Price Prediction

Maker DAO Price Prediction – Can MKR Price Outperform in 2021?

Decentralized technologies are getting prioritized as they enhance privacy as well as the security of the users. MakerDAO is one of the prominent projects that concentrated on the promotion of decentralized exchanges and stable coins.

Maker showcased a splendid price rally by surging with a huge margin. Also attracting many to influx huge liquidity. Are you one among them or currently owning Maker and wondering about its performance in the upcoming days? 

We got you covered. This article aims to provide the information you have been looking for. It consists of price prediction for 2021 and beyond which clarifies your thoughts.

Overview

CryptocurrencyMaker
TokenMKR
Price$ 5,052.1700
Market cap$ 4,560,184,587.0000
Circulating Supply$ 901,310.9473
Trading Volume $ 494,356,091.0000
All time high$ 6,292.3100     May 3, 2021
All time low$ 168.3600     March 16, 2020

Fundamental Analysis Of Maker

Maker is the governance token of MakerDAO protocol which is the organization behind the technology of providing collateral loans against its own stablecoin DAI. Users can lend funds using their own ETH by locking them in the MakerDAO’s smart contracts.

Therefore, the user just uses their ETH to convert it into DAI to get collateral loans and pay interest. It was MakerDAO which created a core layer of decentralized finance, which became very popular as ‘DeFi’.

The native token of MakerDAO DAI is mainly used as collateral which is in turn backed by the USD and hence, this feature attracts many in the DeFi space. Created by Rune Christensen in 2015, MKR acts as a kind of vote sharing for the organization that manages DAI.

Also Read: Decentraland Price Prediction 2021 : MANA Price Hits $1 , What’s next?

MKR Price Prediction 2021

MKR started the year with its price trading at $598 on the first day of January. Further the price rose like a giant touching highs every new day. Keeping the bullish momentum intact, the price eventually surged above $6000 in May. 

The price is expected to follow the uptrend and surge towards the north. The price may trade in between $6500 to $7354 by the end of 2021.

MKR price Prediction 2022

The MKR price may start the yearly trade around $6500 levels and keep accumulating gains further. If the price ralle accelerates, then $10000 may be an achievable target, yet by the end of 2022, the MKR price may trade at $9876 to $11,000.

Price Prediction For The Next 5 Years

Maker price however, is expected to keep the bullish momentum intact nad rise accordingly. The price may end up trading close to $20,000 in the coming five years. However, a bearish divergence can also not be ignored and if dropped, the price may trend with the levels much lower than the present around $5500.

MKR Market Prediction

Digitalcoinprice.com

According to analysts of digitalcoinprice.com, the MKR price will settle somewhere around $7978.78 by December 2021 and $16,250 by 2025.. In between drastic surges and plunges are also expected by the analysts.

Gov.capital.com

The Gov.capital analysts predict a pretty different price for the asset among all other crypto analysts in the market. According to them, MKR would have a bull ride which could trade in between $5144 to $5916 by the end of 2021.

Walletinvestor

The analyst of Walletinvestor predicts the price may go up to $8495 by the end of 2021 and reach $21376 by the end of 2026.

Tradingbeasts.com

A very similar prediction is put forth by the tradingbeasts.com analysts also, who predict MKR price surrounding $5733 by the end of 2021.

Our MKR price Prediction

MKR price appears to be poised to hit new highs and hence following certain fluctuations MKR might trade at $7630 by the end of 2021. MKR might be a good investment for the future. It might reach the $30000 mark in the future.

Also Read: Compound Price Prediction: Can COMP Reach $2K By 2021?

Historical Market Sentiments

2017

MKR initiated its journey with the price of $24.36 in January 2017, which swelled dramatically, with the bitcoin bubble of December 2017 and reached $917 to close the yearly trade.

2018

The token also registered its yearly highs of $1,773.92 on Jan 18, 2018. Later on the token started to plunge and reached $1278 by the end of January. Following the bearish trend, the price hit $483 by early April. At the end of 2018 MKR was traded at $472.

2019

During the year 2019, MKR started the trade at $464. Surprisingly the price surged to $788 by early April as MKR gained the attention of the investors. With certain fluctuations, the price dropped to $435 by the start of September. Later on the price poured to $652 in the mid November. By the end of 2019, the price reached $441. 

2020

On a bearish note MKR initiated the year 2020 with $418 by early January. As bears held the market, the price surprisingly dropped to $203 by the mid of March. MKR managed to trade at $294 at the end of March. Later on the price surged to $667 in June. On a bullish note the price spiked to $788 by mid August and further declined to $432 by the end of September. The price steadily started to move upwards to reach $566 by the November end as the expansion of Bitcoin’s price rally. At the end of 2020, the price was traded at $566.

The market capitalization of the token suddenly rose from zero to $650 million during the bitcoin boom. And since then the market capitalization is swinging in the same trend. Currently, the market capitalization records above $537 million. 

Also Read: Bitcoin Cash Price Prediction – Will BCH Price Outperform in 2021?

FAQ

What is MKR? Is it the same as MakerDAO or DAI?

MKR is the governance token for the decentralized platform MakerDAO. DAI is yet another product of the platform in the form of a stablecoin.

Is MKR a good investment?

Based on the data, it can be predicted that it is Profitable to invest in Maker (MKR) for the long term.

In 1 year from now what will 1 Maker be worth?

The price of 1 Maker (MKR) might hit $12,558.22 USD nearly 2X from the current Maker price.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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