MakerDAO’s MKR token has witnessed a significant range of fluctuations over the past month, experiencing everything from massive price spikes to year-low dips. Some reasons driving these price freaks include strategic updates like the introduction of an
optional MKR conversion for the latest governance token and the rebranding from
MakerDAO to Sky. Along with this, the organisation made substantial announcements of launching a new stablecoin and a governance token. At one point, MKR's price was suggested to be on the brink of a bullish rally with a potential surge of 40% despite facing market headwinds. Suddenly, the community faced severe discussions around dropping the Sky brand due to negative impacts on crypto market performance. The
heavy accumulation by whales pointed towards a potential upward price movement.
Grayscale's blue-chip intervention, the launch of MakerDAO Trust, further added to the anticipation of MKR's price elevation. Amid the recovery, concerns were raised regarding whales cashing out the MKR tokens and its impact on the ongoing pump. As the crypto community continues to observe MKR's journey, the token faces volatility due to various factors and events in the market.
MKR Coin News Analytics from Sun, 29 Jan 2017 19:38:31 GMT to Tue, 04 Mar 2025 12:27:14 GMT -
Rating 6
- Innovation 2
- Information 6
- Rumor 4
