MAKER - The Earliest Project Development In DeFi - Kakiforex.com - Financial Market Media No. 1 in the World MAKER - The Earliest Project Development In DeFi MAKER - The Earliest Project Development In DeFi
InstaForex

June 23, 2021

MAKER - The Earliest Project Development In DeFi

 Maker is a ‘governance token’ to MakerDAO and Maker Protocol. Maker development consists of a decentralized software platform and organization which are both based on the Ethereum blockchain.


The creation of Maker was the brainchild of Rune Christensen in 2015 before being officially launched in December 2017.


Rune Christensen developed this Maker project to enable users to issue and manage DAI (stablecoin) and indirectly be able to handle its price to remain stable.


Maker Ecosystem is one of the earliest projects in the decentralized finance (DeFi) scene that seeks to build decentralized financial products on top of smart contract chains such as Ethereum.


Looking at the MKR/USDT chart, the MKR price movement is seen to have exhibited a jump of more than 900% on the 2021 market movement before declining back to the support level around $ 2,100.


However, at the opening of the market today, the MKR price saw the $ 2,100 support level able to support the MKR price movement to make a jump again.



If the MKR price movement continues to maintain the uptrend, the SBR (support become resistance) zone around the $ 2,900 price is seen to be the level to be tested before jumping higher.


If the SBR level of $ 2,900 is successfully broken, the MKR price is expected to move to the next SBR zone around $ 3,800- $ 4,000 and become the focus zone for investors in anticipation of the next movement signal.


However, if the price continues to decline, the support level of $ 2,100 will be broken and the price is expected to head to the lowest support level at the price level of $ 1,500 to maintain the bearish trend.


The lower decline will push the MKR price to re -test the 2021 market opening level of around $ 600.


As of 11.30am local time, the MKR price jumped over 6% to trade at a price level of around $ 2,400