2023-10-06
Maker is the top gainer cryptocurrency
of 2023. The price of Maker native token MKR increased from about $830 in May 2023
to about $1,400 in October 2023. Maker price increased 68% in 5 months, making
it one of the best performing crypto in 2023.
Maker Protocol creates smart contracts that power Dai. Dai stablecoin is the driving factor of
success for Maker. Dai is the third largest stablecoin after USDT and USDC.
Maker (MKR) is the utility and governance
token of MakerDAO ecosystem. The main utility of Maker (MKR) is for voting on
Dai and Maker protocol.
Maker (MKR) 1 year price chart.
MakerDAO Ecosystem
MakerDAO is a decentralized autonomous organization that govern Maker Protocol and Dai stablecoin.
Dai
It is a decentralized stablecoin. Dai
is back by collaterals such as ETH, treasury bonds, USDC, stETH (It is a token
that represent ETH that is being staked to run blockchain network). Dai has market cap of $3.827 billion.
Spark Protocol
Spark Protocol developed by Maker. It
is a lending platform for Dai stablecoin. Dai has an APY of 5% on Spark. It has
$469 million TVL.
Borrowers can borrow Dai stablecoin by
collateralize ETH. Furthermore, Dai has been used in many DeFi platforms such
as Aave and Curve Finance.
MKR the governance token of Maker is
currently valued at $1,478 with market cap of $1.445 billion and fully diluted
market cap of $1.487 billion. It ranks 32nd largest crypto by market
cap.
