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On ‘Friday the 13th', the crypto market was slowly recovering from its scare the previous day, when Bitcoin slipped below $27,000. At press time, though, most of the top 100 coins and tokens were still in the red.
Amid Terra's collapse, investors have flocked back to Maker's native governance token and the DeFi protocol's native stablecoin DAI.
Maker crypto prices saw a steep upswing in the wake of Terra's price meltdown, as investors seek out new stablecoin plays.
Its top rival may not be around much longer.
Due to a sudden price drop of its competitor Terra(LUNA), the MKR/USDT pair has witnessed a significant inflow as investors are safer with DAI stablecoin. As a result, the altcoin nearly jumped 80% on its intraday level and reached a high of around $2300.
Maker (MKR) is governance token of MakerDAO and Maker Protocol
Maker's (MKR) price has jumped nearly 50% in the last few hours on speculation over replacing Terra's dominance in DeFi. The DeFi token behind the DAI stablecoin seems to be benefitting from the fall of its competitor Terra's UST.
Bitcoin price settled above the USD 31,500 level. However, BTC is still facing a strong resistance above USD 32,000 and near USD 32,500. It is currently (11:48 UTC) consolidating near USD 31,600 and is almost unchanged in a day and down 16% in a week.
Could the carnage be coming to an end for these high-growth cryptos?
Elrond EGLD/USD, Maker MKR/USD, and FTX Token FTT/USD are all solid tokens that have seen recent increases in their value, even despite the broader market dip. This makes them solid tokens to buy throughout this dip, and we are going to go over each token individually to see why this is the case. On May […] The post Best tokens to buy during the May dip appeared first on Invezz.
MakerDAO over the last month has noticed a significant reduction in the total value locked on the protocol, reducing from $17 billion to $12 billion as of today. Now while the broader crypto market has been taking a hit, Maker, in particular, has seen the worst of it.
The increased popularity of the Terra ecosystem saw Anchor surpass Maker in total value locked (TVL) last month. The post Anchor (ANC) Surpasses Maker (MKR) in Total Value Locked appeared first on BeInCrypto.
