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Maker TVL has not seen any significant changes since 2023 while MKR price is currently at $2830
Maker is the governance token for Maker Dao and Maker Protocol. The holders of MKR are responsible for governing Maker protocol which includes adjusting the policy for DAI stable coin. It also includes choosing new collaterals, improving governance and shaping a better future for defi. There are over 400+ dapps which have integrated DAI on to their platform.
The unique proposition of the platform lies in that it allows its holders to directly participate in the governance of DAI which is one of the largest stablecoin. It has a market cap of $5.4 Billion and is ranked 22nd in CMC.This what drives the demand of Maker into the larger ecosystem. Lets have a closer look towards the onchain activity of the platform.
Is MKR Ready For Run With Stagnant TVL And Increasing Income?
Maker has a total holders of 100,715 with a slight increase in the past one month. Meanwhile, the MKR transfer count has seen a surge from 800 MKR to 20000 MKR within a few months.
Maker platform has observed an increase in lending income while decreasing its expenses and liquidated income. In the month of April the lending income of the MAKER platform reached to the highs of $14.8 Million. There expenses also get from $1.5 Million to $500k in the month of April The net income of the platform has also reached to $15 million leaving other protocols behind. The protocol surplus of the platform reached $49.4 million while the treasury assets increased to $905k in the last month. On the other side the DAI wallet distribution among retailers and whales has really taken a hit in the last few months.
Maker protocol has been observing a stagnation in the TVL since 2023. The current TVL of Maker is $8.25 billion while the daily revenue of the platform took a small dip. Meanwhile, the protocol has a weekly commits of 14 while the weekly developers are just 5 as per defillama.
Is MKR Price Gearing Up For $5000?
Maker has a market cap of $2.6 Billion and is ranked 45th in the Coinmarket cap. MKR has a total supply of 977631 in which 92.5% is circulating in the market. MKR token is currently trading at a price of $2819 with a slight dip of 1.4% in the intraday session. The asset price is currently trading in between the 50 and 100 EMA. MKR upside trend can see a halt near the value of $3000. The support of the asset price can be seen near $2500.
RSI of MKR is at 44 with no slope in it suggesting its presence in the neutral zone. The overall sentiment of RSI and MACD are neutral for the asset price.
Conclusion
Maker protocol is observing a strong growth in its overall financial activities. The net income of the platform along with users activity has been surging for the past few months. MKR price is currently in a neutral zone but can see a strong surge in the future as per various analysts.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
