Maker Price Prediction – Security Vulnerability is the Thing to Worry About

  • MKR token has a market cap of 553,379,441 USD and currently being traded at 553 USD.
  • The recent reports of Security issues with DAI may push the coin down.
  • The long term outlook is bullish with substantial investors joining.

Maker (MKR) is a digital platform based on Ethereum blockchain with a focus on plugging scalability and volatility constraints. The vision of this crypto coin is to make the value of DAI bond free of instability in assistance with smart contracts. The smart contracts are called Collateralized Debt Positions (CDPs) which are decentralized and anonymous.

Maker Coin Price Analysis

maker (mkr) price analysis 07 may 19

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Current Statistics-

  • The ROI (Return on Investment) stands at 2402.96%.
  • A total of 1,000,000 MKR coins are in current circulation.
  • The current market cap as on 07th May at 01:44 UTC stands at 553,379,441 USD.
  • The value of each token stands at 553.38 USD and 0.09518552 BTC.
  • The 24h volume stands at 2,535,868 USD.

Comparison-

Maker coin has performed an inverted U in the price trend until current times since the starting of the year 2019. The coin started the year at 448 USD and reached its zenith at 791 USD on April 3rd. Now it is undergoing a price correction phase. The value of each token is now roaming around 530 USD to 550 USD. The market cap as on 07th April was 773,036,121 USD, and the value of each token was 773.04 USD and 0.15282055 BTC. The current market cap and the value of each token are 28.41% less than the values of 7th April. The last 24 hours value of Maker coin has shown consistency with a range of 521 USD to 533 USD.

Prediction-

Recently security firm Zepplin has found a security vulnerability in the Maker DAO system’s production. Though the head of Community Development at Maker Foundation has already clarified that there is nothing to worry, investors have started to lose confidence in this coin. The maker community has been advised to move their MKR tokens to their wallets. We predict the current value of MKR coin to down further to 545 USD level. After this, the coin will rise to newer heights with resistance levels at 600 USD and 670 USD. The long term outlook is bullish. By the end of 2019, the coin should reach 800 USD to 900 USD level. The market cap will also inflate that wise.

Conclusion-

As the coin’s value is to deflate further, we advise not to buy tokens again. Investors need to wait for the right time to invest, and they should hold the investment at least until the 1st quarter of 2020.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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