Maker is making moves and is in a good position to give more than 64.51% return in 2024. However, is Maker a good long-term hold? Let’s see what Maker’s price prediction is for 2024 to 2030. We will also understand the MakerDao project in depth.
In the last year, the Maker token is up 35.48%. Will the trend continue? Is MKR a good buy in January 2024? Let’s find out.
About MKR
| Metric | Amount |
| Maker (MKR) Price | $3,298.97 |
| MakerDao Website | Click here |
| Whitepaper | Click here |
| Tag | Lending, Defi, DAO |
| Circulating market cap | $3,048,377,198 |
| Fully diluted market cap | $3,223,639,040 |
| Total value locked | 8.937b |
| P/F ratio (fully diluted) | 10.9x |
| P/S ratio (fully diluted) | 10.9x |
| Revenue (30d) | $23.92m |
| Fees (30d) | $23.92m |
| Revenue (annualized) | $291.02m |
| Fees (annualized) | $291.02m |
| Treasury | $363.29m |
What is MakerDao?
MakerDAO is the decentralized autonomous organization that operates the Maker Protocol, which allows users to generate DAI, a decentralized stablecoin pegged to the US dollar. In other words, MakerDAO is the organization behind DAI.
The Maker Protocol, on the other hand, is a smart contract platform built on the Ethereum blockchain that enables users to create and manage collateralized debt positions (CDPs). Users can lock up certain types of cryptocurrencies, such as Ether (ETH), as collateral, and then generate DAI against that collateral. The collateral serves as a buffer against price volatility and helps ensure the stability of DAI’s value.
MakerDAO’s governance system, which is managed by holders of the Maker (MKR) token, determines key parameters of the Maker Protocol, including the interest rates charged on outstanding debt, the amount of collateral required to generate DAI, and the types of collateral that are accepted. The governance system also oversees the emergency shutdown process in case of system-wide issues.
What is DAI?
DAI is a decentralized stablecoin that is created and managed by the Maker Protocol. It is designed to maintain a stable value of 1 USD, which makes it a reliable medium of exchange and store of value for users in the cryptocurrency ecosystem. Unlike other stablecoins that are backed by a reserve of fiat currency or other assets, DAI is created through a process called collateralized debt position (CDP) on the Maker Protocol.
It is widely used as a stablecoin in the cryptocurrency ecosystem, with applications ranging from trading and speculation to remittances and micropayments. Because it is decentralized and operates on the Ethereum blockchain, DAI can be used globally without the need for intermediaries or permission from centralized authorities.
Users can lock up collateral assets, such as Ethereum, in a smart contract and create DAI as a debt against that collateral. The value of the collateral must always exceed the value of the DAI in circulation, ensuring that the stablecoin is fully backed by collateral.
Use cases of DAI
DAI is primarily used as a stablecoin, which means that its value is pegged to the value of the US dollar. This stability makes it an attractive asset for various use cases, including:
Decentralized finance (DeFi): DAI is widely used in the DeFi ecosystem, where it is used as a stable store of value and medium of exchange. Users can lend and borrow DAI, as well as use it to trade other cryptocurrencies.
Remittances: DAI can be used to facilitate cross-border transactions at a lower cost and with greater speed compared to traditional remittance services.
Payment for goods and services: Merchants can accept DAI as payment for goods and services, particularly in situations where using traditional payment methods is not practical.
Speculation: DAI can be used as a means of speculation by traders who believe that its value will increase or decrease relative to other cryptocurrencies or fiat currencies.
In short, DAI’s stability and accessibility make it a versatile asset that can be used for various purposes in the blockchain ecosystem and beyond.
How does MakerDAO maintain price stability for DAI?
MakerDAO maintains price stability for DAI by using collateralized debt positions (CDPs) which require users to deposit collateral such as Ethereum in order to generate DAI.
Additionally, the system has various mechanisms such as Stability Fees, Liquidation Ratio, and Debt Ceilings to maintain stability.
