- Maker price rose greater than 7% to steer altcoin gainers alongside Kaspa and Injective.
- Positive aspects for MKR got here as new upside momentum emerged amid a large $1.35 million Endgame audit contest.
- MakerDAO mentioned in a latest submit that blockchain safety platform Sherlock will the host the bug hunt contest from July 8 to August 5, 2024.
Maker (MKR) price is up on the day because the cryptocurrency alongside Kaspa (KAS) and Injective (INJ) submit prime good points among the many main 100 cryptocurrencies by market cap.
CoinMarketCap knowledge exhibits the MakerDAO governance token’s price has elevated 7% previously 24 hours.
On Wednesday, MKR traded to lows of $2,335. Nonetheless, a big uptick in shopping for stress has seen it surge previous the resistance at $2,400 to succeed in 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 price surging right now?
Whereas many of the altcoin market continues to battle draw back stress, Maker seems to have benefited from a brand new dose of optimism after a serious 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 a large $1.35 million rewards pot. Within the announcement, MakerDAO mentioned the competition might be on blockchain safety platform Sherlock.
“DeFi builders are invited to participate in the largest bug-finding contest in the space, with a total of 1,350,000 DAI in rewards,” the Maker group mentioned in a submit on X.
Sherlock calls this “the biggest audit contest ever”.
Based on 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 price of $6,292 in Could 2021.