Maker (MKR), a decentralized autonomous organization (DAO) and a cryptocurrency, has recently caught the attention of traders and investors as it experienced a significant rise in price. In this article, we will explore the recent price movement of Maker (MKR) and analyze the chart patterns to gain insights into its potential future direction.

MKR Price Surge: In the past few days, Maker (MKR) has witnessed a sharp increase in its price, leading to a notable rally. This surge in MKR's value has sparked interest in the cryptocurrency community, as it outperforms other major digital assets during this period. The recent positive momentum surrounding MKR has attracted traders and investors seeking opportunities for potential profits.

Technical Analysis: Technical analysis can provide valuable insights into the potential future price movements of a cryptocurrency. By examining chart patterns, traders can identify key support and resistance levels, as well as potential trend reversals.

Uptrend Formation: The recent price surge indicates the formation of an uptrend in Maker (MKR). An uptrend is characterized by a series of higher highs and higher lows on the price chart. The presence of an uptrend suggests that the market sentiment is bullish, and buyers are willing to enter positions at higher prices.

Resistance Level: As Maker (MKR) rises, it may encounter resistance at certain price levels. Resistance levels are areas on the price chart where selling pressure is concentrated, potentially causing a temporary pause or pullback in the upward movement. Traders will closely monitor these levels to assess the strength of the current rally.

Moving Averages: Moving averages are commonly used in technical analysis to identify trends and potential support/resistance levels. The 50-day and 200-day moving averages can provide insights into the short-term and long-term trends of Maker (MKR). A "golden cross," where the 50-day moving average crosses above the 200-day moving average, is often considered a bullish signal.

Relative Strength Index (RSI): The RSI is a momentum oscillator that measures the speed and change of price movements. An RSI reading above 70 may indicate that Maker (MKR) is overbought, suggesting a potential correction or consolidation in the near future. Conversely, an RSI below 30 may signal an oversold condition and a potential bounce back.

Conclusion: The recent surge in Maker (MKR) price has generated excitement among traders and investors. As the cryptocurrency forms an uptrend on the price chart, there is potential for further gains in the short term. However, it is essential to approach trading with caution and consider other technical indicators and fundamental factors before making investment decisions.

As with any financial market, cryptocurrency prices can be volatile and subject to sudden fluctuations. Traders should employ proper risk management strategies, set clear entry and exit points, and conduct thorough research before making any trading decisions.

Note: The content of this article is for informational purposes only and should not be considered as financial advice. Investors should conduct their due diligence and consult with a professional financial advisor before making investment decisions.

#bykaranteli #Binance #maker

Maker Governance, the decentralized autonomous organization behind the Maker Protocol, has made a series of emergency parameter changes aimed at reducing Maker’s exposure to volatile centralized stablecoins and reinforcing the DAI peg. These changes were deployed following an emergency executive vote that took place on Saturday, March 11, 2023.

The changes that have been made to the Maker Protocol include an increase in the USDC PSM USDC→DAI swap fee from 0% to 1%, a reduction in the USDP PSM USDP→DAI swap fee from 0.2% to 0%, an increase in the USDP PSM DAI→USDP swap fee from 0% to 1%, a reduction in the USDC PSM daily mint limit from 950 million DAI to 250 million DAI, and a reduction in the GUSD PSM daily mint limit from 50 million DAI to 10 million DAI.

Additionally, Maker Governance has increased the USDP PSM daily mint limit from 50 million DAI to 250 million DAI, increased the USDP PSM debt ceiling from 450 million DAI to 1 billion DAI, reduced the UNIV2USDCETH-A debt ceiling from 50 million DAI to 0 DAI, reduced the UNIV2DAIUSDC-A debt ceiling from 100 million DAI to 0 DAI, reduced the GUNIV3DAIUSDC1-A debt ceiling from 100 million DAI to 0 DAI, and reduced the GUNIV3DAIUSDC2-A debt ceiling from 100 million DAI to 0 DAI.

Maker Governance has also reduced the DIRECT-AAVEV2-DAI target borrow rate from 2% to 0% and reduced the DIRECT-COMPV2-DAI target borrow rate from 2% to 0% to deactivate D3M.

The rationales behind these changes are varied. The increase in the USDC PSM USDC→DAI swap fee aims to discourage swapping USDC for DAI via the PSM. The USDP PSM changes seek to enable USDP to provide liquidity in case DAI goes above the peg and limit USDP swaps for riskier stablecoins. The GUSD PSM changes aim to limit potential losses due to contagion risk.

Read more: https://azcoinnews.com/maker-protocol-deploys-parameter-changes-to-reinforce-dai-peg.html

#markerdao #maker #DAI #Stablecoins

On March 16, lending protocol and stablecoin issuer MakerDAO passed a proposal to increase its portfolio holdings of United States Treasury bonds by 150%, from $500 million to $1.25 billion.

The proposal aims to increase the protocol’s exposure to real-world assets and high-quality bonds following the Dai stablecoin losing its $1 peg during market volatility on March 11. The $750 million debt ceiling hike was approved by 77% of Maker’s delegates.

MakerDAO plans to use $750 million of USDC in the PSM to purchase more US Treasury bonds, diversifying its liquid assets that back DAI. The bonds will be purchased with equal maturities, biweekly and over a six-month period, totaling 12 slots of $62.5 million each. MakerDAO expects to deliver a net annualized yield of 4.6% to 4.5% after custody and also aims to boost its revenue stream by trading costs.

The proposal would allow Maker “to take advantage of the current yield environment, and generate further revenue on Maker’s PSM Assets, in a flexible, liquid manner,” according to the proposal. Treasury’s yields for 10-year constant maturity were at 3.64% on March 14, according to Federal Reserve data.

The proposal was well-received, with 77% of Maker’s delegates voting in favor of it. MakerDAO will deploy the debt ceiling increase under the same terms and transaction mechanisms as set out and approved in MIP65. The debt ceiling increase will be deployed under a structure based on MIP65 to hold assets and mitigate any single entity exposure concerns. The implementation of the asset strategy will be carried out by Sygnum Bank under an execution mandate set out in a MakerDAO resolution instruction.

MakerDAO’s decision to increase its portfolio holdings of US Treasury bonds is expected to generate further revenue and reduce risks associated with volatile market conditions. The proposal was well-received by the DAO and is expected to be executed in a flexible, liquid manner to take advantage of the current yield environment. The move towards real-world assets and high-quality bonds is expected to improve the stability of MakerDAO’s stablecoin Dai and boost investor confidence.

#makerdao #maker #DAI #azcoinnews #MKR

This article was republished from azcoinnews.com