Maker (MKR) Standing Above $600.00 Withstanding Sellers

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 overcome to 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 rumours 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.


Against the US Dollar – MKR is standing strongly having one of the most positive second-month of 2019 performances out of the leading cryptocoins in the market. Going by market capitalization the 16th largest cryptocurrency – is in the green at 4.79% for the last 24-hours leading the BTC market for 4.11% making sure to position itself far upward the declining trend that has been taking place since Jan 2018.

MKR

Source: coinmarketcap

Just recently – MakerDAO decided to raise the stability fee from 0.5 to 1 with the target to decline and easier-flow fluctuations in DAI’s price peg of the US Dollar. Many appreciated and welcomed the plan set in motion as an advancement towards better economic assurances and stability by the team. Additionally, the automated ETH exchange protocol – Uniswap, took over Ethfinex exchange platform as in the first place by trading MKR against ETH.

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
Bitcoin21,535 0.08 % 7.90 % 10.08 %
Ethereum1,719.9 0.75 % 8.18 % 8.59 %
Tether1.001 0.19 % 0.10 % 0.12 %
USD Coin1.000 0.44 % 0.25 % 0.18 %
BNB286.14 0.16 % 5.87 % 11.59 %
Binance USD1.000 0.05 % 0.07 % 0.01 %
XRP0.3417 0.68 % 9.39 % 10.33 %
Cardano0.4715 0.25 % 11.31 % 11.31 %
Solana42.12 0.56 % 2.22 % 3.81 %
Dogecoin0.07067 0.67 % 10.80 % 0.44 %

bitcoin
Bitcoin (BTC) $ 21,567.00
ethereum
Ethereum (ETH) $ 1,721.19
tether
Tether (USDT) $ 1.00
usd-coin
USD Coin (USDC) $ 0.999917
bnb
BNB (BNB) $ 287.47
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.341619
cardano
Cardano (ADA) $ 0.474048
solana
Solana (SOL) $ 37.67
dogecoin
Dogecoin (DOGE) $ 0.071211