double-digit growth. Notably, celestia (TIA) and yearn finance (YFI) have seen significant surges, recording triple-digit increases in their value.The Week's Biggest Crypto Gainers and Losers
Despite a minor slump last week, with BTC and ETH declining by 1.9% and 2.1% respectively over a seven-day period, a significant number of cryptocurrencies fared much better. This week, celestia (TIA) emerged as the top performer, rising 122% against the U.S. dollar.
Close behind was yearn finance (YFI), registering a 119% uptick against the greenback. Following these, thorchain (RUNE) also experienced a notable increase, climbing 71% in the past week.
This week also saw impressive climbs from several other crypto assets. Avalanche (AVAX) leaped by 66%, while 0x (ZRX) ascended 62%. FTX token (FTT) also showed a notable increase, rising by 57%, and kaspa (KAS) escalated by 50%.
In total, 15 crypto assets experienced growth of 30% or more over the past week. Additionally, 23 tokens surged over 20%, and 39 cryptocurrencies reported double-digit gains.
However, the week wasn't favorable for all, as some faced significant declines. Gas (GAS) witnessed a steep 55% fall, tellor (TRB) decrease...
|After A 170% Spike, Is The Maker (MKR) Dream Rally Over?
After rallying over 170% from June 2023 lows, there are signs that Maker (MKR) bulls are losing momentum, looking at price action and decisions by various whales acting via an intermediary. At spot rates, MKR is changing hands at near 2023 highs but is down 16% from October highs.
Maker (MKR) Is Selling Off: The Bull Run Is Over? MKR is dumping at an unexpectedly faster pace, reversing gains posted in early Q4 2023, a concern. According to The Data Nerd, Falcon X sent 5,690 MKR worth $8.52 million to multiple exchanges, mainly OKX and Binance, at an average price of $1,497.
Typically, whenever crypto whales begin sending tokens to centralized ramps, as currently is the case, it can be interpreted as bearish. That whales are moving their coins to exchanges could indicate that they are planning to liquidate and exit their position. Subsequently, this can dent sentiment, forcing the token to dump.
However, the timeliness of the transfer also matters. In some instances, tokens can be moved to exchanges and interpreted as bullish. This is because, depending on the situation, whales could move them to provide liquidity for other traders.
This can be the case with Falcon X. The platform provides institutional investors access to liquidity and execution services. Notably, Falcon X has, in the past, been used by other crypto exchanges and liquidity providers to offer other services. Since it acts on behalf of institutions and whales, it cannot be ascerta...
|Worldcoin Adjusts Token Strategy; Shifts Orb Rewards and Alters Market M...
Worldcoin, which uses iris biometrics to create a unique human identity database, said Sunday it is changing the distribution of its circulating WLD token supply and its market maker loan agreements. The project, launched in July, will decrease the loan amounts to market makers and will start rewarding operators with WLD instead of USDC.Worldcoin Updates Token Supply and Loan Agreements
WLD's circulating supply is now close to 134 million tokens, an increase from the 100 million at its debut. In an update published on Sunday, the company said this jump is attributed to more than 800,000 new and current users who claimed about 34 million tokens through free grants. To boost liquidity, Worldcoin provided 100 million WLD in loans to five market makers, with those loans set to end on October 24, 2023.
The company backed by Openai CEO Sam Altman has extended these loans to December 15 but has cut the overall loan amount to 75 million WLD. On October 24, market makers can return as many as 25 million tokens or buy them at a predetermined price, leading to a decrease in the circulating supply. Rewards for operators of Worldcoin's Orb iris scanners will switch from USDC to WLD in the coming month.
'The WLD token was launched with a relatively low circulating supply of just above 100M WLD,' Worldcoin said. 'This was due to the goal of creating a network of as many human beings as possible. To achieve this, the majority of the WLD token supply will be given to new and existing users i...
|Chatgpt Maker Openai Mulling Own AI Chips, Report Unveils
Openai, the developer of Chatgpt, is considering ways to overcome the shortage of chips needed to power its artificial intelligence (AI) product. One of the options that’s being discussed in the company, according to a recent media report, is to build its own powerful processor.Openai Reportedly Exploring Making In-house AI Chips to Deal With GPU Deficit
AI research lab Openai is mulling over the idea to make its own processors, or AI accelerators, amid persisting shortage of the expensive hardware that it needs. Demand for specialized chips has soared since last year’s launch of its AI-based chatbot.
