Maker is Set to Rise
Maker (MKR) is rising by 1.0% to $2440 this week, outperforming the market. Meanwhile, Bitcoin (BTC) has declined by 4.1% to $63,845, its lowest level since May 15. The positive potential for MKR is supported by the upcoming transformation of the DAI network, set to begin this summer. MKR, one of the largest stablecoins by market cap, is used to back up DAI, a cryptocurrency pegged to the U.S. Dollar.
The DAI transformation, according to the Endgame roadmap, aims to position MakerDAO towards scalable resilience and sustainable user growth. The project's founder, Rune Christensen, envisions a massive expansion of the Maker project, targeting 100 billion DAI and beyond. This expansion will include the release of new stablecoins, innovative revenue generation methods, and potentially limitless new business opportunities through the creation of "subDAOs." Christensen suggests this could lead to a DeFi summer lasting until 2025-2026.
With these developments, Maker has strong prospects for continued growth, with a target of reaching the $3000 resistance level.
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