Maker (MKR) current price is $711.53 with a marketcap of $518.22 M. Its price is -0.32% down in last 24 hours.
- Maker (MKR)
- Live Price $711.53
24h % -0.32%
- Market Cap$518.22 M
- Volume$3.06 M
- Available Supply728,228 MKR
More Info About Coin
Cryptocurrency is a wide market. This has made its volatility to get relatively high. In the era where no one is sure about which crypto route to follow, Maker (MKR) comes to your aid with some news that is music to your ears.
If you are looking for a safe and solid investment in the crypto market, then you must have landed on the right page. The following piece seeks to empower you concerning the Maker cryptocurrency so that you will be fully empowered.
What is Maker (MKR)?
MKR is the decorum token for Maker. It can be well explained as a basis for a simple banking system that is built on blockchain. These blockchain allows international monetary transactions in a peer-to-peer transfer mode.
Simply put, Maker MKR is a haven that avoids the volatility of the rest of the markets by maintaining its stability.
Purpose of the cryptocurrency can be wrapped up in the benefits that it will give to its users. A major benefit for MKR is that it will close CDPs.
When this happens, the user has to destroy some amount of DAI that is equivalent to the amount they created. A small interest fee is charged on the MKR. When the MKR is destroyed, its supply is reduced while its price is increased due to the demand created. The demand for DAI will continue shooting high, the users will create new CDPs and eventually close them to regain their collateral.
History of the coin
Maker had its first tradable token in Ethereum network in August 2015. It was later launched in April 2016. Cryptocurrency maker is a digitalized token that was created on Ethereum blockchain basis. The purpose for its creation was to create a decentralized digital tool that enhances trade of tokens. Before the release of its platform, its funds came through the exchange of Bitcoin MKR tokens.
Purpose of the coin
Anybody investing in cryptocurrency must be willing to take risks. However, one has to find the cheapest means that will neutralize the risk such that the risk, if it occurs, will leave behind fewer impacts. You do so by projecting the future of your investments. Thus, unlike other cryptocurrencies, Maker is liable to neutralize your risk a great deal. Unlike other tokens, MKR has a ready product by the name DAI. It is governed by a transparent system that connects the investors token with his or her product.
Further, Maker is good for purchasing dips. In case there is a drop in global prices due to global settlements or hacking, the stability of Maker will remain due to consistent DAI demand. Maker is an awesome token with great and potential future. It has the potential to give returns in future.
The Maker Team
Maker came into being in the year 2015. Its inception is linked to the founder Rune Christensen who happened to be a graduate from the University of Kobenhavns in Denmark. He developed a team of reliable men and women to an impactful community. One of them (Peter Nielson) came as software scientist. To date, he holds the position of Head of Product.
The maker community is active and significant. A big percentage of the people are interested in the maintenance and development of the product. The product is highly technical such that user base has to attract blockchain experts during subscription and investment.
Basically, there are forty-four people listed on the Maker project page. This team has done a great job; they make weekly voice calls to MKR holders to notify them of their progress.
However, narrowing down to Maker, they the number grows. There are numerous holders who aid the project to push through.
The bottom line
Although the Maker is highly ranked in the recent past, they still list some risks associated with all cryptocurrencies. The main risk for the crypto is the malicious attack from hackers. However, Maker seeks to counter the challenge throughout sourcing the input of external security audits. They also plan to incorporate formal verification of the smart contract code.
Overall, it is apparent that you won’t have to risk your investments as long as Maker is in existence. Having overthrown the giant tether, one of the leading cryptocurrency, gives you more reasons than doubts. Maker is, therefore, a reliable investment at the time when the current prices are high. Understanding the token deeper will brace you with more confidence to get into the pool.
Pros & Cons
|Stability, 1 Dai = $1||Price of MKR grows as Ethereum's price gows|
|Allows you to borrow money|
|As a governance token, MKR holders have the responsibility of making risk based decisions that will influence the future health of the system|
BCrypto Investment Tip
Maker is a very interesting projects not many people heard of eventhough it ranks in the top 30 cryptocurrencies and hasa market cap of over $500 million. We need stable coins in the crypto space in order to see the world adopting cryptocurrencies, that's where Maker comes in with its Dat asset-backed currency, 1 Dai will always be worth $1 no matter what, this makes it very easy for new people to get into cryptocurrencies without the risk of losing their money because of volotality and manipulation. If you compare ETH's chart and MKR's chart you will notice that at the end of 2017 and the beginning of 2018, both of these coins were valued at almost the same price, but Maker held its ground around the $500 level where as Etherem droped below $200 which goes to prove the strengh of this project.