Maker Price today is $1,803.48 - Maker exchanges, Maker Price prediction, market live

maker Maker (MKR)

$1,803.48
-1.58% (24H)
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Market CapVolumeAvailable Supply
$1.62 B $83.95 M901,311 MKR

Maker price today is $1,803.48, Maker price -1.58% down in 24h, Maker market cap is $1.62 B, Maker exchanges, Maker price prediction, price charts, market live

Maker cryptocurrency price prediction - maker price live, charts, market

 

MakerDAO is a decentralized autonomous organization in the Ethereum ERC 20 blockchain. Maker works alongside the Dai (the native token of MakerDAO)  to minimize the cryptocurrency price volatility.

Maker DAI is a stable price coin than other cryptocurrencies available in the market.

A stable coin is "the token that has its price or value pegged to a particular fiat currency"

Tether is another Stable coin whose price is equivalent to 1 USD.

Stable coins allow exchanges to provide their users as an alternative to fiat currencies.

Stable Coins are needed to mitigate the market risk of mercurial crypto-assets in order to prevent huge fluctuations in value.

Normal cryptocurrencies like Bitcoin, Litecoin are the riskier option for direct payment or collateral use due to their price volatility.

Maker DAI is suitable for payments, savings, or collateral use and provides traders with increased options.

MKR is a speculative Ethereum based asset that backs the value of the Maker DAI.

In contrast to Dai, MKR is a utility token, governance token and recapitalization resource of the Maker system, and it has a volatile price because of its unique supply mechanics and role on the Maker platform.

MKR is used to pay the fees accrued on CDPs that generate Dai in the Maker system, and if demand for Dai and CDPs increases, the demand for MKR should also increase.

On top of this, when stability fees are paid with MKR, the MKR spent is permanently destroyed. This reduces the total MKR supply, thus increasing its value.

Maker DAO earns a continuous fee on all outstanding Maker DAI in return for governing the system and taking on the risk of bailouts.

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