⇗ MKR Coin Experiences Whirlwind of Change Amid Rebranding, Price Spikes, and Listing on Coinbase
MakerDAO , the organization behind the MKR coin, is reportedly considering a rebrand to Sky, sparking a lofty price prediction for MKR which...
Grayscale has launched an investment fund exclusively dedicated to the MKR token of MakerDao. Concurrently, Binance has announced that it will be supporting the MKR token swap, leading to the redenomination and rebranding to Sky. This has led to a surge of activity, with DFG Founder depositing 1,700 MKR tokens valued at $3.47 Million to Binance, suggesting a potential market impact. The current MKR price predictions hold strong, with optimistic estimates pointing to a possible climb to $2000 between 2025 and 2031. However, Binance has also recently delisted MKR pairs in favour of the SKY token transition.
On the trader front, technical indicators suggest a potential pullback for MKR. However, crypto whales seem keen on purchasing altcoins, MKR included. Since this surge, the MKR price surged by 40%, hinting at a trend reversal. This change in the wind comes after Sky Protocol launched its SKY token, replacing MKR for governance. Major crypto whales seem to be interacting with the market, selling tokens such as ETH, AAVE, and MKR in favor of WBTC.
The platform has also been rebranded as Sky, with its DAI stablecoin now upgradeable to USDS. However, the Sky co-founder has proposed no new emissions for the core token, and MakerDAO is considering dropping the Sky brand, possibly signalling a potential rebranding back to Maker. In addition, the platform is also dealing with an unresolved lag in token performance despite the protocol's substantial revenue. In the midst of all this, Bitcoin traded above $79K in response to Trump tariffs.
With the easing of US crypto regulations, MKR increased by a further 23%. Despite the unstable market conditions, analysts suggest that MKR, along with several other tokens, is flashing bullish signals. Other entities, including BlackRock's BUIDL, Ondo, and Superstate, seem interested in the tokenized treasury investment plan of $1B proposed by MakerDao. In total, the future seems promising yet uncertain for MKR, with high predicted highs and the possibility for new developments in the brand.
MKR Coin News Analytics from Sun, 29 Jan 2017 19:38:31 GMT to Sun, 20 Jul 2025 08:07:21 GMT - Rating 3 - Innovation 2 - Information 6 - Rumor 5