{"id":4557,"date":"2024-08-14T08:00:21","date_gmt":"2024-08-14T08:00:21","guid":{"rendered":"https:\/\/cryptd.in\/mkr-jumps-5-as-grayscale-adds-makerdao-to-its-crypto-fund-lineup\/"},"modified":"2024-08-14T08:00:21","modified_gmt":"2024-08-14T08:00:21","slug":"mkr-jumps-5-as-grayscale-adds-makerdao-to-its-crypto-fund-lineup","status":"publish","type":"post","link":"https:\/\/cryptd.in\/pt\/mkr-jumps-5-as-grayscale-adds-makerdao-to-its-crypto-fund-lineup\/","title":{"rendered":"MKR Jumps 5% As Grayscale Adds MakerDAO To Its Crypto Fund Lineup"},"content":{"rendered":"<p>To further diversify its crypto investment portfolio, asset manager and ETF issuer Grayscale has <a href=\"https:\/\/www.globenewswire.com\/en\/news-release\/2024\/08\/13\/2929241\/0\/en\/Grayscale-Investments-Launches-Grayscale-MakerDAO-Trust.html\" target=\"_blank\" rel=\"noopener\">unveiled <\/a>the launch of the Grayscale MakerDAO Trust. This latest addition to Grayscale\u2019s product suite allows investors to gain exposure to MKR, the utility and governance token underpinning the Ethereum-based MakerDAO ecosystem.<\/p>\n<h2>Grayscale Expands Crypto Portfolio<\/h2>\n<p>MakerDAO is an autonomous organization operating a <a href=\"https:\/\/www.newsbtc.com\/news\/grayscale-introduces-new-crypto-funds-for-tao-sui-triggering-price-responses\/\" target=\"_blank\" rel=\"noopener\">decentralized finance<\/a> (DeFi) protocol, providing users access to a permissionless, open stablecoin system and various other on-chain financial services.\u00a0<\/p>\n<p>According to Tuesday\u2019s announcement by the firm, through the Grayscale MakerDAO Trust, investors can now participate in the growth and development of the protocol\u2019s MKR ecosystem.<\/p>\n<p>\u201cAs demand for crypto exposure continues to grow, Grayscale is committed to expanding our suite of products and providing innovative investment opportunities,\u201d said Rayhaneh Sharif-Askary, Grayscale\u2019s Head of Product &amp; Research. <\/p>\n<p>\u201cThe launch of the Grayscale MakerDAO Trust allows investors to experience the growth of the entire MakerDAO ecosystem, aiming to remove DeFi\u2019s dependency on traditional finance infrastructure by providing a permissionless, decentralized, and open stablecoin system,\u201d Sharif-Askary also stated.<\/p>\n<p>The new trust functions similarly to Grayscale\u2019s other single-asset<a href=\"https:\/\/www.newsbtc.com\/breaking-news-ticker\/ethereum-etfs-debut-blackrock-reigns-with-260m-inflows-grayscale-bleeds\/\" target=\"_blank\" rel=\"noopener\"> investment vehicles<\/a>, with the fund solely invested in MKR tokens. The trust is now open for daily subscription by eligible individual and institutional accredited investors, providing them a convenient way to gain exposure to the MakerDAO protocol.<\/p>\n<p>This announcement comes on the heels of Grayscale\u2019s recent <a href=\"https:\/\/www.newsbtc.com\/news\/grayscale-introduces-new-crypto-funds-for-tao-sui-triggering-price-responses\/\" target=\"_blank\" rel=\"noopener\">launches <\/a>of the Grayscale Bittensor Trust, dedicated to the TAO token supporting the Bittensor Protocol, and the Grayscale Sui Trust, focused on the SUI token underpinning the Sui Layer 1 blockchain.<\/p>\n<h2>MKR Price Action<\/h2>\n<p>Grayscale\u2019s news sparked a spike in the MKR token, which hit an 8-month low of $1.7 on August 5 amid the broader <a href=\"https:\/\/www.newsbtc.com\/bitcoin-news\/crypto-liquidations-1-billion-bitcoin-crashes-52000\/\" target=\"_blank\" rel=\"noopener\">market crash<\/a> and global economic uncertainties that led to an increased sell-off.\u00a0<\/p>\n<p>MKR is trading at $2.10, up nearly 6% in the last few hours, coupled with a 16% increase in trading volume in the 24-hour time frame, amounting to $124 million, indicating investor interest in the token\u2019s prospects.\u00a0<\/p>\n<p>MKR must consolidate above the $2.06 level to further capitalize on this latest surge, as it has acted as a <a href=\"https:\/\/www.newsbtc.com\/news\/bitcoin\/bitcoin-hashrate-nears-record-levels-amidst-price-decline-details\/\" target=\"_blank\" rel=\"noopener\">resistance wall<\/a> for the token over the past few days before Tuesday\u2019s bullish news on the MKR\/USDT daily chart. This would be key for MKR\u2019s future advances and the potential to surpass its next resistance barrier at $2.16.\u00a0<\/p>\n<p>However, if there is a resurgence of demand and buying pressure for the token and the broader market, which can also contribute to MKR\u2019s 10% surge last week, it would position MakerDAO\u2019s native token to tackle its next resistance at $2.31, $2.42 and $2.73 on its way to reclaiming the $3 mark.\u00a0<\/p>\n<p>Featured image from DALL-E, chart from TradingView.com\u00a0<\/p>","protected":false},"excerpt":{"rendered":"<p>To further diversify its crypto investment portfolio, asset manager and ETF issuer Grayscale has unveiled the launch of the Grayscale MakerDAO Trust. This latest addition to Grayscale\u2019s product suite allows investors to gain exposure to MKR, the utility and governance token underpinning the Ethereum-based MakerDAO ecosystem. Grayscale Expands Crypto Portfolio MakerDAO is an autonomous organization [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":4558,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MKR Jumps 5% As Grayscale Adds MakerDAO To Its Crypto Fund Lineup - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/pt\/mkr-jumps-5-as-grayscale-adds-makerdao-to-its-crypto-fund-lineup\/\" \/>\n<meta property=\"og:locale\" content=\"pt_PT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MKR Jumps 5% As Grayscale Adds MakerDAO To Its Crypto Fund Lineup - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"To further diversify its crypto investment portfolio, asset manager and ETF issuer Grayscale has unveiled the launch of the Grayscale MakerDAO Trust. This latest addition to Grayscale\u2019s product suite allows investors to gain exposure to MKR, the utility and governance token underpinning the Ethereum-based MakerDAO ecosystem. 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