Up 49% In A Week, What’s Going On With Maker (MKR)?
I just wrote about Maker exactly a week ago.
The news was that a16z crypto had taken a $15 million stake in Maker. And a16z crypto is part of Andreessen Horowitz.
Since then MKR has ripped higher by 49%!
Obviously, one catalyst is the investment by a16z crypto.
But besides that Maker is rallying on the success of its stablecoin, DAI.
Recall that the DAI stablecoin is collateralized with ETH (and soon more tokens).
To date roughly 800,000 ETH has been locked up to create DAI. And the more DAI that is created, the more it benefits MKR holders.
And then also consider the fact that DAI has remained stable since its launch. Even through the tough bear market.
Add it all up and people are liking Maker.
I just wish I bought some last week!
and trade cryptos on Binance
and Bibox...
And delegate SP with MinnowBooster Crypto + Daily Fantasy Sports =No Limit Fantasy Sports
Darn is the need of usd peg that much?
Or are people shorting maker? That what decentralized usd pegs basically are...
Well USDT already got $3b so the demand is there.
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i think its because makers doing good partnerships and trading competitions like this https://twitter.com/KuCoinUpdates/status/1072071912325595136