The value of maker (MKR), the governance token of MakerDAO and Maker decentralized finance (DeFi) protocol, has elevated by over 16% previously seven days.
Maker (MKR), the governance token of MakerDAO, the world’s second-largest decentralized finance (DeFi) protocol by whole worth locked (TVL $7.2 billion), has maintained a stable bullish momentum this week, defying market-wide worth corrections being skilled by bitcoin (BTC) and different crypto belongings.
Per information accessible on Coingecko, the worth of MKR hit the $947.05 mark through the early hours of March 2. Nevertheless, when submitting this report, MKR is exchanging fingers for $890, representing a 2% decline within the 24-hour timeframe.
Trying on the bigger image, MKR maintains a bullish outlook. The cryptocurrency is up by 16% within the weekly timeframe and 40.4% previously 30 days, with a market capitalization of $804,965,961, making it the 66th-largest cryptocurrency on the planet, per CoinGecko, and 57th per CoinMarketCap.
MKR weekly chart | Supply: CoinGecko
Like different established crypto belongings, MKR’s worth has been hit laborious by the extended crypto winter, down by over 85 p.c since reaching its all-time excessive (ATH) of $6,292.31 in Might 2021.
In associated MakerDAO information, experiences emerged in February that the DeFi venture is trying to make its DAI stablecoin solely accessible to its protocols and initiatives.
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