Convert and Swap Maker MKR to United States Dollar USD
MKR/USD: 1 Maker equals $1,593.09 USD
Last update: 5:37 PM, December 22, 2024
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Maker is falling this week.
The current price of Maker is $1,593.09 per MKR. With a circulating supply of 891,071.077 MKR, it means that Maker has a total market cap of $1,417,115,162.89. The amount of Maker traded has fallen by $15,382,828.57 in the last 24 hours, which is a 16.22% decrease. Additionally, in the last day, $94,814,183.12 worth of MKR has been traded.
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About Maker
Maker is an Ethereum token that describes itself as “a utility token, governance token, and recapitalization resource of the Maker system.” The purpose of the Maker system is to generate another Ethereum token, called Dai, that seeks to trade on exchanges at a value of exactly US$1.00.
Maker (MKR) is a governance token associated with the MakerDAO and Maker Protocol, both of which are built on the Ethereum blockchain. The primary function of Maker is to manage DAI, a decentralized cryptocurrency that is pegged to the US dollar. The Maker ecosystem, which was conceived in 2015 and fully launched in 2017, is one of the earliest projects in the decentralized finance (DeFi) space. MKR tokens do not pay dividends to their holders, but they do grant voting rights over the development of the Maker Protocol. The value of MKR tokens is expected to appreciate in line with the success of DAI.
Maker works by allowing its holders to participate in the governance of DAI. Holders of MKR tokens can vote on various changes to the Maker Protocol, with their voting power proportional to the size of their MKR stake. They can vote on adding new collateral asset types to the protocol, amending the risk parameters of existing collateral asset types, changing the DAI Savings Rate, choosing the oracles, and upgrading the platform. The issuance and removal of MKR from the system is governed by a complex system of interdependent mechanisms designed to ensure that DAI is always fully collateralized by other cryptocurrency assets and its soft peg to the USD is maintained.
The primary use case for Maker is to participate in the governance of DAI, one of the most popular stablecoins. By holding MKR tokens, individuals can vote on various aspects of the Maker Protocol, influencing the future development of the platform. This ability to participate in the management of one of the largest stablecoins on the market is what drives the demand for MKR tokens. Additionally, DAI, the stablecoin managed by the Maker Protocol, can be used as a store of value, a medium of exchange, a unit of account, and a standard of deferred payment, making it a versatile tool in the cryptocurrency space.
MakerDAO, the first entity within the larger Maker ecosystem, was created in 2015 by Rune Christensen, an entrepreneur from Denmark. Christensen, who holds a degree in biochemistry from Copenhagen University and studied international business at the Copenhagen Business School, co-founded and managed the Try China international recruiting company prior to creating MakerDAO. The Maker Protocol was fully launched in December 2017, and since then, it has become a key player in the decentralized finance (DeFi) space. As of October 2020, the circulating supply of Maker tokens is about 1 million, worth more than $500 million.
How Maker and United States Dollar differ
Maker (MKR) and the US Dollar (USD) are both mediums of exchange, but they operate in fundamentally different ways. Maker is a governance token associated with the MakerDAO and Maker Protocol, both of which are built on the Ethereum blockchain. It allows its holders to participate in the governance of DAI, a decentralized cryptocurrency pegged to the USD. The value of MKR tokens is expected to appreciate in line with the success of DAI. On the other hand, the USD is a centralized currency issued by the Federal Reserve. It's value is determined by various factors such as inflation, interest rates, and the economic health of the US. Unlike MKR, the USD does not grant its holders any voting rights or governance capabilities. Furthermore, while the USD is widely accepted for goods and services, MKR's primary use case is to participate in the governance of DAI, influencing the future development of the Maker Protocol. This ability to participate in the management of one of the largest stablecoins on the market is what drives the demand for MKR tokens.
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MKR to United States Dollar conversion tables
The exchange rate of Maker is decreasing.
