Decentralized Finance (DeFi) lending and borrowing platform Maker MKR/USD saw a 22% rise in its native token price over the last seven days, bucking the downward trend seen in other major cryptos Bitcoin BTC/USD and Ethereum ETH/USD due to news of Silvergate Capital’s SI failure.
| Cryptocurrency | Gains (+/-) | Price |
|---|---|---|
| Maker | +22% | $935 |
| Synthetix | +17.24% | $3.10 |
| XDC Network | +11.98% | $0.029 |
| ImmutableX | +9% | $1 |
| EOS | +7.39% | $1.20 |
What Happened: MKR is the top gainer in the last seven days, trading at $935, recorded at 12 am EST.
The rally in MKR's price is a response to the updated executive vote poll results from Maker on March 1. The announcement included a new pricing structure set at a 0.5% annual fee schedule, as well as the lifting of the debt ceiling from 5 million DAI to 10 million DAI - signaling a reduction in borrowing restrictions.
See More: Top Indian Apps That Give Bitcoin, NFT Rewards
The second on the list is Synthetix SNX/USD gaining 17.24% in weekly gains after the network on March 1 said it has officially rolled out its Synthetix V3 on the mainnet. This upgrade saw the network transitioning from a debt pool of liquidity approach to a distributed pool model.
XDC Network XDC/USD saw an 11.98% rise after the company launched DAOFIN protocol, a step towards decentralization.
The fourth on the list is ImmutableX IMX/USD and the fifth is EOS token EOS/USD spiked 9% and 7.39%, respectively.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