A number of options have been discussed to solve the issue, among which acquiring a chip company and working more closely with chipmakers, not just the market leader Nvidia but other suppliers as well, knowledgeable source have told Reuters.
Openai CEO Sam Altman, who has previously expressed concerns over the scarcity of graphics processing units (GPUs) and the associated costs, has made the acquisition of more AI chips a top priority for the firm, the people familiar with the matter revealed.
But even if Openai decides to go ahead with the plan to develop a chip, which it hasn’t done yet, it will most likely remain dependent for several years on other providers like Nvidia, which controls 80% of the supply of processors for AI applications.
Openai’s generative artificial intelligence technology relies on a supercomputer which uses 10,000 of Nvidia&rsqu...
|MKR Posts 185% Year-to-Date Rally Amid Increased Network Activity: Data
Maker's native token - MKR - suffered significant losses during the market crash triggered by TerraUST in May 2022. During that period, DAI stood out as one of the leading stablecoins utilizing an algorithmic mechanism, a feature it shared with the ill-fated UST stablecoin.
Following the widespread bearish downturn, the MakerDAO team swiftly implemented measures to overhaul the collateral mechanism supporting the DAI stablecoin. The subsequent transition to a hybrid mechanism proved to be a major catalyst for the ecosystem which, in turn, catalyzed MKR's price trajectory.
Maker Surpasses Bitcoin and Ether in YTD Gains
After experiencing a collective surge in the first quarter and a relatively calm second, this current one has seen a general downward trend in the crypto market. The total market capitalization is now approaching $1.09 trillion, which is down approximately 10% from its July 2023 peak of $1.2 trillion.
Despite this overall decline, both Bitcoin and Ether have witnessed impressive year-to-date gains, with the former posting a 63% increase while the leading altcoin recorded a 40% surge. Several other assets have also demonstrated significant returns, largely driven by specific catalysts related to each.
One noteworthy example, according to the latest CoinMetrics report, is MKR, which has rallied by an impressive 185% year-to-date (YTD). In fact, MKR surpassed the $1,500 mark on October 1st for the first time since May 2022.
The report explained that the surge in MK...
|MakerDAO Secures $6 Billion For Treasury Bill Investments As MKR Dominat...
According to a Bloomberg report, MakerDAO, one of the prominent decentralized lenders in cryptocurrency, has reaffirmed its decision to invest billions of dollars in US government bonds.
This strategic move has propelled its governance coin, MKR, to reach its highest level since April 2022, outperforming other major cryptocurrencies, including Bitcoin (BTC).
MKR has experienced a remarkable surge of 77% this quarter, emerging as the best-performing cryptocurrency of the year. Despite a modest decline of 3.9% to $1,452 on Friday, the coin has nearly tripled in value.
MakerDAO Doubles Down On Treasury Bonds
As per DefiLlama data, MakerDAO currently oversees $4.6 billion in assets. The rally of MKR can be attributed to MakerDAO's 2022 decision to convert the backing funds of its stablecoin DAI into assets such as short-term US Treasuries and corporate bonds.
This strategic shift aimed to seek more stable yields amid the downturn in the cryptocurrency markets. Subsequently, MakerDAO passed a proposal enabling the investment of up to $6 billion in short-term Treasuries, doubling the existing limit.
Simon Peters, an analyst at investment platform eToro, suggests that the recent gains in MKR can be attributed to rising treasury yields following the Federal Reserve's indication of keeping rates higher for longer.
However, signs of a potential slowdown in the MKR rally have emerged. CryptoQuant data reveals a gradual increase in MKR tokens held on centralized exchanges (...
|Maker (MKR) Inks 20% Price Advance, Leads Top 50 Coins Today
Maker (MKR) is currently making waves in the cryptocurrency market with an impressive surge in value. Over the past month, MKR has exhibited remarkable growth, experiencing a substantial 40% increase in price. Today, the crypto flexes its muscle and leads the roster of top 50 coins.
One noteworthy development amidst this rally is the strategic maneuver executed by a prominent crypto whale. This entity recently deposited 3,527 MKR tokens on the Binance exchange, capitalizing on the upward trajectory of MKR's price.
