- Maker’s value rose greater than 7% to guide altcoin features alongside Kaspa and Injective.
- The acquire for MKR comes as new progress momentum emerges on the again of an enormous $1.35 million Endgame audit competitors.
- In a latest submit by MakerDAO, the Sherlock blockchain safety platform will host a bug looking contest from July eighth to August fifth, 2024.
The worth of Maker (MKR) is on the rise for the day because the cryptocurrency, together with Kaspa (KAS) and Injective (INJ), achieved the very best features among the many high 100 cryptocurrencies by market capitalization.
Information from CoinMarketCap reveals that the value of the MakerDAO management token has elevated by 7% within the final 24 hours.
MKR traded to lows of $2,335 on Wednesday. Nevertheless, a major uptick in shopping for stress noticed it breach the $2,400 resistance on Thursday morning and attain intraday highs of $2,561.
On the time of writing, Maker’s 24-hour buying and selling quantity is over $116 million, up 47% over the interval. In the meantime, the market capitalization rose by 7% to greater than $2.3 billion.
Why is the value of MKR rising in the present day?
Whereas a lot of the altcoin market continues to battle with bearish stress, Maker appears to have acquired a brand new dose of optimism after MakerDAO’s massive announcement on Tuesday.
This was along with the official launch of the Endgame Audition Contest, a bug-spotting contest the place contestants will earn a whopping $1.35 million in prize cash. MakerDAO’s announcement says the competitors will likely be run on the Sherlock blockchain safety platform.
“DeFi makers are invited to take part within the largest bug-finding competitors in area with a complete reward of 1,350,000 DAI,” the Maker staff stated in submit on X.
Sherlock calls it’s “the most important audit competitors in historical past”.
In line with MakerDAO, the competitors is geared toward neighborhood collaboration to enhance the safety of the blockchain platform for Endgame merchandise forward of the Maker launch season. Bug-hunt will likely be held from July 8 to August 5, 2024.
MKR reached an all-time excessive of $6,292 in Might 2021.
