- Maker value rose greater than 7% to steer altcoin gainers alongside Kaspa and Injective.
- Positive factors for MKR got here as new upside momentum emerged amid an enormous $1.35 million Endgame audit contest.
- MakerDAO mentioned in a latest put up 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) put up prime features among the many main 100 cryptocurrencies by market cap.
CoinMarketCap knowledge reveals the MakerDAO governance token’s value has elevated 7% previously 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 immediately?
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 individuals earn from an enormous $1.35 million rewards pot. Within the announcement, MakerDAO mentioned the competition will probably 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 staff mentioned in a put up on X.
Sherlock calls this “the most important audit contest ever”.
Based on MakerDAO, the competition targets a group 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.
