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Currently trading at $ 1,762.85 , which has fallen by -7.67% over the last 24 hours . Market capitalization is not available (market down -7.67% in 24h) . 24h volume: $66.8K. Hourly change: +0.15%. Weekly change: -5.27%.
| Date | Price | % Change |
|---|---|---|
| Now | $ 1,762.85 | - |
| 1 Hour | $ 1,765.49 | +0.15% |
| 1 day | $ 1,627.64 | -7.67% |
| 7 days | $ 1,669.95 | -5.27% |
| 30 days | $ 1,962.58 | +11.33% |
| 60 days | $ 2,060.42 | +16.88% |
| 90 days | $ 2,318.15 | +31.5% |
| Rank | #3700 |
| Price | $1,762.85 |
| Market Cap | - |
| Trading Volume (24h) | $66.8K |
Maker (MKR) is ranked #3700 based on its market cap of $0.00. MKR is trading at $1,762.85 where the total trading volume in the last 24h was $66,838.00.
Maker (MKR) is a cryptocurrency that is built on the Ethereum blockchain and is designed to be the governance token for the MakerDAO platform. The MakerDAO platform is a decentralized finance (DeFi) platform that allows users to create and manage a stablecoin called Dai (DAI), which is pegged to the US dollar.
One of the key features of MakerDAO is its use of collateralized debt positions (CDPs) to generate Dai. Users can lock up collateral, such as Ether (ETH), in a CDP and generate Dai against it. The amount of Dai generated is based on the value of the collateral and the user's desired collateralization ratio. This allows users to generate Dai without the need for a centralized authority, such as a bank.
MKR is used as the governance token for the MakerDAO platform, allowing MKR holders to vote on important decisions related to the platform, such as changes to the collateralization ratio, stability fee, and other parameters that govern the platform. MKR holders also have the power to modify the risk parameters of the platform and to liquidate CDPs in the event of a default or undercollateralization.
One of the key benefits of Maker is its stability as a stablecoin. Dai is designed to maintain a 1:1 peg with the US dollar, providing a stable store of value and a means of payment within the MakerDAO ecosystem. This stability is achieved through a combination of market incentives, such as the stability fee, and an active governance process that allows the community to adjust the parameters of the system.
Maker has gained significant adoption in the DeFi space and has been listed on several major cryptocurrency exchanges. The cryptocurrency has also been used to fund a variety of DeFi projects and has been integrated into several other DeFi platforms and services.
Despite its successes, Maker has faced several challenges, including volatility in the price of MKR, which can impact the stability of the Dai stablecoin. The platform has also faced criticism for its reliance on Ethereum, which can be slow and expensive for transactions during times of high network congestion.
In conclusion, Maker is a cryptocurrency that is built on the Ethereum blockchain and is designed to be the governance token for the MakerDAO platform. The platform allows users to create and manage a stablecoin called Dai, which is pegged to the US dollar, and is achieved through the use of collateralized debt positions. MKR is used as the governance token for the platform, allowing MKR holders to vote on important decisions related to the platform. While Maker has gained significant adoption in the DeFi space and has several unique features, it also faces several challenges, including volatility in the price of MKR and reliance on the Ethereum blockchain.
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