MKR Price Prediction 2024 to 2030
MKR Price Prediction 2024
| When | Maximum Price | Minimum Price |
| March 2024 | $3,308.500 | $2,067.813 |
| April 2024 | $3,341.585 | $2,227.723 |
| May 2024 | $3,375.001 | $2,812.501 |
| June 2024 | $3,408.751 | $2,840.626 |
| July 2024 | $3,442.838 | $2,869.032 |
| August 2024 | $3,477.267 | $2,897.722 |
| September 2024 | $3,512.039 | $2,926.700 |
| October 2024 | $3,547.160 | $2,955.967 |
| November 2024 | $3,582.631 | $2,985.526 |
| December 2024 | $3,618.458 | $3,015.381 |
MKR Token Price Prediction 2025
| When | Maximum Price | Minimum Price |
| January 2025 | $3,654.642 | $2,947.292 |
| February 2025 | $3,691.558 | $2,636.827 |
| March 2025 | $3,728.473 | $3,006.833 |
| April 2025 | $2,982.779 | $2,130.556 |
| May 2025 | $3,242.151 | $2,614.638 |
| June 2025 | $3,890.581 | $2,778.986 |
| July 2025 | $3,814.295 | $3,076.044 |
| August 2025 | $4,577.154 | $3,269.396 |
| September 2025 | $4,622.926 | $3,728.166 |
| October 2025 | $4,202.660 | $3,001.900 |
| November 2025 | $4,286.713 | $3,457.027 |
| December 2025 | $4,329.580 | $3,092.557 |
MKR Price Prediction 2026
| When | Maximum Price | Minimum Price |
| January 2026 | $4,372.876 | $3,526.513 |
| February 2026 | $3,498.301 | $2,498.786 |
| March 2026 | $2,691.001 | $2,170.162 |
| April 2026 | $2,421.900 | $1,729.929 |
| May 2026 | $2,179.710 | $1,757.831 |
| June 2026 | $1,676.700 | $1,197.643 |
| July 2026 | $1,385.703 | $1,117.502 |
| August 2026 | $1,074.188 | $767.277 |
| September 2026 | $1,342.735 | $1,082.851 |
| October 2026 | $1,678.419 | $1,198.871 |
| November 2026 | $1,846.261 | $1,488.920 |
| December 2026 | $2,067.812 | $1,477.009 |
MKR Price Prediction 2027
| When | Maximum Price | Minimum Price |
| January 2027 | $2,481.375 | $2,001.109 |
| February 2027 | $2,233.237 | $1,595.169 |
| March 2027 | $2,030.216 | $1,637.271 |
| April 2027 | $2,233.237 | $1,595.169 |
| May 2027 | $2,456.561 | $1,981.098 |
| June 2027 | $1,889.662 | $1,349.759 |
| July 2027 | $1,511.730 | $1,219.137 |
| August 2027 | $1,171.884 | $837.060 |
| September 2027 | $1,464.854 | $1,181.334 |
| October 2027 | $1,831.068 | $1,307.906 |
| November 2027 | $2,014.175 | $1,624.335 |
| December 2027 | $2,255.876 | $1,611.340 |
Maker Price Prediction 2028, 2029 to 2030
| When | Maximum Price | Minimum Price |
| January 2028 | $2,248.170 | $1,813.040 |
| February 2028 | $2,023.353 | $1,445.252 |
| March 2028 | $1,839.412 | $1,483.397 |
| April 2028 | $1,563.500 | $1,116.786 |
| May 2028 | $1,313.340 | $1,059.145 |
| June 2028 | $1,193.945 | $852.818 |
| July 2028 | $1,492.432 | $1,203.574 |
| August 2028 | $1,925.237 | $1,375.169 |
| September 2028 | $2,406.546 | $1,940.763 |
| October 2028 | $2,187.769 | $1,562.692 |
| November 2028 | $2,406.546 | $1,940.763 |
| December 2028 | $2,695.332 | $1,925.237 |
| January 2029 | $2,406.546 | $1,940.763 |
| February 2029 | $2,831.231 | $2,022.308 |
| March 2029 | $3,539.039 | $2,854.063 |
| April 2029 | $4,213.141 | $3,009.387 |
| May 2029 | $4,579.501 | $3,693.146 |
| June 2029 | $5,495.401 | $3,925.287 |
| July 2029 | $5,233.716 | $4,220.738 |
| August 2029 | $4,361.430 | $3,115.307 |
| September 2029 | $4,405.044 | $3,552.455 |
| October 2029 | $5,506.305 | $3,933.075 |
| November 2029 | $5,561.368 | $4,484.974 |
| December 2029 | $5,616.982 | $4,012.130 |
| January 2030 | $5,561.368 | $4,484.974 |
| February 2030 | $5,616.982 | $4,012.130 |
| March 2030 | $5,349.506 | $4,314.118 |
| April 2030 | $4,863.188 | $3,473.705 |
| May 2030 | $4,911.820 | $3,961.145 |
| June 2030 | $4,863.188 | $3,473.705 |
| July 2030 | $5,349.506 | $4,314.118 |
| August 2030 | $5,403.002 | $3,859.287 |
| September 2030 | $5,835.825 | $4,706.311 |
| October 2030 | $5,894.183 | $4,210.131 |
| November 2030 | $5,613.508 | $4,527.023 |
| December 2030 | $5,103.189 | $3,645.135 |
Looking ahead into the future, MKR is expected to demonstrate remarkable volatility in its price trajectory. In 2028, MKR is projected to soar to its peak value of $2,695.332 in December, driven by bullish market sentiment and increased demand. However, earlier in the year, in June, MKR may experience a downturn, plummeting to a minimum price of $852.818 due to market corrections and fluctuations. Moving into 2029, the upward trend continues with MKR reaching its highest point at $5,495.401 in June, showcasing sustained growth and investor confidence. Conversely, in May, MKR is likely to witness a temporary dip, hitting a low of $1,059.145, reflecting market uncertainties and corrective movements. As we progress to 2030, MKR’s price trajectory remains dynamic, with October marking the pinnacle at $5,894.183, indicating continued bullish momentum and market optimism. However, April could see a temporary setback, with MKR dropping to its minimum value of $3,473.705 as market forces and investor sentiment undergo adjustments. Throughout these fluctuations, MKR investors will continue to monitor the market closely, seizing opportunities and navigating through the volatility to optimize their investment strategies.