This shrewd move has boosted the whale's total MKR holdings to an impressive 10,000 tokens, resulting in a staggering $5.12 million in profits. This remarkable increase in value underscores the attractiveness of MKR as a lucrative investment in the current crypto landscape.
The price of $MKR has increased by ~40% in the past 1 month and topped $1,500 today.
A smart whale deposited 3,527 $MKR($5.27M) to #Binance to make a profit an hour ago.
And currently has 10,000 $MKR($14.9M) left, the total profit is ~$5.12M(+34%).https://t.co/4atyyejMwJ pic.twitter.com/SyEBI3pNg4
— Lookonchain (@lookonchain) September 28, 2023
Maker: Impressive Metrics And Bullish Indicators
As of the latest data from CoinGecko, MKR is currently trading at $1,553, reflecting a notable 4.1% gain in the past 24 hours and an impressive seven-day surge of 20%. What sets this rally apart is the consistency in MKR's price patterns, characterized by higher highs and higher lows, a clear i...
|Maker (MKR) Rockets To $1,500 With 15% Surge, Will This Run Continue?
The Maker token, MKR, has managed to break the $1,500 level with a sharp 15% rally as on-chain data shows MKR has seen high address activity recently.
Maker Has Outperformed Top Coins With 15% Rally In Past Week
While giants like Bitcoin have struggled recently, MKR has proven to be different as the coin has observed an impressive run of bullish momentum. This metric's value can simply be looked at as the amount of traffic that the network is receiving every day.
When the indicator has high values, it means that a large number of users are participating in the trading activity of the asset. Such a trend implies that interest in the coin is high currently.
Now, here is a chart that shows how the active addresses metric has changed for MKR during the past month:
From the graph, it's visible that the Maker active addresses have climbed up alongside the rally in the asset's price. After the latest increase in the indicator, its value has hit 651, which is the highest observed in around 10 weeks.
Generally, for any surge to be sustainable, it requires continued participation from a large amount of traders. Rallies that aren't accompanied by a sufficient rise in user activity usually run out of steam before long.
Since the latest Maker surge has seen an increasing number of addresses becoming active, signs could be looking good for its sustainability. As the price continues its run, though, some investors might be tempted to harvest the high profits that they have amassed.
|MakerDAO (MKR) Defies Market Surging to 16-Month High, Here's Why
Crypto markets have been flat since mid-March, but MakerDAO’s MKR token has been on a rollercoaster ride. The crypto asset has gained a whopping 200% since the beginning of the year, hitting its highest level since May 2022 this week.
Moreover, MKR has gained around 50% in less than a month, so what is driving momentum for this DeFi asset?
MakerDAO Revenue Surging
On Sept. 27, DeFi researcher Thor Hartvigsen shared some MakerDAO fundamentals explaining why MKR has been so bullish.
Maker revenue has been surging recently, making it the largest revenue-generating protocol in the DeFi ecosystem, with a current annualized revenue of $193 million.
These numbers come from interest paid by DAI stablecoin minters from on-chain collateral and real-world asset (RWA) collateral such as U.S. Treasury bills.
The revenue has been bolstered by an expanding DAI supply and better rates on U.S. T-bills, the analyst noted.
“Maker revenue depends primarily on the total market cap of DAI as the collateral backing this stablecoin is what generates fees.”
What's Up With $MKR?@MakerDAO's native $MKR token is up 40% in 3 weeks
A post on everything you need to know about:
• Current revenue numbers
• The recent price appreciation
• Upcoming catalysts that could cause a much more serious rally… pic.twitter.com/xqyNFPQuEO
— ThorHartvigsen (@ThorHartvigsen) September 27, 2023
If the DAI supply can continue to grow, Maker revenue will keep increa...
|BTC Flatlines Above $26K, MKR Explodes 9% Weekly (Market Watch)
Bitcoin's underwhelming price performance continues as the asset has failed to move decisively within the past 24 hours.
Most altcoins are also untypically stable on a daily scale. SOL, TON, and MATIC have lost the most value.
BTC Boring at $26K
The primary cryptocurrency has produced little-to-no volatility in the past several days, ever since it dumped from over $27,000 to $26,400 after the US Federal Reserve's last FOMC meeting last Thursday.
The following days were quite dull, especially the weekend, which saw BTC trading sideways at around $26,600. Bitcoin finally went on the offensive on Sunday evening but was quickly stopped and pushed back down to $26,000 within hours.
