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Maker
BNB Maker thumbnail icon

$3522.660 USD

0.06299002 BTC

Market CapVolume (24hr Reported)Volume (24hr Normalized) Circulating SupplyTotal Supply
$3179234424 USD943556.45039937 BTC943556.45039937 BTC901683 mkr995239 mkr

About Token Maker thumbnail icon

MKR is a cryptocurrency depicted as a smart contract platform and works alongside the Dai coin and aims to act as a hedge currency that provides traders with a stable alternative to the majority of coins currently available on the market. Maker offers a transparent stablecoin system that is fully inspectable on the Ethereum blockchain. Founded almost three years ago, MakerDao is lead by Rune Christensen, its CEO and founder. Maker’s MKR coin is a recent entrant to the market and is not a well known project. However, after today it will be known by many more people after blowing up 40% and it is one of the coins to rise to prominence during the recent peaks and troughs. After being developed by the MakerDAO team, Maker Dai officially went live on December 18th, 2017. Dai is a price stable coin that is suitable for payments, savings, or collateral and provides cryptocurrency traders with increased options concerning opening and closing positions. Dai lives completely on the blockchain chain with its stability unmediated by the legal system or trusted counterparties and helps facilitate trading while staying entirely in the world of cryptocurrencies. The concept of a stablecoin is fairly straight forward – it’s a token that has its price or value pegged to a particular fiat currency. A stablecoin is a token (like <a href="https://www.coingecko.com/en/coins/bitcoin">Bitcoin</a> and <a href="https://www.coingecko.com/en/coins/ethereum">Ethereum</a>) that exists on a blockchain, but unlike Bitcoin or Ethereum, Dai has no volatility. MKR is an ERC-20 token on the Ethereum blockchain and can not be mined. It’s instead created/destroyed in response to DAI price fluctuations in order to keep it hovering around $1 USD. MKR is used to pay transaction fees on the Maker system, and it collateralizes the system. Holding MKR comes with voting rights within Maker’s continuous approval voting system. Bad governance devalues MKR tokens, so MKR holders are incentivized to vote for the good of the entire system. It’s a fully decentralized and democratic structure, then, which is an underutilized USP of blockchain tech. Value volatility is a relative concept among both cryptos and fiat currencies. The US dollar, for example, was worth 110.748 yen on July 9, 2018. On July 4, 2011, $1 was worth 80.64 yen, and on March 18, 1985, $1 was worth 255.65 yen. These are major differences in exchange rates, and inflation within each country makes each currency worth different values even when compared to themselves. One USD in 1913 is worth the equivalent of $25.41 today, and even $1 in 1993 is worth the equivalent of $1.74 today. Stablecoins don’t negate these basic economic principles of value. Instead, both Tether and Dai have values pegged to the U.S. dollar. This is done to stabilize the price.

Coin Statistics

Price$3522.660
Price Change % 24H8.365%
24H High$3816.530
24H Low$3202.610
Market Rank3
Market Cap$3179234424
Market Change 24H217071035.000%
Market Change 24H %7.328%
Exchange 24 Hour Vol943556.45039937 BTC
Exchange 24 Hour Vol Normalized943556.45039937 BTC
Circulating Supply901683 mkr
Total Supply995239 mkr
All Time High$4102.110
All Time High Change %$-13.454%
All Time High Date2021-04-15T17:54:34.000Z

Coin Scores

mkt_cap_rank3
coingecko_rank4
coingecko_score68.221
developer_score73.265
community_score64.547
liquidity_score84.436
public_interest_score13.475
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