The governance token of MakerDAO, MKR, topped gains last week, trackers on Mar. 5 show.
MakerDAO leads weekly gains
MKR roared roughly 27% in seven days ending Mar. 5, pushing its market cap to over $942m. At this level, MKR outperforms the broader crypto market, including bitcoin (BTC) and ethereum (ETH).
As an illustration, BTC and ETH are down 4.5% and 3.5%, respectively, in the past week of trading.
As of writing, MKR is changing hands at $963, up about 9 percent in the past 24 hours and stable in the last hour.
There are several factors behind the MKR surge. Among them is news that the protocol might soon allow users to borrow DAI, their algorithmic stablecoin tracking the USD, using MKR.
Source: https://crypto.news/makerdao-adds-27-to-lead-weekly-gains-outperforms-bitcoin-and-ethereum/