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Shift toward full decentralization pushes Maker (MKR) price above $4K

Published 04/15/2021, 09:05 PM
Updated 04/15/2021, 10:40 PM
Shift toward full decentralization pushes Maker (MKR) price above $4K

Stablecoins have become a significant foundational piece for the cryptocurrency sector because they serve as a deeply liquid base pair for most assets and also offer investors a secure place to capture gains. Data also shows that stablecoins play a significant role in functioning as a gateway for capital inflow to the crypto ecosystem.

While the largest stablecoins in the market are currently controlled and issued by centralized entities like Tether or Circle, DAI and its issuer Maker (MKR) is one stablecoin project that keeps with the ethos of decentralization that the cryptocurrency community is founded on.

MKR/USDT 4-hour chart. Source: TradingView
DAI supply vs. price. Source: Coin Metrics
Total value locked on MakerDAO. Source: Defi Llama
VORTECS™ Score (green) vs. MKR price. Source: Cointelegraph Markets Pro

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