Maker [MKR] is a governance token and a cryptocurrency. Maker is a digital token which has been created on the Ethereum platform of the project Maker. The purpose of this platform is to create a line of decentralized digital assets which could be related to the value of tangible products like currency of a nation, gold, etc.
Maker is an autonomous decentralized firm on the Ethereum blockchain network having the main objective of reducing the price volatility of Dai, it own stablecoin, against the U.S. Dollar. The price of Maker itself is volatile in contrast to Dai. Maker is has been a utility token whose price increases with the usage of the Dai.
The holders of Maker [MKR] are eligible to vote for the business logic and the risk management of the Maker system. The coins of MKR cannot be mined. The coins can be bought on the Bibox exchange. Maker runs on the principle of margin trading. Dai tokens are secured by CDP-collateral for debt obligations, which have been sent to a smart contract and are a stage for margin trading. This entire stage provides developers economical prices and guarantee to high level security.
Maker [MKR] is currently standing on the 21st position in the list of cryptocurrencies across the world. Maker is currently priced at $403.48 USD which is equivalent to 0.10019953 BTC in Bitcoins and 3.54963097 ETH in Ethereum. The price of the cryptocurrency in the last 7 days has increased from $300 USD to $403 USD. If we talk about the price increase of the cryptocurrency in bitcoins the price has increased from 0.08 BTC to 0.10 BTC. Maker is currently having a market cap of $293,823,330 USD /72,968 BTC /2,584,940 ETH. In the last one week the market cap of the cryptocurrency has increased from $220 Million USD to $293 Million. The volume of cryptocurrency transacted in the last 24 hours has been $377,062 USD which is equal to 93.64 BTC in Bitcoins and 3,317 ETH in Ethereum. The circulating supply of the crypto asset has been 728,228 MKR. The total supply of the cryptocurrency has been 1,000,000 MKR.
The last 7 days have been extremely good for the cryptocurrency as they have experienced a 28.78% increase in their price. In the last 24 hours the crypto asset has had a significant 3.31% increase in its price. In the last one hour there hasn’t been much change in the price of the cryptocurrency, the price has increased by 0.97%.