In this post, we will focus on Maker (MKR) price prediction to find out whether MKR is worth investing in or not? While everyone has heard of Bitcoin or Ethereum, it is necessary to remember that they are not the only profitable virtual assets in the crypto market. For instance, Maker (MKR) is a growing blockchain-powered ecosystem that’s been making some headlines these days. The purpose of this article is to provide a comprehensive guide to this exciting cryptocurrency.
Here, we will try to answer what Maker (MKR) is? What are its goals? How do crypto analysts and experts think about it? Should you invest in MKR? Is it likely to go up or crash in the short or long term? How high can the MKR price go?
These are some of the most common questions you may have as an existing or prospective MKR investor. If you are interested in finding out the answers, you are at the right place to have your queries answered. But before diving into MKR price prediction for 2021 and onwards, let us find out more about the Maker project and the team working on it. Additionally, we will review its price history till now to better understand its future price movement. So let’s begin and learn together.
What Is Maker (MKR)?
Cryptocurrencies are often well known for their high volatility levels. Maker (MKR) is trying to address this problem by creating a stable token called DAI. This token is one dollar-backed and can exchange at whatever price the users want due to supply and demand. Moreover, Maker aims to solve real-world financial problems. The project tries to tackle various issues that trouble the traditional financial sector, including lending and borrowing. It is a critical network in the DeFi sector. Maker is a bit complicated to understand. Because several things are going on at once. Maker is a combination of Governance, Risk Management, and CDPs (Collateralized Debt Position). Let’s take a closer look at each one.
The Maker platform allows users to generate DAI through the Maker’s decentralized autonomous organization (DAO) system. This system acts as a central bank for DAI tokens and controls its price by increasing or decreasing supply based on demand levels to make the value of DAI stable at one dollar. Moreover, a decentralized autonomous organization (DAO) allows members to vote on how their organization should evolve to increase its stability. Thus, every investor or trader of MKR has voting rights when it comes to the governance of the system. Additionally, the system also lets traders and investors use Ether as collateral to generate a dollar-pegged token that they can use for various reasons, including debt repayments. Because of this, Maker will continue to dominate the lending and borrowing niche ahead of similar projects like Aave and Compound.
The key thing to remember is that the Maker project was created by members of the Ethereum foundation. Thus, it is backed by one of the strongest crypto communities on earth. Furthermore, like other cryptocurrency projects on Ethereum, the entire Maker ecosystem runs on smart contracts.
The Maker Team
The Maker project was founded by Rune Christensen, a Danish entrepreneur. Besides studying Biochemistry at Copenhagen University, he also studied International Business at Copenhagen Business School. Since 2015, he has focused on establishing the vision and organizational structure of the Maker Decentralized Autonomous Organization and the economic foundations of the DAI stable digital currency. Before this, He served as co-founder of Try China, a company providing international recruiting.
In addition to Rune Christensen, there is a serious team of developers behind the project who are determined to continue maintaining and improving the protocol. Among those, we can name Steven Becker and Shefali Roy who is a famous economist.
MKR is a token that is built on the Ethereum blockchain network. In essence, the Maker platform is one of the most popular Ethereum-based platforms, and MKR is one of the most popular ER-20 tokens. MKR can be sent and received by any Ethereum account or any Smart Contract set to use the MKR transfer function.
The native ER-20 currency serves as the governance token and for investing/buying into the Maker project. In other words, the MKR token serves two purposes: it serves as the primary investment vehicle in the Maker network and also as the governance token that enables investors to vote for possible changes in the network.
Maker (MKR) is different from DAI. While DAI is a stable coin always equal to one dollar, MKR is a regular cryptocurrency with a fluctuating value. It is the token you can purchase when the price is low and sell for a profit once the price rises. It is available on many exchanges and crypto platforms such as Kraken, Binance, and Easy Crypto. Therefore, the Maker platform employs two tokens (i.e., MKR and DAI). While DAI is tied to the USD, MKR is used both to support the stability of DAI and also for community governance.
Also, MKR has a limited supply. The current circulating supply is 991,328, while the maximum supply is 1,000,000. With the limited maximum supply, and increasing demand this token continues to have in recent times, it makes sense to have at least a few of these tokens in your investment portfolio.
MKR Price History
Source: TradingBeasts (MKR Price Chart)
According to the data derived from CoinMarketCap, the MKR token started trading in early 2017, at between $200 and $300. Later, it surged to over $1,300 by mid-December 2017 before declining gradually to below $1,000 by the end of the year.
MKR Price Movement in 2017
MKR Price Movement from 2018 to 2020
At the beginning of 2018, MKR showed signs of bullishness, with its value appreciating along with that of Bitcoin (BTC) and other major coins. In mid-January 2018, the MKR token achieved another high price of around $1,650 before entering a downward trend. From there, the price stagnated with slight fluctuations.
It spiked to over $1,000 in early May, then dropped again to less than $400 at the beginning of 2018. In mid-September, the token was on the verge of dipping below $300. But it managed to stand its ground and traded between $300 and $700 until early March 2020, when it fell as low as $213.
