Have you ever heard of DeFi or Decentralized Finance? It’s taking over the financial industry by storm and revolutionising how market players expect the economy to be in the future. Among the many players emerging in the DeFi scene is MakerDAO, whose native token at work is MKR. MKR made its crypto market debut in 2018 at $24.30 and has since spiked to as high as $6,000–equivalent to nearly 250x growth! All the experts are giving an even more bullish MKR price prediction for 2030, with the coin’s price expected to double, triple, 5x, and even 10x.
After hours of scouring the internet for the most reliable price analyses, here are some of the most notable Maker price predictions that we’ve seen so far:
Maker Price Prediction 2022 | 2025 | 2030
Altcoin Disrupt thinks it’s possible that Maker could reach a maximum value of $5,000 this year. He attributes this bullish MKR price forecast to the significantly low maximum supply of tokens. He also added that he looks forward to MKR hitting $7,000 in the near future and possibly even $10,000 if BTC hits above $70,000.
Art of Marketing Blog
Art of Marketing Blog over on Youtube provides a comprehensive review of all the relevant Maker price predictions found online. These are some of the most notable ones that investors should take into account:
Wallet Investor: The website thinks Maker’s price could hit $5,384 by the end of 2022. For the next bull run, Wallet Investor also expects the average trading price of Maker to hit a whopping $16,905.00.
DigitalCoinPrice: Meanwhile, the analysts over at DigitalCoinPrice think that the average price of Maker could reach $4,242 by 2022, $7,558 by 2025, and $11,752 by 2028.
Trading Education: The website has a very bullish MKR price forecast of $19,870 by the end of 2030.
That being said, price predictions are not always accurate. Most of the time, other fundamental factors affect the price of a coin. In the case of MKR’s price fluctuations, here are some of the latest updates about the Maker ecosystem that affected the token’s price.
Leveraging Real-World Assets to Scale
MakerDAO’s Hexonaut recently proposed to use real-world assets (RWAs) to scale the protocol. He said he wants the protocol to take the next step given the passing time so that the protocol can begin integrating with the real world at a larger scale. The proposal includes a potential expansion to uncorrelated, quality loans that could diversify the portfolio with productive assets. Hexonaut’s proposal also included a two-step game plan that involved 1) capital raising and 2) taking risk-on exposure.
Community Proposal to Replace MKR
There is a major tokenomics shift looming and ongoing for the MakerDAO protocol. A proposal was made by one of the community leaders outlining an alternative tokenomics mechanism. Should the proposal pass the full governance vote, it could eventually take the place of the current governance token MKR with a new one dubbed as the stkMKR.
Shift to Full Decentralisation Causes Price Spike
The price of MKR rallied to significant highs when news of the MakerDAO protocol went fully decentralised. Recall that MKR so far is one of the few stablecoin projects that stay in line with the ethos of decentralisation that the community was previously founded on. With the MakerDAO ecosystem becoming fully community-governed, the protocol effectively provides one of the most active governance experiences in the crypto scene.
How Does the Maker MKR Token Function?
MKR is one of the two native tokens of the MakerDAO protocol. MKR tokens are crypto assets that allow users of the MakerDAO protocol to vote on proposals that affect how DAI can be used. The MKR coin acts as a stabiliser of the price of DAI tokens. It, therefore, counters any fluctuations in its price. For example, if the price of a new DAI hits significant lows, the MKR token is created to offset this and vice versa.
DAI, in turn, is the second native token of the Maker Protocol. DAI is the service provided by the protocol, created whenever a user locks another cryptocurrency. There are a total of eight cryptocurrencies that the MakerDAO accepts. These include crypto market heavyweights such as ETH, MANA, and BAT–all of which can be used to generate DAI.
What Is Maker Coin’s Value Tied To?
Many believe that Maker’s average trading value stems from its utility as a DeFi governance token. On top of this, its value is also grounded on the power to vote on how token DAI is managed.
Maker Price Today
MKR’s current price at the time of writing is $2,064.29. Its current market capitalisation is $2 billion and has a circulating supply of 977,631 MKR coins. Its maximum supply is 1,005,577 MKR tokens.
Maker Token Historical Price
The MKR token debuted at $24.3 ICO. It stagnated within a range of $24.30 to around $1,500 in 2018 until the end of 2020. In 2021, however, its price action started to become more volatile. It opened the year at $582.22 and hit a high of $6,012 during the year’s crypto bull-run! Afterwards, it slowly started to pull back and retrace its steps–correcting to around $2,000-$3,000 for the remainder of the year.
MKR Technical Analysis | Good To Position?
According to ambcrypto.com, the price of Maker was recently able to hold on to its support level at $1,629. And it effectively led to the coin bouncing from the oversold territory on the hourly and breaching the $2k level. It looks like the bulls were able to flip this area into a support, which means there is increased chances of an upside in the very near term.
Where and how can I buy Maker?
The MKR token is available on centralised exchanges such as Binance, OKEx, Uniswap, and Coinbase Pro. You can also buy or sell Maker on eToro, which seems the easiest way to do it so far. eToro’s mobile app and convenient browser allow ease of access. You can check your investments on the go wherever you are.
Maker Price Prediction | The Verdict
So far, most of the Maker price predictions online are very bullish. Many analysts and experts believe that the price of MKR will double, triple, and even spike 10x in the future. The Maker ecosystem is one of the biggest players in decentralised finance, paving the way for growth once the crypto world gains even more traction. Remember, however, that historical performance is not indicative of future prices. Therefore, even though Maker’s historical trends performed well, it may not be the same case in the future.
This article should not be considered investment advice. The cryptocurrency market is very volatile and highly risky, which means that the MKR Price Predictions enumerated in this article may or may not hold up in the near future. Remember to only invest what you are prepared to lose since there is always a chance that you could lose your entire capital. Also, the prices stated in this article may be different by the time you’re reading it, since cryptocurrency trading runs 24/7.