Is MakerDAO's move toward decentralization, triggering this rally for Maker

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MakerDAO ^[1], the organization behind the stablecoin DAI and the altcoin Maker (MKR), has been undergoing some radical changes. This, in spite of the fact that the challenges of exploits and hacks slowed them down. Moreover, MKR’ value has been rising at a phenomenal rate. And now, it appears that the recent developments may have put MKR in a really profitable position.

What Maker did

About a month ago MakerDAO announced that its foundation will officially dissolve in the coming months. As they reached the final step on their roadmap, to a completely decentralized network, the price action displayed a positive impact. In the month following this announcement (July 21), MKR rose by almost 66.7%. This rally placed the price action at $3632, up from $2180.

Maker’s 66% price rise | Source: TradingView – AMBCrypto ^[2]

In addition to this, the announcement also turned the investors bullish as its effects were observed on the supply. The supply sitting in exchanges came down, which means people have begun buying again, after 4 months of no movement. This buying comes despite the recent attacks on the network, which saw more than $7 million worth of assets being removed.

Maker’s supply on exchanges and MVRV ratio | Source: Santiment – AMBCrypto ^[3]

Is this a good opportunity for investors?

It is. At the moment MKR’s value

Is MakerDAO's move toward decentralization, triggering this rally for Maker

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