MKR-The sleeping giant

MKR-The sleeping giant

By OnlyUp | OnlyUpTA | 29 Jan 2021


Maker DAO has a huge perspective for growth in 2021 in my opinion. The reason for that is the already developing second wave of DeFi boom. Apparently the adoption is happening and more and more fiat money flows into the crypto market. Due to the small cap of the stablecoins in existence today it is absolutely necessary to print (mint) more money on blockchain, thing which is obviously happening, during the past seven days or so I observe that hundreds of millions are being minted in USDC ,BUSD, PAX, HUSD everyday, I am not talkin about Tether who minted 900.000.000 alone today. The principle is simple: the more stablecoins are issued and used within the ecosystem - the bigger the demand for the native tokens of each protocol - the higher their price. Of course I would like to notice the perfect situation on the chart where we can see a bullish flag printed which I expect to be broken out upwards and the growth should be approximately equal to the previous leg up, this would be the area for me to take the first profits.

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OnlyUp
OnlyUp

Hi! I am day trader and crypto investor. #BTC #ETH #DOT #NEAR #PHA #REVV #REN #KSM #ZEC #XMR #VET #LINK #PCX #REEF #ZIL #WAVES #HEGIC


OnlyUpTA
OnlyUpTA

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