Maker
About Maker
The price of Maker (MKR) is $1,518.57 today, as of Sep 16 08:11 p.m., with a 24-hour trading volume of $64.43M. Over the last 24 hours, the price has decreased by -3.22%. Maker currently has a circulating supply of 933,298.18 and a market cap of $1.42B.
Maker (MKR) is an Ethereum-based DeFi lending platform founded by Rune Christensen, that allows users to lock ETH into smart contracts to mint Maker’s Dai stablecoin. Major decisions like protocol upgrades are made by MakerDAO, a decentralized autonomous organization (DAO) made up of MKR token holders.
MKR and DAI are the native cryptocurrencies of the MakerDAO protocol. In addition to enabling governance for holders, MKR also fluctuates with the price of DAI to ensure the stablecoin remains at $1 and gives holders the opportunity to receive interest from outstanding deposits.
The Maker price reached its all-time high of $6,349 at the start of May 2021 before tracking downwards toward the $2,000 mark over the next two months. It subsequently traded in the $2,000-4,000 range for the rest of the summer and into the fall.
Since MKR stabilizes DAI, the token was launched without an initial coin offering (ICO). However, investors looking to participate in the platform’s governance functionality have invested in MKR tokens including Paradigm, Dragonfly Capital, 1Confirmation and others.