The current value of 1 MKR is $1,593.09 USD. In other words, to buy 5 Maker, it would cost you $7,965.45 USD. Inversely, $1.00 USD would allow you to trade for 0.000628 MKR while $50.00 USD would convert to 0.031386 MKR, not including platform or gas fees.
In the last 7 days, the exchange rate has fallen by 18.79%. Meanwhile, in the last 24 hours, the rate has changed by 2.8%, and that the the highest exchange rate of 1 MKR to United States Dollar was $1,648.92 USD and the lowest 24 hour value was 1 MKR for $1,568.86 USD. This time last month, the value of 1 MKR was $1,628.02 USD, which is a 2.62% increase from where it is now. Looking back a year, Maker has changed by $1,345.24 USD.
MKR to USD performance history
Price 24H ago | Change 24H | Price 1W ago | Change 1W | Price 1M ago | Change 1M | Price 1Y ago | Change 1Y |
|---|---|---|---|---|---|---|---|
$1,633.92 USD | -2.80% | $1,966.24 USD | -18.79% | $1,628.02 USD | -2.62% | $1,345.24 USD | 20.53% |
MKR to USD
Amount | Today at 5:37 pm |
|---|---|
0.5 MKR | $796.54 |
1 MKR | $1,593.09 |
5 MKR | $7,965.45 |
10 MKR | $15,930.90 |
50 MKR | $79,654.50 |
100 MKR | $159,309.00 |
500 MKR | $796,545.00 |
1,000 MKR | $1,593,090.00 |
USD to MKR
Amount | Today at 5:37 pm |
|---|---|
0.5 USD | 0.000314 MKR |
1 USD | 0.000628 MKR |
5 USD | 0.0031 MKR |
10 USD | 0.0063 MKR |
50 USD | 0.0314 MKR |
100 USD | 0.0628 MKR |
500 USD | 0.31 MKR |
1,000 USD | 0.63 MKR |
Today vs. 24 hours ago
Amount | Today at 5:37 pm | 24 hours ago | 24H Change |
|---|---|---|---|
0.5 MKR | $796.54 | $816.60 | -2.46% |
1 MKR | $1,593.09 | $1,633.20 | -2.46% |
5 MKR | $7,965.45 | $8,166.00 | -2.46% |
10 MKR | $15,930.90 | $16,332.01 | -2.46% |
50 MKR | $79,654.50 | $81,660.03 | -2.46% |
100 MKR | $159,309.00 | $163,320.05 | -2.46% |
500 MKR | $796,545.00 | $816,600.26 | -2.46% |
1,000 MKR | $1,593,090.00 | $1,633,200.51 | -2.46% |
Today vs. 1 month ago
Amount | Today at 5:37 pm | 1 months ago | 1M Change |
|---|---|---|---|
0.5 MKR | $796.54 | $816.57 | -2.45% |
1 MKR | $1,593.09 | $1,633.13 | -2.45% |
5 MKR | $7,965.45 | $8,165.65 | -2.45% |
10 MKR | $15,930.90 | $16,331.30 | -2.45% |
50 MKR | $79,654.50 | $81,656.51 | -2.45% |
100 MKR | $159,309.00 | $163,313.03 | -2.45% |
500 MKR | $796,545.00 | $816,565.15 | -2.45% |
1,000 MKR | $1,593,090.00 | $1,633,130.29 | -2.45% |
Today vs. 1 year ago
Amount | Today at 5:37 pm | 1 year ago | 1Y Change |
|---|---|---|---|
0.5 MKR | $796.54 | $674.73 | +18.05% |
1 MKR | $1,593.09 | $1,349.46 | +18.05% |
5 MKR | $7,965.45 | $6,747.31 | +18.05% |
10 MKR | $15,930.90 | $13,494.63 | +18.05% |
50 MKR | $79,654.50 | $67,473.13 | +18.05% |
100 MKR | $159,309.00 | $134,946.27 | +18.05% |
500 MKR | $796,545.00 | $674,731.33 | +18.05% |
1,000 MKR | $1,593,090.00 | $1,349,462.66 | +18.05% |
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