MKR Coin, previously known as
MakerDAO, has undergone a radical rebranding to
Sky. Despite the drastic change,
DAI, a stablecoin, and MKR Coin itself will continue to be available to users. There is now the option for users to upgrade their DAI stablecoins to a new stablecoin called
USDS, launched as part of the rebranding. Along with the introduction of USDS, a new governance token has also been introduced. Increased interest is reported in MKR coin from notable investment firms such as
Grayscale and
BlackRock's BUIDL. Maker has a bold plan to convert 1 MKR token into 24,000 NGT tokens which might impact the coin's market. However, concerns have arisen from
whales offloading MKR and overall struggles in MKR price stability. Despite this, there have been periods where MKR price has risen, showing potential. Investments held in MKR by certain firms have been switched to other emerging blockchain projects. The addition of MKR to Coinbase has eased its trading process. Skepticism exists regarding the use of a
'freeze function' in the rebrand, though the founder assured it will only apply to new stablecoin, not DAI. The developments have led to fluctuations in Crypto price analysis and numerous price predictions.
MKR Coin News Analytics from Sat, 02 Feb 2019 10:54:39 GMT to Tue, 22 Oct 2024 09:11:15 GMT -
Rating 4
- Innovation 3
- Information 6
- Rumor 5
