DeFi boom: Bitcoin exchange Binance lists maker (MKR) and Dai (DAI)

Even if decentralized finance is all about decentralization, centralized exchanges don't want to miss out on business. Binance, one of the largest and best-known exchanges worldwide, listed two new cryptocurrencies as a result of the DeFi boom. The Maker (MKR) course reacts with a course increase.

Binance lists Maker and Dai

No topic is currently being discussed as DeFi: decentralized finance. More and more projects have been springing up in the past few weeks, and existing cryptocurrencies are enjoying huge gains. With the increasing popularity of these projects and their tokens, the trading volume also increases. Centralized exchanges like Binance don't want to miss this market and benefit from the trading fees.

That's why the crypto exchange announced a few hours ago that it would list two new digital assets: Maker (MKR) and Dai (DAI).

Just a few weeks ago, one of the biggest competitors on the Coinbase exchange market listed the cryptocurrency maker (MKR). As a result of the listing, the course was able to rise more than 30%. Binance provides the following trading pairs:

  • MKR / BNB, MKR / BTC, MKR / BUSD, MKR / USDT
  • DAI / BNB, DAI / BTC, DAI / BUSD and DAI / USDT

According to the blog post, no fee was paid for the listing. Anyone who was already on the crypto market in 2017 can remember that large exchanges demanded enormous amounts of fees for a listing and had to face severe criticism for this.

Maker (MKR) price rises by 10%

The current situation on the market is helping many cryptocurrencies to achieve high price increases. Listing on a stock exchange is also based on the price of the respective asset. Over the past few years, which has been dominated by bears, this has not been the case. That should be a sign that the crypto market is already ready for growth.

The Maker (MKR) price rose by 10% as a result of the listing, as the following graphic shows:

Source: worldcoinindex.com

As the share price rises, Maker (MKR )’s market cap rises to $ 482 million, making it into the top 30 cryptocurrencies. An MKR token is currently trading for $ 532,72 USD. DAI is 1,03th in the ranking with a value of $ 240 USD per DAI token and a market capitalization of $ 50 million USD.

The market for DeFi is currently unstoppable. Just yesterday we reported that the decentralized finance market reached $ 3 billion, just a few weeks after the $ 2 billion mark was broken.

The hype is unstoppable: the market for decentralized finance (DeFi) reaches $ 3 billion USD

 

Markus from Kryptokumpel.de
Photo credit: pixabay.com | CC0