It dipped below that level on Monday, but the bulls intercepted the move and drove the cryptocurrency north. Nevertheless, BTC failed to exceed $26,500 and has been just inches above $26,000 ever since.
As such, its market capitalization has remained at just over $510 billion, while its dominance over the alts is shy of 49%.
BTCUSD. Source: TradingView
MKR Steals the Show
Several of the larger-cap altcoins are sitting with minor losses today. These include Ripple, Cardano, Dogecoin, and Litecoin.
More daily declines come from the likes of Toncoin, Polkadot, Polygon, Solana, Chainlink. and LEO. In some of those cases, the drops are up to 3%.
In contrast, Ethereum, Binance Coin, and Tron have charted insignificant gains.
MakerDAO's native token is the top performer today as well. MKR is up by 6% over the ...
|Maker (MKR) Price Continues to Climb Higher Level, Will It Surpass $1500...
Maker DAO’s MKR has recorded a big push amid the slight uptick in the broader cryptocurrency market. Yesterday, September 25, the token rose from a low of $1,265 to a high of $1,343.
Although most tokens struggle to recover, MKR consolidated on its upswing with an impressive 5% 24-hour increase. MKR trades at $1335, striding to conquer the critical resistance at $1,350.
Its latest strides show buyers are in control, and their activity could facilitate more gains for MKR. But is the bullish momentum strong enough to push MKR to the $1,500 price mark? This comes while the overall crypto market cap recorded a slight uptick of 0.63%, with the trading volume down 4%, indicating a decline in trading activity. However, amid the sparse buying activities in the general market, MKR recorded a 47% increase in trading volume.
This observation depicts increased buy action in the Maker market. But while this increased buying strength could fuel the coin's price rally, it’s important to identify the factors behind it.
The buzz around the new proposal to deploy Spark Protocol on zkSync Era Mainnet has boosted investor sentiment. This proposal will include wETH, rETH, wstETH, and DAI as initial collaterals for borrowing on the Spark Protocol. Also, if adopted, the proposal will set a 2 million liquidity goal to spur Spark Protocol’s growth on zkSync.
Already, 100% of the Maker community voted yes to launching Spark on Gnosis Chain. This development ma...
|Whales, Fresh Wallets Accumulating, Maker (MKR) Spikes 120% In 3 Months
On-chain data reveals that whales and new wallets are scooping more Maker (MKR), which seems to be propping the token, fanning demand. As of September, MKR is one of the top-performing tokens, adding roughly 120% in three months from June 2023 lows.
When writing, MKR is changing hands above $1,300 and inching closer to July 2023 highs. Notably, MKR is up 14% in the past week of trading, driving market cap above $1.27 billion and trading volume by 36% on the last day.
Whales And Fresh Wallets Buying Maker (MKR)
Trackers note that in the last week of trading, a whale, “0xad0”, bought 1261 MKR worth $1.62 million at an average price of $1,290. Moreover, looking at the trends, whale and fresh wallet activities have been heightened over the previous week. With more accumulation, the token has been tracking higher in tandem.
Parallel data from Lookonchain confirms this development, especially from early September. Earlier this month, a whale sold $1.13 million of Ethereum and bought an equal amount in MKR on Binance.
This transaction comes a day after another entity moved $12.3 million of MKR from Binance. However, while whales appear to be loading up more MKR, Vitalik Buterin, the co-founder of Ethereum, sold his stash of MKR for ETH on September 2.
Maker Finance is a decentralized lending and borrowing platform on Ethereum. As of September 20, the protocol had a total value locked (TVL) of over $4.8 billion, according to DeFiL...
|Maker Co-Founder Proposes Future Protocol Implementation on Solana Fork
Rune Christensen, a co-founder of Maker, the Ethereum-based stablecoin protocol, has proposed to reimplement the protocol on a new chain forked from Solana. This move would be the final part of 'Endgame,' an update to the protocol that seeks to grow the stablecoin dai by enhancing 'efficiency, resilience, and participation.'
Maker Proposal Involves Protocol Reimplementation on Solana Fork
Rune Christensen, a cofounder of Maker, the stablecoin protocol behind dai, has proposed reimplementing the protocol on top of a fork of Solana, updating it to manage possible problems derived from technical failures or governance attacks. The move would be part of Maker's roadmap evolution, called 'Endgame,' designed to 'enhance efficiency, resilience, and participation' around the Maker protocol.
