De-Fi refers to a financial system that is not centralized. Maker is one of the first decentralized finance projects in the crypto space, with the goal of bringing decentralized finance to retailers. This is accomplished through the development of dApps on a smart contract-enabled ecosystem. This is where MKR takes a stand
DAI is one of the world’s most popular stablecoins. Its value is linked to the US dollar. On coinmarketcap, the DAI is now ranked 35th, with a market dominance of roughly 0.25 percent. The average daily trade volume has climbed by nearly 37.23%. The total number of DAI in circulation is estimated to be around 6.74 billion.
MakerDAO and Maker Protocol are decentralized organizations as well as software platforms for managing DAI. It enables users to create and administer DAI stablecoins.
Native Token – MAKER
MKR is MakerDAO’s and Maker Protocol’s native token. It is used for voting and governance. Holders can vote on a variety of protocol changes. The following are some of the topics on which people can vote:
- DAI Savings Rate: Users can save money on their DAI and gain prizes. They have the ability to alter the savings rate.
- Oracles
- Platform upgrade
- Changes to risk parameters
- New collateral asset types
- The amount of DAI in circulation is controlled by the burning and issuance of MKR tokens that represent DAI.
Price Movement
At the time of writing, MKR is being traded at the price of $2,254 with a decrease of almost 7% in the last 24 hours. MKR is a really strong token fundamentally. The maximum and minimum today are $2,238 and $2,249 respectively. The daily trading volume has increased by almost 10%. MKR had created its ATH in March 2021 and reached a price of almost $6348. Even after the reversal, the coin still hasn’t been able to recover from the damage and is trading at the price it had around July.
MKR has a circulating supply of almost 987K coins and a maximum supply of almost 1M. It is listed on coinmarketcap at rank 60th. It can be exchanged on Binance, FTX, Huobi Global.
Price Prediction – Maker (MKR)
According to wallet investor thinks that MKR is a good investment. According to them, in one year, MKR would be worth around $4,590. In a five-year time span, the price is expected to reach a value of $13,432.