0

Rank

Maker, MKR

$337.17 ( -1.32% )

Market Cap

$339 050 200

24 Hour Volume

$2 230 361

Available Supply

1 005 576

Maker / US Dollar Chart, MKR/USD ()


Open: 0.0
High: 0.0
Average: 0.0
Close: 0.0
Low: 0.0
Change: 0.0%

#
Exchange
Pair
Volume
Volume (%)
1.
MKR/BTC
476 241 USD
21.35 %
2.
MKR/USDT
422 488 USD
18.94 %
3.
MKR/ETH
378 935 USD
16.99 %
4.
MKR/BTC
307 062 USD
13.77 %
5.
MKR/TRY
150 901 USD
6.77 %
6.
MKR/ETH
104 665 USD
4.69 %
7.
MKR/USDT
72 109 USD
3.23 %
8.
MKR/BTC
38 362 USD
1.72 %
9.
MKR/ETH
36 005 USD
1.61 %
10.
MKR/USDT
31 391 USD
1.41 %
11.
MKR/BTC
26 561 USD
1.19 %
12.
MKR/ETH
26 255 USD
1.18 %
13.
MKR/ETH
25 349 USD
1.14 %
14.
MKR/USDT
23 394 USD
1.05 %
15.
MKR/BTC
22 765 USD
1.02 %
16.
MKR/KRW
22 335 USD
1.00 %
17.
MKR/BTC
17 953 USD
0.80 %
18.
MKR/DAI
11 750 USD
0.53 %
19.
MKR/BTC
8 545 USD
0.38 %
20.
MKR/USD
6 209 USD
0.28 %
21.
MKR/USDT
5 779 USD
0.26 %
22.
MKR/BTC
4 879 USD
0.22 %
23.
MKR/USDT
2 368 USD
0.11 %
24.
MKR/BTC
2 265 USD
0.10 %
25.
MKR/ETH
2 151 USD
0.10 %
26.
MKR/BTC
1 109 USD
0.05 %
27.
MKR/ETH
1 057 USD
0.05 %
28.
MKR/BTC
837 USD
0.04 %
29.
MKR/ETH
391 USD
0.02 %
30.
MKR/DAI
247 USD
0.01 %
31.
MKR/USDT
1 USD
0.00 %
32.
MKR/DAI
0.0 USD
0.0 %
33.
MKR/ETH
0.0 USD
0.0 %
34.
MKR/ETH
0.0 USD
0.0 %
35.
MKR/BTC
0.0 USD
0.0 %

About Maker


Maker project is a decentralized autonomous organisation — MakerDAO, consisting of the community, the Maker Foundation and Dai Foundation nonprofit organisations, and the Maker protocol. The protocol was created for building a new stablecoin model, which makes possible the realisation of the alternative to tokens issued by commercial companies and pegged to a specific fiat currency.

Maker crypto project was founded in late 2014 by Rune Christensen. He is the CEO of the Maker Foundation. The official launch took place only in November 2017.

Maker cryptocurrency features

Any user can create his own stablecoins in MakerDAO. To work it out, a smart contract is written and placed on the Ethereum blockchain. New stablecoins should be secured with ETH coins by default. In this case, ethers act like a guarantee of stability. In the DAO, such a smart contract is called a ‘collateralized debt position’ (CDP). Besides the ethers, any tokens of ERC-20 standard can be used as collateral, if approved by the Maker holders.

Maker utility token is used by those who act as managers whose decisions affect the work of the project. By storing tokens at the voting contract address, MKR holders get the right to vote on the initiated proposals. The more votes the motion gains, the higher goes its priority in the realisation queue. Proposals chosen by MKR holders can affect the protocol update and further project development, as they affect its work logic, functioning basics and risk management. Such democracy positively affects on the Maker to the US dollar exchange rate.

In addition to applying for voting, MKR is required to pay a fee for the use of smart contracts (when closing a CDP). Among all the ERC-20 standard tokens, Maker takes the third place after Wrapped BTC and PAX Gold, if tokens are ranked by price. They overcame it only because the price of WBTC is pegged to the price of bitcoin, while the price of PAXG is pegged to the price of gold per ounce. Since listing on exchanges, the Maker price has not fallen below 200 US dollars.

MakerDAO team also created a native stablecoin DAI, which price is pegged to USD, that means, it will always cost 1 dollar. Technically, it is an ERC-20 standard token, so transactions with it are also conducted through the Ethereum blockchain. Initially, there were even two kinds — Single Collateral DAI (SAI) and Multi-collateral DAI (DAI). Support for SAI ceased on 11 May 2020, so a more advanced and flexible stablecoin remained.

Token prospects and Maker price prediction

Due to the fact that the token works on the Ethereum blockchain, Maker’s chart periodically shows trends similar to changes in the ether price. Nevertheless, wide incongruities occur, too. For example, since mid-September 2018, ETH has not been showing itself for two months, while MKR rose from 308 to 753 USD, but then adjusted to 696 USD. The reasons could be news from the project team, they were often published that time and many of them were of significant updates.

The next individual rise of the Maker price from 370 to 788 USD took place in the February-March period of 2019, although there was little news then. In addition, another rise associated with the announcement of the Multi-collateral DAI took place in the first half of November. The price has risen from 530 to 673 USD. It is interesting to note that immediately after the appearance of DAI, from 18 November, MKR began to become cheaper, as did ETH.

All changes are largely dependent on the token holders. If developers are preparing something interesting, then first they consult with the holders. So the Maker predictions could be done after each voting announcement, or with an eye on Ethereum.

After the cryptocurrency market crash that happened back in March, MKR has restored the price with an increase of 56.12% — from 213.98 USD (16 March) to 334.07 USD (16 May).

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