He defended the creation of a blockchain used only to run the backend of Maker, stating that it would 'deal with the eight years of technical debt in the protocol.' This would imply each component would be redesigned and custom-built for its exact function. However, Christensen stated that this change would take at least three years.
Solana, according to Christensen, presents three significant advantages over other chains. First, the 'highly optimized' technical quality of the Solana codebase is well-suited for operating a singular blockchain. The second advantage is related to the resilience it showed after the fall of FTX, indicating that the chain can withstand attacks and is 'likely to sti...
|No Vitalik, No Problem: Whale Sells Ethereum (ETH) For Maker (MKR)
Less than a week after Vitalik Buterin, one of the co-founders of Ethereum, sold his Maker (MKR) stash for ETH, one crypto whale has done the opposite. On-chain data on September 4 shows that one Ethereum holder sold 694 ETH, worth roughly $1.13 million when writing, for 1,010 MKR. At the time of the swap, MKR was changing hands at $1,122.
Whale Swaps ETH For MKR
As of September 4, the address, “0x3737,” had over $20.37 million worth of assets. While the whale trades against Vitalik and doubles down on MKR, zooming in on the address’s portfolio shows that the largest holding is ETH.
The address holds 10,000 ETH worth $16.3 million at spot rates, representing over 75% of the total portfolio. Meanwhile, some of his other major holdings include Arbitrum (ARB), worth $2.9 million, and MKR, worth $1.1 million.
MKR, the token issued by MakerDAO, the decentralized autonomous organization (DAO) that controls the minting of DAI, a stablecoin on Ethereum, has been ripping higher in the last few months.
MKR plays a key role in stabilizing DAO and is used as a last resort. Holders participate in governance, voting on proposals that best stabilize the algorithmic stablecoin, deciding collateral types accepted, stability fee adjustments, and others.
From June, MKR has more than doubled, rising 125% to peak at around $1,300 in early August. It is now trading at over $1,100, up 13% from August lows.
Maker Presents Endgame
|Maker (MKR) Unleashed: Price Soars 12% In One Day – What's Behind ...
In anticipation of the announcements made by the Ethereum-based Decentralized Finance (DeFi) lending platform team, the price of Maker (MKR) has experienced a remarkable surge of over 12% within hours. Now, what do these developments entail, and how will they impact the future of Maker?
Maker Empowers SubDAOs? On August 28th, the Maker team made a significant announcement regarding their plans to introduce SubDAOs in South Korea. This move represents a critical evolution for MakerDAO, marking the 'final effort' to unlock the potential of Decentralized Autonomous Organizations (DAOs).
According to the announcements made on August 28th, introducing SubDAOs is expected to streamline, innovate, and strengthen the Maker ecosystem, paving the way for increased opportunity and growth.
SubDAOs, which stands for Subsidiary Decentralized Autonomous Organizations, are expected to play a pivotal role in the next phase of MakerDAO's development. These entities will leverage liquidity allocation from the Maker Protocol, exploring various yield opportunities across the financial landscape.
From decentralized finance protocols to real-world asset solutions, SubDAOs aim to harness the potential of diversified investment strategies.
Per the announcement, this presents a unique opportunity for Korean crypto leaders to engage with the forefront of DeFi developments. Participants will have the chance to be part of forming their own SubDAO or contribute to existing ones.
|Maker Large Holders Accumulate, MKR Rally To Continue?
On-chain data shows large Maker holders have accumulated recently, a sign that the rally could extend soon.
Maker Large Holders Have Continued To Expand Their Holdings Recently
According to data from the market intelligence platform IntoTheBlock, inflows to the wallets of the large MKR investors have been taking place for a while now. The 'large holders' here refer to those investors who hold at least 0.1% of the cryptocurrency's circulating supply.
In Maker's case, this value would equal about $1.2 million. Thus, the only holders who would clear these criteria would be the sharks and whales, the largest entities on the network.
These investors generally hold some influence in the market, as they can move many tokens at once. Thus, the behavior of this cohort could be worth watching, as it may reveal answers about where the asset might be heading next.
One way to track the behavior of these humongous holders is through the 'netflow' metric, which measures the net amount of MKR that these large investors are adding into or moving out of their combined holdings right now.
When the value of this metric is positive, it means that a net number of coins is entering into the supply of these investors currently, suggesting that they are participating in buying.
