Maker (MKR) Token Sees Volatile Trading Amidst $1 Billion Investment Announcement

Maker (MKR) token has seen volatile trading in the past four days giving a choppy trading trajectory. Investors are now worried about whether the coin will be able to pick pace in the coming days or not.

The price of Maker (MKR) has experienced significant volatility over the past four days, leading to a choppy trading pattern. Investors are closely monitoring the coin’s price action, speculating on whether it will continue to rise or face a downturn.

At press time, MKR is valued at $2,900.61, reflecting a 2.9% increase compared to the previous day. However, the previous day saw the token drop to a low of $2,776.81.

MakerDAO Announces $1 Billion Investment in Tokenized US Treasuries

The recent surge in MKR prices can be attributed to the announcement of a substantial $1 billion investment in tokenized US Treasury securities by MakerDAO. This move has instilled optimism among investors, sparking discussions on whether this strategic decision will alter the foundational principles governing the decentralized finance (DeFi) ecosystem.

MakerDAO's decision to expand its holdings beyond Ethereum has garnered significant attention. In addition to reducing its heavy reliance on a single asset, the platform is bolstering the concept and prospects of tokenized real-world assets (RWAs) with a staggering $1 billion allocated to US Treasuries. Anticipations are high that MakerDAO's entry into the $2 billion tokenized RWA market will serve as a new industry standard, driving further growth and development in the sector.

Will MRK Continue to Rise in the Future?

While Favorable trading days for MRK over the past month suggest a strong bull run, it seems unlikely that the bull run will be sustained without further positive news. Similar to the previous good news, MKR needs more bullish news and updates in the upcoming month to keep rising. In the absence of this, the price may begin to decline.

According to the current price estimate, the price of Maker is expected to decrease by 9.06% to reach $2,637.26 in the upcoming month. Other technical indicators reveal that the mood is bullish right now, and the Fear & Greed Index is 65 (Greed). Over the previous 30 days, Maker saw 19/30 (63%) green days and 7.02% price volatility. The overall Maker price forecast sentiment is optimistic based on data with 28 technical analysis indicators indicating bullish signs and 4 indicating bearish indications.

The maker's 200-day SMA is expected to grow to $2,592.48 in the upcoming month. By August 15, 2024, Maker's short-term 50-day SMA is predicted to reach $2,652.17. The momentum oscillator known as the Relative Strength Index (RSI) is a widely used indicator that indicates when a cryptocurrency is overbought (above 70) or oversold (below 30). The RSI number is at 64.18, indicating a neutral posture.

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