The Maker Prize (MKR) increases in view of South Korea's expansion efforts

manufacturer (mkr) The price increase continued, while investors observed the expansion of the network in South Korea, one of the largest players in the crypto industry. The MKR-Token jumped to a high of $ 1,150 on Thursday, the highest level since August 16. It has increased by more than 17 % of the low in August.

The main trigger for the MKR price increase is the developer's push to South Korea. In a statement of August 29, the developers said that they were interested in introducing subdao in the country. The Subdao Genesis event will take place on September 3 in South Korea.

A subdao is an approach that improves governance in a blockchain platform. It has an independent foundation and owner structure, but is then bound to the superordinate DAO in its mission. The aim is to promote more decentralization in the ecosystem.

As part of its South Korean advance, Marker is also a co-sponsor of the Ethconkorea, a major event in Seoul.

we sponsor pic.twitter.com/o4h3dewhuw

- manufacturer (@makerdao) 29. August 2023

also the maker prices rise because the demand for the Spark protocol continues. Data compiled by Defi Llama shows that the TVL of the Defi protocol has increased to over $ 681 million in recent months. The highest TVL was $ 700 million.

investors are attracted to the Spark Protocol due to its much higher returns compared to its competitors. This also explains why DAI's market capitalization has increased recently.

Maker Prize forecast

The 4H diagram shows that the MKR price has been in a steady upward trend in the past few days. During this period, the coin has managed to climb the important resistance brand of $ 1,121, the high on August 22nd. The coin has risen over the sliding 25-day and 50-day average.

The manufacturer's price has also increased via the Ichimoku cloud indicator. Therefore, the prospects for the economic upswing are bullish, whereby the next level that should be kept in mind is $ 1,200. The stop loss of this trade is $ 1,100.

How to buy maker