Cointime

Cointime

Download App
iOS & Android
Home / Point

MakerDAO's MKR Token Spikes 38% in 10 Days

MakerDAO's native token MKR has experienced significant gains in July, with a rally extending its gains in 2021 to 122% from its low of $506.8 on January 1. On July 25, MKR spiked by over 12.5% to reach a daily high near $1,195 before correcting. The platform's recent announcement of a token buyback program and roadmap for updates, including plans to enter the AI sector and launch several internal AI tools, may have contributed to the token's rally. However, the bears are defending the $1,200 price level aggressively, while bulls are trying to ensure that MKR price consolidates above the $1,050 support level.

Maker Maker $2,800.83
+1.38%
MakerDAO Rally
Comments

All Comments

Recommended for you

  • Cointime's Evening Highlights for May 24th

    1. CryptoPunks Launches “Super Punk World” Digital Avatar Series

  • Pudgy Penguins and Lotte strategically cooperate to expand into the Korean market, and the floor price rose by 3.1% on the 7th

    The NFT series "Pudgy Penguins" has recently announced a strategic partnership with South Korean retail and entertainment giant Lotte Group on the X platform to expand its market in South Korea and surrounding areas. More information will be announced in the future. According to CoinGecko data, the floor price of Pudgy Penguins is currently 11.8 ETH, with a 7-day increase of 3.1%.

  • CryptoPunks Launches “Super Punk World” Digital Avatar Series

    Blue-chip NFT project CryptoPunks announced the launch of "Super Punk World" on X platform, which is the project's first release of 500 digital avatars inspired by the iconic CryptoPunks features and combined with Super Cool World attributes. It is reported that the series may launch auctions in the future, and more details about the collection and auction of this series will be announced soon.

  • Drift Foundation: The governance mechanism is gradually being improved, and DRIFT is one of the components

    The Drift Foundation stated on the X platform that the DRIFT token is a component of governance and a key element in empowering the community to shape the future. The governance mechanism is gradually improving, and more information will be announced soon.

  • U.S. senators propose spending $32 billion to develop AI and build safeguards around it

    A bipartisan group of four senators led by Chuck Schumer, the leader of the majority party in the United States, has proposed that Congress spend at least $32 billion over the next three years to develop artificial intelligence (AI) and establish safeguards around it.

  • CryptoQuant: Bitcoin demand is now in acceleration mode again after two months of decline

    On May 16th, cryptocurrency analysis company CryptoQuant stated in a report that despite a rebound in Bitcoin demand from the low point of the accumulation range, after two months of downward trend, Bitcoin demand is once again in "acceleration mode".

  • Fed's Schmid: Low interest rate environment "may not necessarily" return

    The Federal Reserve's Schmid said that the overall economy is still strong. Inflation is still too high, and the Federal Reserve has more work to do. Interest rates may remain high for a period of time, and I prefer to reduce the Federal Reserve's balance sheet as much as possible under the premise of compliance with the operating framework. The low interest rate environment may "not necessarily" return.

  • a16z partner: Americans have accepted digital assets, but current regulatory approaches limit innovation and privacy

    Web3 supporter and a16z partner Chris Dixon (cdixon.eth) posted on social media that in the next two weeks, the House of Representatives will vote on the most important crypto legislation to date, the "21st Century Financial Innovation and Technology Act" (FIT21). We have long called for clear regulation to protect consumers and innovation, and the FIT21 bill will achieve this.

  • Tether CEO: Ripple CEO's comments spread fear about USDT

    According to reports, Tether CEO Paolo Ardoino responded to comments made by Ripple CEO Brad Garlinghouse in a recent interview about the stablecoin Tether (USDT) on social media. Garlinghouse stated in the interview that the US government is pursuing Tether, which is clear to me. Ardoino said that an uninformed CEO leading a company under SEC investigation launched a competitive stablecoin (cui prodest), spreading fear about USDT. Ardoino emphasized Tether's critical role in providing financial services to unbanked communities in emerging and developing regions, which are often overlooked by traditional financial institutions. He further asserted that Tether adheres to strict transparency and regulatory compliance standards, as evidenced by its compliance with the OFAC/SDN list, its partnership with Chainalysis, and its extensive collaboration with international law enforcement agencies to detect and prevent illegal activities, thereby enhancing the security of its ecosystem.

  • MakerDAO co-founder: DeFi front-end may need a license to operate in Europe

    Rune Christensen, co-founder of MakerDAO, has warned that the EU's specific interpretation of the MiCA regulations could lead to a disruption of DeFi development. Christensen stated that there are reports that financial regulatory authorities in Europe may require every DeFi frontend in the region to register and operate under a license. He is concerned about the potential impact of this decision and stated that "it would make DeFi frontends based on regular internet domain names unfeasible." Additionally, Christensen explained in detail that only decentralized or locally downloaded frontends can operate, as well as those that adopt KYC measures and procedures.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company