On the other hand, negative values could imply that this group may be selling as its members are transferring a net amount of the asset away from their wallets.
Now, here is a chart that shows the trend in the Maker large hol...
|MakerDAO Debates New EDSR Optimization Plan As MKR Bears Retain Market C...
MakerDAO has been in the headlines recently following a boost in the maximum Dai Savings Rate (DSR) from 3.19% to 8% on Sunday, August 6. He stated that this investment strategy was mainly practiced by ETH and staked ETH whales, who now receive a higher yield at the expense of regular Dai holders, the primary target of the EDSR program.
To counter this unforeseen circumstance, Christen Rune proposed to reduce the maximum EDSR interest rate from 8% to 5%. Furthermore, the MakerDAO cofounder proposes an increment in the DAI borrowing rate to be equivalent to the EDSR rate at a minimum of 5%, thus halting the ongoing large-scale “borrow arbitrage” activities.
The proposal also states that MakerDAO should extend Tier 1 EDSR to cover a utilization range of 0-40% and introduce a Tier 2 EDSR for utilization between 40-55% with the aim of making the EDSR plan sustainable.
For context, utilization refers to the portion of the total capacity of the EDSR system that is in use. Currently, data from Makerburn states that the EDSR has an 18% utilization rate.
Originally, the EDSR maximum yield was meant to drop to 5.8% once utilization surged to 20%, albeit that would not occur upon approval of Rune’s latest proposal.
Maker (MKR) Maintains Bearish Form Amidst ESDR Success
In other news, MKR, the native token of the MakerDAO lending protocol, has seen its market price fall in recent days despite the massive boost in DAI’s market shares.&n...
|Weeks of Prosperity: MKR Holders See Wealth Grow By Over 100% Amidst Pri...
MakerDAO (MKR) has navigated a tumultuous path in the Decentralized Finance (DeFi) market since June, marked by regulatory pressures and various challenges numerous projects face. Nonetheless, a shift in focus has occurred as altcoins, spearheaded by MKR, appear to overshadow this turbulence.
Presently, the value of MKR on CoinGecko stands at $1,346, showing a noteworthy 9.1% surge within the past 24 hours, accompanied by an impressive week-long ascent of 18.0%.
From mid-June, MKR has achieved an increase exceeding 115%. This growth has effectively diminished the proportion of investors encountering losses by a significant margin of 26%.
MKR Price Report Reveals Sustained Accumulation, Whale Activity
MKR has emerged as a notable hotbed of investor interest, with a recent price report shedding light on intriguing market dynamics. The journey of MKR's price has been marked by a distinct trend of accumulation (see chart below) that has been underway since March, underscoring the growing interest and confidence among investors.
As the calendar flipped to June, the accumulation of MKR gained considerable traction. Notably, this month saw a strategic move by prominent investors, often called 'whales,' who opted to divest a portion of their holdings.
This strategic decision, seemingly aimed at capitalizing on profits, had the unintended consequence of temporarily affecting the supply.
However, the cryptocurrency market is known for its intricate interplays, and MKR's ca...
|Maker (MKR) Signals Bullish Price Formation – Is $1.300 Around The...
Maker (MKR), one of the prominent players in the decentralized finance (DeFi) space, has experienced a remarkable 11% price surge in the past seven days. Despite a slight drop in the last hour, the token's performance remains impressive.
Maker (MKR) Bullish Price Sentiment
Maker's recent price performance has been noteworthy, with a solid 11% increase over the past week. The token also recorded a 4.21% price increase in the last 24 hours, indicating strong momentum in the short term. However, a minor correction of 0.81% in the past hour highlights the market's volatility.
Currently trading at $1,220.43 per MKR, the token remains 80.75% below its all-time high of $6,339.02. While the recent price surge is encouraging, it is essential to consider the historical context and the factors influencing the crypto market's dynamics.
The MakerDAO community recently voted in favor of a temporary increase to the interest rate paid to holders of the protocol's decentralized stablecoin, DAI. This proposal introduced the Enhanced Dai Savings Rate (EDSR), a mechanism to temporarily boost the Dai Savings Rate (DSR) to users during periods of low utilization.
