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.
Are you currently owning MakerDAO and wondering about its performance in the upcoming days?
Do you plan to purchase MakerDAO yet again?
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.
Let us know about MakerDAO and its native currencies in detail.
|Market cap||$ 2,063,821,185.0000|
|Circulating Supply||$ 901,703.5060|
|Trading Volume||$ 141,322,459.0000|
|All time high||$ 3,036.2100 February 20, 2021|
|All time low||$ 168.3600 March 16, 2020|
What is MakerDAO Protocol?
MakerDAO protocol 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. On the contrast, MKR is a governance token whose price increases with the usage of DAI.
MKR Technical Analysis
MKR initiated its journey with the price of $24.36 in January 2017, which swelled dramatically, with the bitcoin bubble of December 2017. The token also registered its all-time high 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.
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.
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.
MKR Price Prediction 2021
MKR started the year with its price trading at $598 on the first day of January. It might reach $1800 at the end of January. With certain fluctuations, the price may plunge to $1340 by the end of November. At the end of 2021 MKR might surge to reach the $1650 mark.
MKR price Prediction 2022 – 25
In 2022, the MKR price might start the year with a price around $1660 and by December 2022, the price is expected to reach $1770. Further in 2023, the price may hit $1860 by the end of October and might climb to $1950 by December 2023.
MKR might initiate the year 2024 with a surge. It might start to trade at $1970 by early January and $1965 at the end of January. The stable coin may hit the $2000 mark by mid of the year.
MKR might commence the year 2025 with the trading price of $2165.The price might remain stable for several months with fewer fluctuations and may hit the $2300 mark by early November and might trade at $2340 by the end of 2025.
MKR Market Prediction
The analysts in the crypto market based on the performance of the asset till now since its inception, tend to forecast their price prediction for the asset for the coming three to five years. Let us understand according to different analysts in the crypto-space, where MKR price would stand in the coming five years.
According to analysts of digitalcoinprice.com, the MKR price would not attain record heights as others but would settle somewhere around $650.37 by December 2025. In between drastic surges and plunges are also expected by the analysts.
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 surpass the $1000 level mark by mid of 2022 and the price could jump to $1822.98 by the end of 2025.
A very similar prediction is put forth by the tradingbeasts.com analysts also, who predict MKR price surrounding $1042.49 by the end of 2023 with a gain of 46.41 percent.
Our MakerDAO Price Prediction
MKR entered into 2021 with its price trading at $598. On a bullish note, it is currently trading at $1537. It might reach $1770 at the end of January. By following certain fluctuations MKR might trade at $1630 by the end of 2021. MKR might be a good investment for the future. It might reach the $3000 mark in the future.
MKR is the governance token for the decentralized platform MakerDAO. DAI is yet another product of the platform in the form of a stablecoin.
Based on the data, it can be predicted that it is Profitable to invest in Maker (MKR) for the long term.
The price of 1 Maker (MKR) might hit $2,558.22 USD nearly 2X from the current Maker price.