Token

Momentum

Gains

<ul class="wp-block-list">
 <li>Grayscale, a leading digital asset manager, announced the launch of the MakerDAO investment fund on August 13, 2024.&nbsp;</li>
 <li>MakerDAO was founded in 2014 with an aim to create a decentralized stablecoin. Now, the DAO has DAI and MKR as significant tokens.&nbsp;</li>
 <li>There are 101,159 addresses that MKR tokens, leading to 100 addresses collectively holding 75.59% of the circulating supply.</li>
</ul>
MakerDAO debuted in the cryptocurrency market in 2014. Rune Christensen founded it with the aim of developing a decentralized stablecoin pegged with the United States dollar.&nbsp;
Since its development, it has marked several milestones, including the launch of a whitepaper in 20215 and an ICO launch in 2017 that raised $12 Million in funding.&nbsp;
The decentralized autonomous organization launched 1st version of DAI stablecoin in 2018 and is constantly upgrading its DAI to multiple- collateral versions.
As per recent information, Grayscale is a digital assets management fund for the governance token of MakerDAO.&nbsp;&nbsp;
“The trust offers investors the opportunity to to gain exposure to MKR, the utility and governance token of MakerDAO,” according to the press releases dated August 13, 2024.&nbsp;
Market watchers primarily claim that the launch will lead to a surge in the trading price of the MKR token and the adoption of the<a href="https://news.todayq.com/nexera-blockchain-hack-1-8m-stolen-nxra-token-price-plummets/" target="_blank" rel="noopener noreferrer nofollow"> MakerDAO </a>ecosystem.&nbsp;
Following the launch of the investment fund, Rayhaneh Sharif-Askary, the head of product &amp; research at Grayscale, notes that “ As demand for crypto exposure continues to grow,&nbsp; Grayscale is committed to expanding our suite of products and providing innovative investment opportunities.”&nbsp;
“The launch of Grayscale MakerDAO investment trust will allow investors to experience the growth of the entire MakerDAO ecosystem, aiming to remove DeFi’s dependency on traditional finance infrastructure by providinfg a permissionless, decentralized and open stablecoin system,” Rayhaneh concluded noting.&nbsp; More Glimpse About MakerDAO 
According to on-chain information, there are 101,159 addresses that MKR tokens, leading to 100 addresses collectively holding 75.59% of the circulating supply. UniSwap, Aave, Binance, and Kraken are among the holders with significant amounts.&nbsp;&nbsp;
MKR token price grew over 7% in the past 24 hours, reaching $2,143; speculation is that the token might soon surpass the resistance of $2,200.&nbsp; Since the past 52 weeks, the Maker token price enjoyed more significant highs, achieving the highest trading price of $4,064.&nbsp;
Despite intraday growth and yearly growth in trading price, the MKR token is trading below the 20,50,100, and 200-day EMA (exponential moving average) as of writing.
In July 2024, MakerDAO announced it would invest $1 billion of its reserves in tokenized U.S. Treasury products. The investment is announced in a joint collaboration with BUIDL, Superstate, and Ondo Finance.&nbsp; Crypto Market Price Alert 
Market price actions failed to impress <a href="https://news.todayq.com/court-approves-12-7b-payout-to-ftx-creditors-in-bankruptcy-case/" target="_blank" rel="noopener noreferrer nofollow">crypto </a>investors and enthusiasts in August 2024;&nbsp; similarly, the market capitalization registered a decline of -4.36% in the past 30 days. When writing the borders, market capitalization is $2.14 Trillion, with a growth of 2.21% intraday.&nbsp;
Source: TradingView
Bitcoin prices constantly fail to sustain above the mark of $60k; in a quarter, its price blended -8.16%. Despite the volatility, Bitcoin is luring more and more adopters, and U.S. election campaigns are pumping enthusiasm.&nbsp;&nbsp;

Grayscale Expands with MakerDAO Fund, MKR Token Gains Momentum

Todayq News

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