Tanya Abrosimova
Independent Analyst
- The coin is supported by recent fundamental developments.
- MKR is growing within the recent range.
Maker (MKR) is the 16th largest coin with the current market value of $722M. Following a series of positive fundamental developments the coined continued to climb up the ladder towards the top of top-20 list. At the time of writing, MKR/USD is changing hands at $715, gaining nearly 2% on a day-on-day basis.
The coin topped at $849.50 on February 24, though the gains proved to me unsustainable as it retraced towards $700.00 handle and stayed in a narrow range around the current levels for about a month.
MKT is a governance token of Maker Platform that aims to create a range of decentralised digital assets pegged to traditional financial instruments and assets like fiat currencies, gold and others. MKT is used to reduce volatility of the platform’s stablecoin Dai.
In the latest development, a Korea-based cryptocurrency wallet service Airwallet integrated Maker’s collateralized debt position (CDP) system further promoting the coin’s adoption
“Global adoption continues! Korean @airwallet_hq integrates @makerdao CDP system. It’s the first Korean project to integrate CDP!,” Maker’s team wrote in the official Twitter account.
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