Proposed by Maker founder Rune Christensen, the EDSR could increase the effective DSR to 8% when the utilization ranges from 0% to 20%. In the past few months, the protocol has raised the DSR thrice: first to 1% in November, then to 3.3% in May, and finally incorporating a marginal increase to 3.49% in June. The latest EDSR proposa...
|Maker (MKR) Shows Positive Moves As Top Coins Land In The Red
MakerDAO’s (MKR) posted positive moves today even as the broader market saw a slight correction. While top coins painted charts red with bearish moves, MKR added over 3% in the last 24 hours, bringing its price to $1,139.92 at 9:25 am EST. This bullish momentum coming amid a bear market trend suggests that special factors might be behind it.
Maker (MKR) Soars Amid New Governance Proposals
Maker made the top gainers’ list on Wednesday, July 26, closely behind Compound (COMP) with 3.18% 24-hour price growth and XDC Network with an over 16% seven-day gain.
Maker’s price saw a boost due to increased ecosystem activities as the Maker Governance votes to approve or reject the new Spark Protocol changes commence.
This vote was a result of Phoenix Labs' proposed key adjustments to Spark Protocol DAI market parameters to enhance user experience.
Among Phoenix Labs’ recommendations is the adjustment Wrapped Ether (WETH) Variable Rate Slope from 1% to 3%. This adjustment is touted to encourage a healthy utilization of the DAI market, enhancing supplier return and incentivizing deposits.
It also proposed to set the DAI market loan-to-value and liquidation threshold (LTV/LT) to 0.01% and adjust the WETH market reserve factor to 5%. The adjustments will reduce the protocol fee on the ETH market and give suppliers a larger APY.
If approved, the proposed changes will raise Spark D3M's debt ceiling to 200 million DAI and set DAI Market L...
|COMP, MKR, AAVE Soar Triple Digits Weekly, BTC Loses $31K: Weekend Watch
Bitcoin's endeavor above $31,000 seems to be short-lived, at least for now, as the asset has retraced to just under that level.
Most alts are also slightly in the red on a daily scale, but the weekly charts are a whole different story for assets like COMP, MKR, AAVE, and others.
BTC Below $31K Again
Bitcoin went through a highly-volatile trading day last Friday when it plummeted from over $31,000 to a 10-day low of $29,500 in minutes. This came after a report suggesting that the US SEC deemed the recent spot Bitcoin ETF filings as 'inadequate,' which was regarded as a sign that the regulator could turn them down again.
However, the bulls intercepted the move and didn't allow any further nosedive. BTC went back on the offensive and reclaimed the $30,000 line almost immediately.
The weekend was calm, with the cryptocurrency remaining stuck at around $30,500. Monday didn't provide any fireworks, but bitcoin finally initiated a leg-up on Tuesday that drove it to $31,250 for the third time within a week or so.
However, the asset failed to overcome decisively the $31,000 level and currently sits just below it. As such, its market cap has dipped below $600 billion, while its dominance over the alts stands still at 49.6%.
BTCUSD. Source: TradingView
COMP, MKR, AAVE on the Rise Weekly
Most altcoins have mimicked BTC's 24-hour performance and have turned red. Ethereum and Binance Coin are down by just over 1% to under $1,950 and $245, respectively.
Ripple, Cardano, Polkadot, Polygon, a...
|Musk Mulls AI Startup to Rival Chatgpt Maker Openai, Report
Entrepreneur Elon Musk is preparing to launch a startup that will compete with Openai, the creator of Chatgpt, a media report unveiled. According to quoted knowledgeable sources, the owner of Twitter and Tesla is already assembling a team of developers and talking to investors.Elon Musk Reportedly Working to Establish Openai Rival, Registers X.AI Corp
Tech investor Elon Musk is putting effort into founding a startup that will rival the company behind the Chatgpt artificial intelligence (AI) assistant, Openai, the Financial Times revealed on Friday, citing people familiar with the billionaire’s intentions.
The publication claims Musk is now recruiting AI engineers while also holding talks with some investors in Spacex and Tesla, two of his best known business enterprises along with Twitter, about backing the new venture, Reuters quoted the report.
Companies like Microsoft-funded Openai and Google’s parent, Alphabet, have been working to incorporate AI into their offerings despite calls from regulators to introduce comprehensive rules for the technology before its widely implemented.
The news of Musk’s new plan comes weeks after a group of AI researchers and executives, including himself, urged for a six-month pause in developing systems more powerful than Openai’s latest GPT-4 model, warning about potential risks to society.
