0
📰 News

Maker Price Surges 10 Percent as MakerDAO Sets Date for Multi-Collateral Dai Release

  • 📰 News

    MKR price soars nearly 10 percent so far, as the MakerDAO founder announces the date when multi-collateral Dai is planned for launch

Cover image via news.u.today

Positive news comes from the second day of Devcon 5 that began on October 8 and will last until October 11. The founder of MakerDAO, Rune Christensen, has announced the date of the multi-collateral Dai stablecoin launch.

The Dai dev team have been planning to diversify the collateral which backs the Dai stablecoin since 2015, when the asset was created.

Back in July this year, the Maker team asked MRK owners to vote and choose coins they would like Dai to be backed by and added as collateral. Now, the issue seems to be solved and the new multi-collateral Dai will be released on November 15.

👉MUST READ

If Bitcoin Price Dips Under $8,000, I’m Buying, Says Titan Ventures Co-Founder

If Bitcoin Price Dips Under $8,000, I’m Buying, Says Titan Ventures Co-Founder

Multi-collateral is expected to add more liquidity to Dai and it is believed to make the coin more stable.

Rune Christensen also announced that on the same day, the MakerDAO will kick off the Dai Savings Rate and it will be part of the ‘upgraded’ stablecoin.

Following the news, the price of Maker (MKR) stablecoin has surged by around 10 percent.

MKR price
Image by Coinmarketcap

 

What is your view of the upcoming multi-collateral Dai launch? Feel free to share it with us in the comment section!

Subscribe to the official News.U.Today Telegram channel. Get news first!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

This block is broken or missing. You may be missing content or you might need to enable the original module.
Recommended articles
0
📰 News

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • 📰 News

    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

👉MUST READ

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

Join our Telegram channel to get news even faster!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

This block is broken or missing. You may be missing content or you might need to enable the original module.
Recommended articles