MKR Price Performance from 2018 to 2020
MKR Price Movement in 2021
Maker traded between $200 and $600 until January 2021. Between January 1st and May 3rd, 2021, Maker rose from $600 to attain its All-time high of $6,339.02 on May 3, 2021, representing almost a %956.5 gain. According to Coincodex, the third quarter of 2021 has been extraordinary for MKR as it grew by over %171. This remarkable growth pushed its price above the $6,000 level for the first time in history and established Maker as one of the top cryptocurrencies to watch for this year.
MKR has grown significantly from 2018 to this point. According to CoinMarketCap, if you purchased MKR at the time of launch, you would now be enjoying a %16496.53 gain on your investment. As such, with a return on investment (ROI) of %16,337.24, Maker (MKR) is one of the absolute winners from 2021’s bull market in cryptos.
MKR Price Prediction in 2021 and Onwards
In the previous section of this article, we discussed Maker’s history from the very beginning until now. It is not possible to predict precisely how events will unfold in the future. But some crypto experts and analysts have provided some predictions based upon their technical and fundamental analyses. Let’s look at some of them to see what they think about the future of this cryptocurrency. In this regard, it is essential to remember that these price predictions are just speculations and better be considered as a guide and not a final and guaranteed verdict.
WalletInvestor MKR Price Prediction
According to WalletInvestor, MKR is a profitable investment option. Based on their crypto forecasts, a long-term increase is highly likely to happen. The MKR price prediction for 2026-09-12 is 18615.40 dollars. Therefore, with a five-year investment, the revenue is expected to be around +559.57%. As such, your current $100 investment may be up to $659.57 in 2026.
Source: WalletInvestor (long-term MKR Price Prediction)
As shown in the graphs above, this virtual currency has a positive outlook. Thus, WalletInvestor recommends it as a part of your portfolio. The platform thinks that the Maker price can go up from 2822.340 USD to 5944.400 USD in one year, meaning a %110.62 increase in one year.
TradingBeasts MKR Price Prediction
TradingBeasts claims that the MKR price prediction is $2,745.588 by the beginning of December 2021. The expected maximum price is $3,431.985, and the minimum price is $2,333.750. The MKR price prediction for the end of the year is $2,745.588.
MKR Price Prediction in 2021
While due to their forecasts, the Maker price is going to decrease in 2021, the conservative platform anticipates that it will reach at least $2,592.871 by the end of 2023.
CryptoNewsZ MKR Price Prediction
Given the advancements are maintained, the Maker price will touch $8200, making it an all-time high by December 2021. With Partnerships, alliances, and community support, the Maker may reach a level of $9500 in 2022, which is quite optimistic but undoubtedly achievable. In 2023, the maker price should sail at $11500 or max bow down to $9400. The Maker price may grow in leaps and bounds, rising around $15000 in 2024.
New Partnerships would bring Maker to the limelight, making it the center stage for investments and a socially recognized cryptocurrency in the next five years. As such, the MKR price prediction will be above $16500 in 2025.
DigitalCoin MKR Price Prediction
Source: DigitalCoin (MKR Price Prediction)
As shown in the graph above, the platform predicts that MKR will be $4,104.30 in 2021. Moreover, MKR predicted price will reach ($4,692.10) in 2022, ($6,026.33) in 2023, ($7,518.82) in 2024, ($8,359.22) in 2025, ($9,875.66) in 2026, ($9,478.85) in 2027, and finally ($12,997.84) in 2028. Then, according to the data derived from Digital coin, the lowest price of MKR in the future will be up to $11,299.56, and its highest price in the future will be up to $13,959.93. Therefore, MKR prices will increase according to their predicted data in the future.
GOV Capital MKR Price Prediction
The coming years will appear as a successful time for Maker (MKR) as there can be an extension to the partnerships and emerging innovations that finally will raise the MKR price to $5937 by the end of 2021 and $13666 by the end of 2025. They think that if you invest $100 now in the digital asset, your current investment will be worth $159.671 on September 17, 2022. Then, according to them, MKR can be a profitable portfolio addition for the future after Bitcoin cloud mining.
Source: Gov. Capital (MKR Price Prediction Day by Day)
Maker looks like a promising cryptocurrency. The Maker project has strong fundamentals that should allow it to continue performing well in the future. However, there is still a lot of work to be done before Maker is ready for mainstream adoption, and this development may take several years.
Nevertheless, it seems there are more reasons for optimism than pessimism. Considering key factors such as its proven price history of good performance, technical capabilities, network upgrades, new partnerships, positive expert MKR price prediction, and increasing investor interest. If you are looking for a long-term hold, then it seems the token has the potential to grow a lot further in the future.
Although MKR has some strong and reliable fundamentals, it is not completely immune to the volatility that rules the cryptocurrency market. The key to success in such a volatile market is to take the right actions at the right time. Additionally, be aware that Maker has some powerful rivals in the industry. Therefore, remember to do due research before investing in any crypto.