MKR Price Analysis May 2022

MKR is a native token of platform Maker. It’s current trading at $1,165.06 by writing, it touched a low of $1,035.63 and has a market cap of 1.1 billion dollars.

What is Maker?

Maker is a company based on the Ethereum blockchain that issues DAI using smart contracts. People can use Maker to loan cryptocurrency and offer stability in a volatile market. MakerDAO, a decentralized autonomous organization, makes important decisions about the project’s direction. As such, it’s a good investment.

Maker is an Ethereum token with a variety of features. It helps guide project implementation by outlining the importance of governance and transparency. It also accepts a reinvestment function to ensure development, market demand, and sustainability.

What is MKR?

MKR is the token of the Maker platform, which is around $1,165.06 by the time of writing, with a low of $1,035.63. MKR, a crypto asset and technology infrastructure powering the Maker ecosystem, recently reached a high of $6,074.91 and is currently ranked 49 according to CoinMarketCap. With a market cap of 1.1 billion dollars, the asset provides utility and serves as the recapitalization resource for Makers on the platform.

MKR Coin Market Analysis 

MKR has a max supply of 1,005,577 coins worth around $1,165.06 with a market volume of 728 million dollars, whereas the market capitalization is 1.1 billion dollars at writing. 

MKR Price Prediction

Many investors won’t hesitate to buy Maker (MKR). It’s a project that has shown promise, but you’ll need to do your research before investing in anything.

On the 3H timeframe, the price action of $MKR/USDT has formed an ascending triangle chart pattern. It is trading on a horizontal resistance zone. We have to wait for a successful breakout or breakdown.

For any time, on-demand analysis on $MKR or any other coin can join our Telegram channel.

Mkr Price Chart Of May 2022
MKR Price Chart of May 2022

Closing Thoughts

Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed about might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.

Disclaimer: Our analysis is for educational purposes.

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Pratyaksh