Maker [MKR], Dash [DASH] Leading Today’s Gain – Ethereum 2nd Again

For starters – 

Implemented on the second largest blockchain Ethereum (ETH) network while depended on the concept of smart contracts, Maker [native token MKR] is a case when the much criticized crypo-volatility is battled an extend being backed by Ether.

Despite that Tether is one of the most popular stablecoins, much doubt surrounds the coin. Lack of decentralization and transparency, emerged proof that it is backed by the dollar and the rumors that it was used to move Bitcoin’s BTC price for one’s [group] benefit could possibly make it unworthy of its fame.

On the other hand, with the use of its MKR token, the Maker balances its DAI [stablecoin planned along fractional reserve banking ideals] which is linked close to the aforementioned tokens. The dual token concept is based on the idea that MKR can not be mined but is created or the contrary as a reply to DAI price movement so it is floating approximately $1.00 against the US Dollar.

Per time of writing, the pair MKR/USD is changing hands at $478.59 with 5.61% increase in the last 24-hours leading the BTC market for 5.86% counting the second highest gain among top-20 by market capitalization for today’s performance. While it is battling to retest the major $500.00 the token’s value has recovered and reached a monthly highest again.

MKR USD

Source: coinmarketcap

Similar to how Litecoin is a fork of Bitcoin, Dash originated as a codebase fork from the Silver Coin. Initiated as project Xcoin afterwards named Darkcoin with its founder Evan Duffield. Finally the 11th largest coin takes the name Dash that represents digital cash.

DAO or a decentralized autonomous organization is what Dash is claimed to be now. The DAO centers around Dash masternodes which stake at least 1k DASH — and should help the platform in different ways.

Despite in the past being known for a privacy centric cryptocurrency, its concentration has declined towards that matter. Attempting to hit more mainstream adoption the team is signing various partnerships during its road of improvement.

Per time of writing, DASH/USD is nearing the $80.00 as it reached $79.61 with 8.05% increase in the last 24-hours – the highest among leading cryptocurrencies according to CMC.

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

What Are E-stablecoins And How Do They Operate?
What Are E-Stablecoins And How Do They Operate?
August 11, 2022
How to Choose a Legit Crypto Casino?
August 5, 2022
Spend Crypto
5 Ways to Spend Crypto
August 2, 2022
What Is A DAO LLC?
What Is A DAO LLC?
August 2, 2022
Can Running A Lightning Node Earn You Passive Income?
Can Running A Lightning Node Earn You Passive Income?
July 5, 2022


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin24,432 0.43 % 0.21 % 6.30 %
Ethereum1,975.5 0.64 % 0.40 % 16.66 %
Tether1.002 0.15 % 0.14 % 0.13 %
USD Coin1.000 0.44 % 0.25 % 0.18 %
BNB322.65 1.25 % 2.26 % 2.26 %
Cardano0.5753 1.34 % 2.42 % 12.18 %
XRP0.3817 1.09 % 0.31 % 2.49 %
Binance USD0.9997 0.02 % 0.12 % 0.01 %
Solana42.12 0.56 % 2.22 % 3.81 %
Polkadot9.160 2.03 % 3.52 % 7.26 %

bitcoin
Bitcoin (BTC) $ 24,520.00
ethereum
Ethereum (ETH) $ 1,982.80
tether
Tether (USDT) $ 1.00
usd-coin
USD Coin (USDC) $ 1.00
bnb
BNB (BNB) $ 324.26
cardano
Cardano (ADA) $ 0.581583
xrp
XRP (XRP) $ 0.383456
binance-usd
Binance USD (BUSD) $ 0.999993
solana
Solana (SOL) $ 46.35
polkadot
Polkadot (DOT) $ 9.25