Maker (MKR) has shown notable activity recently, trading at $2,830.73 with a 3.72% increase in the past 24 hours. This uptick reflects a positive short-term trend, suggesting continued investor interest and market engagement.
With a market capitalization of approximately $2.63 billion, MKR is positioned as the 32nd largest cryptocurrency by market cap. This substantial valuation highlights its significant presence within the crypto space, demonstrating considerable investor confidence and market recognition.
The 24-hour trading volume for MKR stands at $114.77 million, reflecting a 72.10% increase from the previous day. This substantial rise in volume indicates a high level of trading activity, with a volume-to-market cap ratio of 4.35%.
This ratio suggests that a notable portion of MKR’s market cap is actively traded, which can be a positive indicator of liquidity and market engagement.
Maker’s total value locked (TVL) is approximately $5.69 billion. TVL is a crucial metric in the DeFi (Decentralized Finance) sector, representing the amount of assets locked within its protocols.
The market cap-to-TVL ratio for MKR is 0.464, which is relatively low. This indicates that the value locked in the Maker ecosystem represents a significant portion of its market cap, suggesting strong utilization of assets within its platform.
The circulating supply of MKR is 930,216, out of a total supply of 977,631 MKR. This means that 92.51% of the total supply is currently in circulation. The maximum supply of MKR is capped at 1,005,577, which provides a degree of scarcity and potential for value appreciation as the total supply approaches its cap.
The fully diluted market cap, representing the total market value if all MKR coins were to be in circulation, is approximately $2.85 billion. This is close to the current market cap, indicating that the circulating supply is nearing the maximum supply limit.
Overall, Maker (MKR) presents a strong profile within the cryptocurrency market. Its high market cap and significant TVL demonstrate its established position and the substantial value locked in its DeFi protocols.
The recent increase in trading volume further underscores active market engagement. However, the relatively low market cap-to-TVL ratio indicates that a large portion of the coin’s value is tied up in its ecosystem, reflecting both its integral role in the DeFi space and its potential for future growth.
Investors should keep an eye on Maker’s ongoing market performance and the broader DeFi trends to make informed decisions. MKR’s current metrics suggest a well-established and potentially evolving asset, with significant value within its ecosystem and a solid market presence.
As always, careful consideration of market conditions and trends is crucial for navigating investments in the cryptocurrency sector.
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