Maker (MKR): Dragging at The Moment, Long Term Projections Are Bullish

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Maker (MKR) is a smart contract platform similar to the Ethereum chain and also built on it. Maker’s main focus is on backing and stabilizing the value of stablecoin DAI. The crypto achieves this through a dynamic system of Collateralized Debt Positions (CDP) and along with few other mechanisms including autonomous feedback and by appropriately incentivizing external factors. Not to forget that MKR chips are regulated, i.e., created or destroyed with respect to the price fluctuations of the DAI coin, which helps in keeping its value close to 1 USD as much as possible. These all operations are a part of a fully extendable system on the Ethereum blockchain. In addition to all of these, Maker (MKR) allows its users to vote within a continuous approval voting system.

Maker

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With return on investment of more than 2,338.40%, Maker (MKR) is currently present at 21st position in the crypto chart. Today, on May 01, at UTC 10:44, according to Coinmarketcap, the market capitalization of the crypto was around 538,853,609 USD. Against Bitcoin, it was trading at 0.10017449 BTC per chip with a total of 1,000,000 MKR coins in circulation. If you look at the trading volume of Maker (MKR) in the last 24hrs, it was around 2,313,131 USD. On April 6, 25-days back, Maker coins were priced at 771.06 USD, since then the value of the crypto fell sharply and at present, it is trading at 538.71 USD, with a total dip of 30.13%.

Few data regarding the previous performance of Maker (MKR) in Bollinger Chart:

  • All Time High: 1,773.92 USD (Jan 18, 2018)
  • All Time Low: 21.06 USD (Jan 30, 2017)
  • 7 Day High / Low: 580.14 USD / 484.63 USD
  • 24 Hour High / Low: 556.74 USD / 535.41 USD
  • Yesterday’s High / Low: 558.48 USD / 546.85 USD

Yesterday, Maker (MKR) opened the day at 547.16 USD, nevertheless, its value rose by 2.17 USD (0.40%) in a trading day and end the day at around 549.33 USD, with a total market volume of 2,235,726 USD.

Maker (MKR) Price Prediction:

There are a lot of unique features in Maker (MKR) which will help it in strengthening its market position once again. The plus point for the crypto includes complete user freedom to manage cryptocurrency financial resources, the lack of restrictions on the size of the transactions or region where the participants are located, and an integrated algorithm for dealing with monopolists. While making an exchange in Maker (MKR), there is no additional fees or charges, making the process of financial exchanges cheaper. However, Maker is closely linked with the Ethereum chain and any drag in it will affect Maker as well. Nevertheless, as per crypto experts and analysts, it might touch the $1000 mark by the end of the year.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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