- Maker value rose greater than 7% to guide altcoin gainers alongside Kaspa and Injective.
- Good points for MKR got here as new upside momentum emerged amid a large $1.35 million Endgame audit contest.
- MakerDAO stated in a latest publish that blockchain safety platform Sherlock will the host the bug hunt contest from July 8 to August 5, 2024.
Maker (MKR) value is up on the day because the cryptocurrency alongside Kaspa (KAS) and Injective (INJ) publish high beneficial properties among the many main 100 cryptocurrencies by market cap.
CoinMarketCap knowledge reveals the MakerDAO governance token’s value has elevated 7% up to now 24 hours.
On Wednesday, MKR traded to lows of $2,335. Nevertheless, a big uptick in shopping for strain has seen it surge previous the resistance at $2,400 to achieve intraday highs of $2,561 on Thursday morning.
As of writing, Maker has a 24-hour buying and selling quantity of over $116 million, with this rising 47% on this interval. In the meantime, the market cap has elevated 7% to over $2.3 billion.
Why is MKR value surging at this time?
Whereas a lot of the altcoin market continues to battle draw back strain, Maker seems to have benefited from a brand new dose of optimism after a significant announcement by MakerDAO on Tuesday.
That needed to do with the official launch of the Endgame audit contest, a bug-finding contest that can see contributors earn from a large $1.35 million rewards pot. Within the announcement, MakerDAO stated the competition will likely be on blockchain safety platform Sherlock.
“DeFi builders are invited to take part within the largest bug-finding contest within the house, with a complete of 1,350,000 DAI in rewards,” the Maker group stated in a publish on X.
Sherlock calls this “the largest audit contest ever”.
In keeping with MakerDAO, the competition targets a neighborhood collaboration in direction of enhancing the blockchain platform’s safety for Endgame merchandise forward of Maker’s Launch Season. The bug-hunt will run from July 8 to August 5, 2024.
MKR reached its all-time excessive value of $6,292 in Might 2021.