Maker (MKR) is based on the Ethereum platform and is aimed at creating a line of decentralized digital assets which can be tied to the value of real instruments, such as gold or currency.
Maker is relatively a lesser known digital currency, yet it is an autonomous decentralized organization with the aim of minimizing the price volatility of its stablecoin DAI, against the USD.
MKR coins aren’t mined but are purchased on the Bibox exchange.
Maker’s Current Status
Maker is currently getting traded at USD 734.58. Depending on its market capitalization, MKR is the 16th largest cryptocurrency with a circulation supply of 1,000,000 MKR. The present market cap has a trading value which is worth $734,581,834. Currently, it’s running on a bullish trend of 1.98%.
Maker’s Price Analysis
According to CoinMarketCap, MKR is being traded at $735.14 or 0.18176535 BTC. Its current market cap has a trading worth of $735,137,637, and 24h volume is worth of $7,239,851.
Approximately one month ago, MKR had a trading value of $695.72. So, in this duration, the value of Maker (MKR) has been on a bull trend by 5.66% with $668.53 as a good support resistance.
Maker’s Future Price Prediction
Maker’s stability is highly doubtful. On top of it, the cryptocurrency market itself is highly volatile. However, the experts think that MKR is subjected to do well in 2019 and that it can be a good choice for short term investment. Analysts think that Maker is anticipated to trade around $720 by the end of 2019 in case the cryptocurrency market condition improves, and the MKR community expands.
The minimum price that Maker may reach this year is anticipated to be nearly $253.24. By the year 2020, the majority of cryptocurrency experts think that volatility will reduce, which can be a great opportunity for MKR to rise as high as $1000.
Since the cryptocurrency market is being highly volatile nowadays, it is better for the investors to wait for the perfect time to invest in this digital currency.