MakerDAO Founder Converts 200,000 DAI into MKR Tokens!

The post MakerDAO Founder Converts 200,000 DAI into MKR Tokens! appeared first on Coinpedia Fintech News

MakerDAO founder Rune Christensen has been observed transforming 200,000 DAI tokens into 197.5 MKR tokens. The transactions were monitored by Spot On Chain and were done at an average price of $1,013, approximately 21 and 12 hours ago. The move is seen as a show of confidence in MKR, which is currently trading at $938. MakerDAO is a decentralized lending platform that allows users to borrow DAI stablecoins against the collateral of cryptocurrencies like ETH and BAT. The platform has acquired traction in recent years due to its unique approach to stablecoins and decentralized finance.