Maker (MKR) Price Analysis : Is It Worthy To Invest In MKR?
Maker or MKR is a stablecoin cryptocurrency that is used to vote and influence the DAI network. DAI is also a stablecoin pegged to the USD. MKR is aimed for creating a highly decentralized, asset pegged and community governed digital currency. A token like MKR can withstand the intense volatility of the crypto market and can thus, retain its legitimate unit of value in various circumstances.
Current status of MKR
MKR is currently getting traded at USD 704.24 (UTC time 07:05). Based on its market cap, it is the 16th largest cryptocurrency with a circulating supply of 1,000,000 MKR. Its current price is on a bull trend by 0.20%. It has a current market cap of USD 704,235,854.
Price analysis of Maker
At present, MKR is getting traded at 702.82 USD or 0.17413028 BTC (UTC time 07:10). Its present market cap is worth of 702,816,476 USD with 24h volume worth of 1,793,168 USD. One month earlier, the value of MKR was 648.49 USD. So, in this one month, the value of MKR has been on a bull trend by 8.37% and 674.61 USD has provided a good support resistance in this price hike.
Future price predictions of MKR
As every crypto investor is keen to invest in cryptos that have stability in their value, MKR offers a great option in this regard. MKR can thus, really do well in this year. Moreover, MKR has a strong blockchain foundation, and if this is coupled with a stable crypto market, then MKR has great potentials to be on the bull trend in the upcoming days. If all the above conditions become a reality, MKR can trade around $650 by the end of this year, and if the market remains extremely volatile, then, its value can be as low as $200 this year. The experts think that by 2020, MKR can be as high as $1000 as the crypto market will improve to a great extent. In 5 years, it can reach a maximum height of $3000.
Conclusion
MKR is although a stablecoin, it too gets impacted with the volatility of the crypto sphere. Depending on the future analysis, MKR is a good option for current investment, and it can be perfect for long term investment if the crypto market improves in the upcoming future.
