• Maker (MKR) has seen a 53.5% surge in the past month, and is currently at its highest daily close in nearly a year.
• MakerDAO recently unveiled a five-phase roadmap dubbed “Endgame” which includes developing incentive programs for interactions and governance participation based on a new chain bridged to the Ethereum network.
• Major venture capital firms have been reducing their positions in MKR, potentially contributing to the price surge.
Recent Price Surge of Maker (MKR)
Maker (MKR) has seen an impressive 53.5% surge in the past month, resulting in its highest daily close in nearly a year. The cryptocurrency experienced a 28.1% jump between July 15 and July 22 as well.
MakerDAO’s Five-Phase Roadmap
In mid-May, MakerDAO launched their five-phase roadmap, called “Endgame”, which aims to create incentives for interactions and governance participation based on a new chain bridged to the Ethereum network with Hard Fork initiation capacity in response to power attacks or abuse.
Venture Capital Funds Unload MKR
Crypto markets and decentralized finance analyst Nay suggested that Paradigm Capital likely divested from MKR investments back in March while A16z, another major venture capital firm that previously invested in Maker has been reducing its position over recent weeks as well.
Buyback Mechanism & Other Key Metrics Impacting Maker’s Price
In addition to these potential factors behind the price pump, investors should also consider other key metrics impacting MKR’s price such as Maker’s buyback mechanism that involves burning MKR tokens with each Dai transaction fee collected by the protocol..
Given all of this information it seems clear that Maker looks primed to continue its rallying streak given recent developments involving buybacks and venture capital divestment from MKR investments. However, further analysis must be done in order to draw reasonable conclusions about where the cryptocurrency will head next