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Tag: MKR

  • What do you need to know about Maker (MKR)?

    What do you need to know about Maker (MKR)?

    De-Fi refers to a financial system that is not centralized. Maker is one of the first decentralized finance projects in the crypto space, with the goal of bringing decentralized finance to retailers. This is accomplished through the development of dApps on a smart contract-enabled ecosystem. This is where MKR takes a stand

    DAI is one of the world’s most popular stablecoins. Its value is linked to the US dollar. On coinmarketcap, the DAI is now ranked 35th, with a market dominance of roughly 0.25 percent. The average daily trade volume has climbed by nearly 37.23%. The total number of DAI in circulation is estimated to be around 6.74 billion.

    MakerDAO and Maker Protocol are decentralized organizations as well as software platforms for managing DAI. It enables users to create and administer DAI stablecoins.

    Native Token – MAKER

    MKR is MakerDAO’s and Maker Protocol’s native token. It is used for voting and governance. Holders can vote on a variety of protocol changes. The following are some of the topics on which people can vote:

    • DAI Savings Rate: Users can save money on their DAI and gain prizes. They have the ability to alter the savings rate.
    • Oracles
    • Platform upgrade
    • Changes to risk parameters
    • New collateral asset types
    • The amount of DAI in circulation is controlled by the burning and issuance of MKR tokens that represent DAI.

    Price Movement

    At the time of writing, MKR is being traded at the price of $2,254 with a decrease of almost 7% in the last 24 hours. MKR is a really strong token fundamentally. The maximum and minimum today are $2,238 and $2,249 respectively. The daily trading volume has increased by almost 10%. MKR had created its ATH in March 2021 and reached a price of almost $6348. Even after the reversal, the coin still hasn’t been able to recover from the damage and is trading at the price it had around July.

    MKR has a circulating supply of almost 987K coins and a maximum supply of almost 1M. It is listed on coinmarketcap at rank 60th. It can be exchanged on Binance, FTX, Huobi Global.

    Price Prediction – Maker (MKR)

    According to wallet investor thinks that MKR is a good investment. According to them, in one year, MKR would be worth around $4,590. In a five-year time span, the price is expected to reach a value of $13,432.

  • Maker (MKR) coin price prediction: Towards ,400?

    Maker (MKR) coin price prediction: Towards $4,400?

    Maker (MKR) appears to be on the way of reversing its downtrend. The cryptocurrency is showing signs of increased bullish momentum. At the time of writing, MKR crypto stands at a price level of $2,719. The price has moved upward 16% in the past twenty-four hours while the daily trading volume has increased by 40%. Maker coin is bullish despite a largely bearish and indecisive trend in the market.

    Maker (MKR) Technical Analysis

    The market sentiment for Maker coin is bullish. Out of the total twenty-six technical indicators, ten are giving out a signal of buy while ten stand at a neutral position with only six indications of sell. Both the oscillators and moving averages are bullish.

    Maker (MKR) technical analysis
    Maker (MKR) technical analysis

    Amidst the market bearishness, Maker coin had broken out of an ascending channel formation to the downside. However, the recent bullish momentum has helped the cryptocurrency reach back inside the channel. MKR coin appears to be operating on a coherent wave count. If the bullish divergence in the market for Maker continues, the price could reach much higher. In a bullish scenario, Maker can be expected to reach towards $4,400. However, if the bulls are not able to hold, then Maker crypto will find strong support at the price level of $1,636.

    What is Maker (MKR)?

    Maker (MKR) is the governance token of the MakerDAO. The decentralized organization is based on Ethereum’s blockchain and issues the DAI stablecoin which has its value soft-pegged to the US Dollar. MKR holders are given voting rights in the development of the protocol. Maker also helps to keep the value of DAI relatively stable. MakerDAO is considered as one of the earliest projects in decentralized finance where Ethereum can be used as collateral.

  • Maker (MKR) coin predicted to reach 19k

    Maker (MKR) coin predicted to reach 19k

    Maker (MKR) established its all-time high at $6,012 during the beginning of May but before it could retest the ATH resistance, the market crash occurred. At the time of writing, Maker coin stands at a price level of $3,869. The price has moved up since the low of the bear market and is showing upside movement in the daily timeframe. Although, the daily trading volume has fallen by nearly 50%.

    Maker crypto’s market sentiment is bullish – which is not an easy feat to achieve amidst the bear market. Out of the twenty-six technical indicators, ten are giving out a signal of buy, nine are standing at a neutral position while seven are indicating sell. The oscillators are neutral while the moving averages are majorly bullish. The indicators suggest Maker crypto may soon reverse the loss it had experienced in the bear market.

    Maker crypto future

    MakerDAO is a lending platform based on the blockchain of Ethereum. The project is believed to possess great potential. The DeFi platform has observed phenomenal growth in 2021 – making into the limelight. MakerDAO reached a new milestone in 2021 as the organization cross $200 million in annual income. The figure is an estimation based on the current performance but for comparison’s sake, the income averaged at $19 million in January which means a nearly 1000% increase.

    For cryptocurrency, the future projections are more than bullish. Per the estimates of Wallet Investor, Maker crypto is expected to be at a price level of $6227 in a year’s time while the five-year projection estimates Maker at $19,103. Digital Coin Price also predicts high growth in the cryptocurrency’s price. The one-year price prediction places Maker at $5,722 while the five-year prediction is at $18,123. Suffice it to say, the future has great things in store for MakerDAO and MKR.