Cryptocurrency News – Maker (MKR) rises by 58% in just 1 month

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In the past one month, Bitcoin (BTC) is just up 3%. On the other hand, the cryptocurrency market cap is almost stable. Most of the other cryptocurrencies, as well as Altcoins, are not doing well either. However, there are few cryptocurrencies which are outperforming the market is in these turbulent times as well. One such cryptocurrency is Maker (MKR).

Maker (MKR) rises by 58% in just 1 month:

On the other hand, when you look at Maker (MKR), it is up by approximately 58% in 1 month. A month earlier, it was trading around $ 417. Currently, it is trading around $ 663. Just in one month, it has increased by 58%. Also, it is not lesser-known cryptocurrency. It is ranked at the 22nd position when it comes to cryptocurrency market cap. That is why it has a sizable market cap as well. It is one of the best outperformers in the past one month.

Maker (MKR) is also trying to make smart contracts more accessible to the developers. It is based on the ERC 20 platform. It has been able to largely avoid the volatility which is faced by other ERC 20 coins. That is why the outperformance does not look like a fluke. Most of the other cryptocurrencies of the similar market cap have fallen or are trading with the negative bias due to the turbulent times which are faced by Bitcoin (BTC) as well as other cryptocurrencies.

It remains to be seen whether in the coming future, Maker (MKR) is able to sustain the momentum or not. Currently, the market cap of Maker (MKR) is around $ 482 million. The cryptocurrency which is ranked at the 21st position is Zcash. It has a market cap of $ 573 billion. Thus, Maker (MKR) will have to rise by a good 24 percent in order to move up the cryptocurrency market cap list. If the momentum however continues, it can do so easily within a month.

With the broad-based recovery in the cryptocurrency markets, it will become easier for Maker (MKR) to further sustain the momentum as well. This will ensure that it is able to grab their attention of the investors due to sustained outperformance as well. If it is able to outperform during the turbulent times, it will certainly have an advantage when the cryptocurrencies are rising on a consistent basis. This is one of the main reasons why you should keep a watch on Maker (MKR) to gauge whether it is able to sustain the momentum or whether the momentum falters in the coming few weeks.

About Manish 352 Articles
I am an avid crypto lover and a electronics & telecommunications engineer by qualification. I follow the cryptocurrency & blockchain industry closely to focus on the latest news & developments.

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