Grayscale has launched an investment fund for
MakerDAO's MKR Token. Analysis shows that the
MKR price might increase, despite the recent post-rebrand dip. Furthermore, a
key technical indicator has flashed buy signals for several altcoins, including MKR. Capable of hitting
$5K in coming years, MKR's price is on the verge of a breakout. The coin is currently set on a path for a 20% rally, despite market headwinds.
Recently, MakerDAO underwent a rebranding to become
Sky, they also announced plans for the conversion of 1 MKR token into 24,000 NGT tokens and launched a new optional upgradeable
stablecoin, USDS. Yet there's a debate within the community considering a reversal back to Maker, due to criticism of the new stablecoin.
Investment firm
BlackRock's BUIDL, amongst others, has shown interest in MakerDAO's ongoing
Tokenized Treasury Investment Plan. The plan might have influential implications for MKR's price and the overall usability of the coin.
A highlight has been noted in the sudden surge of
whale accumulation, hinting towards a possible MKR price increase, with speculation circling around the possibility of it hitting $2000 soon. However, MKR price has been struggling recently, and some whales are cashing out their crypto investments.
Established crypto exchange
Coinbase Pro has now listed Ethereum tokens including MKR, providing impetus for potential price rise and increased adoption.
MKR Coin News Analytics from Sun, 29 Jan 2017 19:38:31 GMT to Tue, 04 Feb 2025 14:04:55 GMT -
Rating 8
- Innovation 7
- Information 9
- Rumor -1
