Maker has gained 53.5% over the last month, and the cryptocurrency witnessed an incredible 28.1% surge between July 15 and July 22, hitting its highest daily close in almost a year. While the gains are impressive, the real question is: Can the cryptocurrency maintain its current trajectory, or are short-term factors behind the price pump?
Average Maker (MKR) Price on Coinbase (NASDAQ :), Binance and Bybit. Source: TradingView
MakerDAO, the decentralized autonomous organization (DAO) responsible for stablecoin Dai (DAI) and token governance (MKR), launched a five-phase roadmap in mid-May. Dubbed “Endgame”, the upgrade plans include a new blockchain, a rebrand, and the introduction of two tokens featuring updated functionality.
MakerDAO’s estimated annual profit in dollars. Source: MakerBurn