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MakerDAO increases 30% after voting for the “Real World” loan guarantee

June 10, 2020

The MakerDAO (MKR) price has increased by approximately 30% in the last 24 hoursand hit a new high of $ 720 on some exchanges.

The rise follows a 45% high at the end of May for MKR’s second Coinbase Pro. The daily high showed a 100% increase in two weeks.

MKR / USD on Bitfinex

MakerDAO increases 30% after voting for the “Real World” loan guaranteeMakerDAO increases 30% after voting for the “Real World” loan guarantee

MKR / USD pair on Bitfinex: TradingView

Compared to Bitcoin (BTC), the rally showed that Maker was above its upper range by 2020, rising to a local high of 0.076 BTC before quickly retreating to 0.060 BTC. MKR is currently trying to establish support near 0.070 BTC.

MKR / USD on Bitfinex

MKR / USD pair on Bitfinex: TradingView

According to DeFiMarketCap Maker currently represents almost a third of a total of $ 2,400 million DeFi token market cap.

Coinbase Pro lists MKR again

Coinbase Pro MKR was struck off the list last year after not attracting any significant liquidity, but the largest U.S. cryptocurrency exchange is now Bet that the growth of DeFi will lead to more speculation in the markets.

MakerDAO is now one of the 24 best crypto assets by market cap. It accounts for more than 50.5% of the total amount locked in DeFi at almost $ 500 million.

Maker supports the “Real World” credit guarantee

MKR’s recent high is in the midst of a community poll that shows strong support for non-crypto-native assets as security for creating DAI.

Currently MakerDAO users can block Ether (ETH), Wrapped Bitcoin (WBTC), Basic Attention Tokens (BAT) or the Stablecoin USD Coin (USDC) to fund DAI loans.

The vote meant support for a Protocol developed by Centrifuge that can be used to convert “real assets” into ERC-20 based securities that can be used as security for the imprinting of DAI.

The vote also showed a positive mood towards the DeFi project to support 0x (ZRX), Decentraland (MANA), Dai Liquidity Token from Uniwswap and tBTC.

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