TechFlow news, crypto research firm Ouroboros Research recently reiterated its optimistic outlook on MKR in a new tweet. Ouroboros Research believes that as MKR profits and DAI issuance reach fresh highs, the MKR price will soon test the $1,500–$1,600 range.
Ouroboros Research identifies the following factors as drivers pushing MKR profits and DAI supply toward record levels:
1) EDSR yield reduced to 5%;
2) Expansion of BlockTower Andromeda vault;
3) Increased DAI supply;
4) Higher borrowing fees driven by SPK incentive programs encouraging more DAI borrowing.
The recent pullback in MKR is primarily attributed to 8% EDSR (temporary) eroding MKR profits, along with broader altcoin corrections, providing a buying opportunity for long-term MKR holders.
