Price Analysis

Maker (MKR) Price Analysis: Will Maker Move The Downtrend of Past 30 Days & Soar Higher?

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Maker is a completely transparent & highly sustainable decentralized blockchain based finance system enabling community-based governance and collaterals loans. With the motto of opening economic transactions to all, the team aims to provide high-quality financial services to everybody. Maker’s DAI is regarded as the ultimate stablecoin in the blockchain system, and the token used in this credit system is MKR. The coin is being created to address the biggest challenge of the cryptocurrencies world which is high volatility & its impact. The Maker platform is hosted on Ethereum chain and uses CDP (Collateral Debt Positions) to stabilize the coin value and makes it resistant to sudden market crashes.

Current Statistics

Maker Price Chart (25.03.2019 - 23.04.2019)The current scenario portrays a good picture. The ROI of Maker (MKR) is recorded at 2,667.41% as on April 23, 2019, at 11:34:02 UTC. The price has reached USD 613.88 & 0.11114259 BTC. The circulating supply is 1,000,000 MKR and is equivalent to the total supply. With a market cap of 613,875,911 USD & 24 h volume of 1,257,377 USD, MKR has secured 20th position in the top 100 cryptocurrencies list by the CoinMarketCap. The marginal difference between the crypto & Ethereum Classic is reducing fast, and it can be expected to further climb up the coin ladder in the days to come.

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Comparison

As on March 25, 2019, at 05:34:01 UTC, the price of the coin was recorded at USD 729.93 & 0.18163926 BTC. The market cap had reached 729,976,672 USD, and 24 h volume was recorded at 1,613,127 USD. The downtrend of over -15% in the past one month is going to discontinue soon. In fact, if we look at the past 30-day pattern, the highest price reached 805.02 the USD, and the lowest was recorded at 597.97 USD. The price has not gone below this in the last 7 days also however the highest was dipped to USD 687.26.

Prediction

A system offering stability in an otherwise highly volatile cryptomarket sounds very promising and reliable.  Maker gives you just that through its stablecoin, DAI. The investors have been talking positively about the technology since the beginning which has led it to climb up the coin ladder fast. The market sentiment is positive, and long term investment is highly recommended on this crypto. From a 2 year perspective, the prices can go up to 1000 USD and can shoot up to 1800 USD in the next 5 years. With the increasing adoption of blockchain based cryptocurrencies by large businesses, government bodies and financial institutes, MKR are speculated to be more viable in the long run. It’s partnerships with Request Network, and Tradeshift makes the belief stronger & established firm market position.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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