How to buy MKR?
MKR can be bought from several top cryptocurrency exchanges:
CEX: Binance (most recommended), Kucoin
DEX: Uniswap
FAQ
What is the Dai Target Price?
The Dai Target Price is the value of 1 DAI, which is pegged to 1 USD and is used to determine the value of collateral assets DAI holders receive in the case of an Emergency Shutdown.
What is an Emergency Shutdown in MakerDAO?
An Emergency Shutdown is a mechanism used during emergencies to protect the Maker Protocol against attacks on its infrastructure and to enforce the DAI Target Price. It is also used to facilitate a Maker Protocol system upgrade.
Can Maker reach 5000 USD?
Maker could reach 5000 USD for the first time around October 2029.
What is the use case of DAI?
DAI can be used as a medium of exchange for many decentralized applications, and its potential market is at least as large as the entire decentralized blockchain industry. It can be used for working capital, hedging, collateralized leverage, cross-border transactions, remittances, charities and NGOs, gaming, prediction markets, and more.
What happens if the value of the collateral deposited in MakerDAO drops below a certain point?
If the value of the collateral drops below a certain point (known as the Liquidation Ratio), the CDP is at risk of being liquidated. The system will automatically sell off some of the collateral to ensure that the value of the outstanding DAI remains covered by the remaining collateral.
What is MKR’s price prediction for 2025?
As per our price prediction, Maker could be trading in the range of $2,130.556o to $4,329.580 in 2025.
What is Maker’s price prediction for 2030?
Maker’s price prediction for 2030 suggests a maximum and minimum price for Maker is $5,894.183 and $3,473.705 respectively.
Is MKR a good investment in November 2024?
To understand whether MKR is a good investment or not in 2024, let us analyze a few factors:
MKR Marketcap vs TVL
MKR is a good investment at this point in 2024.
The current market cap is 3,048,377,198 USD and the TVL is close to 8.937b billion USD.
The current market cap is much lower than its TVL which is why I am anticipating a rise in the price of MKR.
The best time to buy MKR in the recent time was when MKR was trading at around 2000 USD. However, in my opinion, the second best time is now (not financial advice).
Also read:
- HFT Price Prediction 2024 to 2030
- FET Price Prediction 2024 to 2030
- AGIX Price Prediction 2024 to 2030In conclusion, Maker (MKR) appears to be a dynamic investment, showcasing significant price volatility and potential growth opportunities. With its role in the MakerDAO ecosystem and the popularity of DAI as a decentralized stablecoin, MKR’s performance is intricately linked to the success of decentralized finance (DeFi) applications. While the price predictions indicate potential fluctuations, the overall assessment suggests that MKR could present opportunities for investors, especially considering its essential role in governing the Maker Protocol and its impact on the broader DeFi landscape. As with any investment, thorough research and consideration of market conditions are advised before making decisions.
Disclaimer: The article – ‘What is MakerDao? MKR Price Prediction 2024 to 2030′ is a combination of my research on MarkerDao and its native token and use of our price forecast tool which may or may not be accurate. We advise you to take this as educational content, and not an endorsement. Please DYOR before investing. MKR or any other crypto is highly volatile and investment may not be always profitable.
Last updated: 26th March 2024.
