Framework Ventures' Vance Spencer: 'MKR Is One of the Most Undervalued Tokens'

IconCryptoNewsTerminal Staff15 Jul, 2024

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Framework Ventures' Vance Spencer: 'MKR Is One of the Most Undervalued Tokens'

Framework Ventures co-founder Vance Spencer recently said on his X (formerly Twitter) that "MKR is one of the most undervalued tokens in crypto, but it won't be for much longer." Spencer explained that "MakerDAO captures ~40% of all DeFi revenue on Ethereum and is now the 3rd largest crypto application behind ETH and SOL. We're also seeing large institutions like Blackrock start to add MKR to their portfolio. And VC-backed founder Rune Christensen just bought back a bunch of MKR in the VC dump." MKR is the governance token of the MakerDAO platform, which allows users to create and manage decentralized stablecoins. The token has been on a tear lately, rising by over 50% in the past month. Spencer's comments suggest that MKR still has a lot of room to grow. If MakerDAO continues to capture market share in the DeFi space, MKR could become one of the most valuable tokens in the crypto ecosystem.

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