MakerDAO’s MKR Declines By 6% In The Past 24 Hours

MakerDAO's MKR token is down 6% in the past 24 hours. This drop follows a 12% price increase over the past 30 days. MKR is currently trading at $58.1, down from its all-time high of $59.6 set on January 25, 2018.

The drop in the price of MakerDAO's MKR token is not surprising as there are currently no known catalysts for this drop. In fact, some of the key catalysts for this pullback are likely to keep the price from reversing any time soon:

The drop comes after a period of relative stability since mid-January when prices traded at an all-time high of $60/MKR. The market volatility peaked in late February when news of security vulnerabilities affecting Ethereum-based smart contracts known as DAOs (Decentralized Autonomous Organizations). After a period of relative stability from mid-January to late-March, market volatility spiked again in early April when the news broke.