Maker (MKR) Analysis
Market Cap
$2,654,513,250 USD
Volume (24h)
$101,115,842 USD
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Maker investment analysis
Because of the extremely volatile nature of crypto assets, the need to hunt from a cryptocurrency or measures towards stabilizing price fluctuations within the crypto sphere is a top priority to MakerDAO.
Maker investment began in January 2017 and has since then received an ample support from its community. A cryptocurrency that is pegged to the dollar will always be a plus for the crypto ecosystem regardless of whether it is a utility token or not. The fact that a stabilizing coin can in effect help bring about a more functional use of crypto in everyday usage, and therefore facilitate mainstream adoption is worth applauding.
But on this particular platform, two coins are involved in this stabilizing cycle – the DAI and the MKR. While DAI is responsible for the stability of the crypto aspect of the project, MKR is more of the governance token which regulates the functions, volatility, and availability of the DAI tokens.
How to buy?The tool analyzes each currency for the 6-month historical price data, searches for possible patterns and showing possible profit rate in the coming months.
The tool analyzes each currency for the 6-month historical price data, searches for possible patterns and showing the possible price in the coming months.
How to buy Maker?
You can buy DAI stable coin from about 16 trade markets. It isn’t as popular as other Ethereum ERC-20 based tokens, and that can be quite difficult to buy, especially for those with jurisdiction problems. However, the technology should begin to pick up traffic as it has shown some impressive steady price moderation since it was listed in December 2017; in line with the objectives of the platform.
On the other hand, MKR token has about 13 markets where it is being traded with majorly ETH, BTC, USDT, and DAI, and these trading mostly takes place on decentralized exchanges at the moment.
In order to store the tokens, you will need an Ethereum ERC-20 compatible wallet that accepts the asset or you could use one of the hardware wallets available, such as the Ledger Nano and the Trezor. But the classic way to store most of these coin types is to use MEW or metamask.
This one comes with quite a unique spin with a goal of stabilizing the price volatility of cryptocurrencies. The future of MKR looks attractive, and I am watching. There is always a consistent change in the value of money, even in the crypto-space, its value changes even more frequently. However, Maker (MKR) aims at solving the volatility challenge of cryptocurrencies, with a ground that the reasons why cryptocurrencies aren’t stable are their fixed supply and their predictability, making them fabulous to venture. Well, the end of my rant with this, is that, a project mustn’t be all complex and somewhat of a rocket-science for it to command a usefulness that would make it go viral or get easily adapted, rather all that is needed is something that provides an obvious solution to a prevailing technological problem in whatever the industry it seeks to exploit. Considering the age of this coin, I think the only good this coin has done is to still be around in the market. Besides that, it hasn’t fared so well. Also, with such price, I think the team needs to do more than they have been doing if the price will go up, if not the price will remain right below that 1 dollar mark. Also, in view of deciding whether to invest or not to, there are quite a number of reasons to consider, even besides the rate of the tokens rise in value. Some of these factors include the relevance or the redundancy of the innovation, considering the introduction of similar ideas. Finally, a factor I consider the most important, the effort of the team, which I think they aren't doing so well, judging by the coin price.