In fact, Elon Musk was one of the founders of Openai, launched as a non-profit in 2015, and initially co-chaired it. The investor...
|Stablecoins Worth $600k From 2021 DAO Maker Hack Sent Via Tornado Cash
Tornado Cash has, once again, found itself as the nexus of pilfered funds from a DeFi protocol.
An Ethereum wallet address associated with the exploiter of the DAO Maker breach from 2021 sent $600,000 worth of DAI stablecoin through the controversial coin mixer.
According to the blockchain security firm, PeckShield, the wallet had been dormant for more than 200 days.
The movement was detected nearly seven months after another wallet linked with the exploiter transferred $500,000 worth of DAI using Tornado Cash.
For the uninitiated, DAO Maker, a fundraising platform for crypto projects (no relation to the more widely known MakerDAO), was exploited in August 2021, draining over $7 million.
The attacker was able to access the platform's balance by taking advantage of a bug in DAO Maker's contract affecting over 5,000 accounts holding USDC.
Hacks have continued to wreak havoc in the decentralized finance space. Malicious entities targeted these protocols as the crypto market went through another bull run in 2021.
DeFi protocols went on to become by far the biggest victims of hacks, accounting for over 82% of all digital assets stolen by hackers the following year.
Throughout 2022, DeFi protocols recorded a loss of $3.1 billion, up from 73.3% in 2021.
The latest development comes in the backdrop of an exploit on the popular centralized crypto exchange Bitrue. which reported a loss of $23 million worth of digital assets in the process.
The post Stablecoins Worth $600k From 2021 D...
|Crypto Hardware Wallet Maker Ledger Raises $100M Amid Growing Demand for...
The cryptocurrency hardware wallet manufacturer Ledger has raised €100 million ($109 million) in funding, according to the company's disclosure on Thursday. Ledger CEO Pascal Gauthier says there has been significant demand for hardware wallets. He added, '2023 is even better for us because now you can't even leave money at a Swiss bank.'Ledger to Expand Distribution, Production, and Research and Development With New Funding Injection
According to a Thursday report by Bloomberg, Ledger, the cryptocurrency hardware wallet maker, has revealed it raised €100 million ($109 million) from investors. The capital raise comes at a time when crypto companies have been going insolvent and laying off significant portions of their workers. Ledger CEO Pascal Gauthier told Bloomberg's Anna Irrera that the company will leverage the cash injection to expand distribution, production, and research and development.
Gauthier noted that in 2022, people became very aware that leaving money on centralized crypto platforms can be risky. The CEO also stressed that in the traditional finance world, people are having a hard time trusting financial institutions due to the recent bank collapses. 'Suddenly people were like 'wow, to leave crypto on an exchange is actually dangerous,'' Gauthier told Irrera. 'And 2023 is even better for us because now you can't even leave money at a Swiss bank.'
Ledger's financing follows the company's announcement of a new crypto hardware wallet called the Ledger St...
|Venom Blockchain Partners with DAO Maker to Incubate Web3 Startups Focus...
[PRESS RELEASE - Abu Dhabi, Abu Dhabi, 13th February 2023]
Venom Foundation, the first Layer-1 blockchain licensed by the Abu Dhabi Global Market (ADGM), has announced a partnership with DAO Maker, a leading blockchain growth solutions provider known for their Launchpad, to incubate promising Web3 startups focused on delivering real-world use cases.
DAO Maker will actively assist in the development of the Venom ecosystem and contribute to the success of projects within the Web3 space. With DAO Maker’s support, Venom is confident that it will enable developers to make valuable contributions to the ecosystem and accelerate the growth of its community.
Venom Foundation and DAO Maker will actively incubate new projects through the Venom Launchpad. The Venom Launchpad will give promising Web3 projects and developer teams a unique opportunity to receive resources, guidance, and exposure from some of the most prominent players in the industry. It will leverage the combined expertise of DAO Maker and Venom Foundation to support startups in a wide range of areas including strategic planning, marketing and brand building.
Peter Knez, Chair of the foundation council at Venom Foundation, commented, 'At Venom, we are dedicated to pioneering innovation in the blockchain industry. Our partnership with DAO Maker is a testament to this as we incubate promising Web3 startups and bring real-world use cases to life. We are proud to be a part of this exciting collaboration and eagerly antic...