MKR Coin, the token of the
MakerDAO platform has recently experienced a period of volatility with its price going through a series of rallies, corrections and trend reversals, reflecting the sentiment of both whales and everyday traders. The price surge could be attributed to a variety of reasons, one of which being its potential for a move towards $2,500. However, some crypto traders suggest that the DeFi altcoin is primed for a pullback. Shortly after hitting a two-week high,
MKR is faced with critical points of analysis in its key metrics, suggesting that the coin may be on the brink.
The recent decision of MakerDAO to rebrand as
Sky was an attempt to overhaul the token, making MKR unusable and launching subDAOs. It was met with a mix of reactions, causing the MKR price to surge over 10%. That said, amidst the name change, the community is contemplating another rebrand, back to Maker.
Notable developments include Sky rolling out a new stablecoin and governance token, reported accumulation by crypto whales, the launch of a crypto fund by Grayscale for MakerDAO's MKR token and the announcement of Coinbase Pro listing MKR. Additionally, the platform's
token buyback scheme going live has also contributed to MKR's price movements. There is further speculation that
MKR could see explosive gains, possibly reaching $6,500, despite potential market headwinds.
MKR Coin News Analytics from Sun, 29 Jan 2017 19:38:31 GMT to Tue, 03 Jun 2025 18:11:15 GMT -
Rating 5
- Innovation 3
- Information 7
- Rumor -1
