MakerDAO MKR Token Skyrockets 55% in July: What Happened?

MakerDAO's native MKR token is at the center of attention after experiencing a dramatic surge of 55% throughout the month of July.

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MakerDAO Stakeholder-Focused Updates Drive MKR Price Up By 10%

Blockchain protocol MakerDAO (MKR) continues to see significant gains, maintaining a strong upward trend throughout the year. MKR has seen significant growth of over 358%, accompanied by positive metrics reflecting increased adoption and usage of the protocol. In addition, upcoming voting initiatives aim to further increase the platforms benefits for its stakeholders. MakerDAO Announces Plans For [...]

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Maker (MKR) Records Higher Gains As Market Turns Red, What’s Behind It?

The crypto market swiftly turned bearish from yesterday’s scarcely bullish outlook, and top coins have receded farther from their new-found support. But interestingly, MarkerDao’s MKR appears unperturbed by the market’s gloomy sentiment as MKR soared higher with massive gains, adding over 17% to its value on the day.  MKR Price Outlook Over the last day, the MRK token has witnessed several steep rise and fall. The digital asset reached a day-high of $1,203 at 2:30 am UTC on July 21, a 20% increase from its July 20 opening price. Related Reading: Best Bitcoin Roulette Sites And Crypto Roulette Games MKR had lost momentum shortly after the $1,203 peak spike, falling to $1,134. However, it continued the fluctuations before regaining momentum for a more bullish rise. At the time of writing, Maker’s price is changing hands at $1,162, with a 17.63% 24-hour price increase.  Maker’s current price is 26% higher than its value seven days ago and it may surpass $1,200 if it sustains the current bullish rally. A close look at MKR’s sudden price resurgence suggests the token might be riding on some other bullish waves. Possible Reasons Behind Maker’s Sudden Price Surge Maker’s dramatic price surge may be due to recent developments in the MakerDAO ecosystem. On-chain sleuth, Lookonchain, reported some conspicuous activities by top VC firms Andreessen Horowitz’s a16z and CMS Holdings, which are suspected to be responsible for the price surge. According to the report, a16z recently deposited large chunks of Maker tokens to Coinbase. The venture capital company deposited 12,864 MKR tokens worth approximately $12.6 million at the time.  The firm also reportedly transferred another 6,900 MKR, worth $8 million by today’s exchange rates, to a new address, presumably with plans to deposit the funds on an exchange. Currently, a16z holds around 12,396 MKR tokens worth ~$14.4 million. Also, Lookonchain reported that CMS, a blockchain-focused private investment company, reduced its recently acquired MKR holdings. CMS Holdings deposited 525 MKR tokens worth $614,000 to Binance two hours before the sharp price surge. CMS previously withdrew 1,325 Maker tokens worth $1.54 million from Binance and Bitget at an average price of $793. The investment firm now holds 800 MKR, worth approximately $936,000. Implications Of a16z And CMS Holding’s Activities The unprecedented change in the token holdings of these top market players must have significantly contributed to the token’s price spike. The market positively reacted to the massive MKR sales, leading to increased trading volume and price surge. The sharp spike in MKR’s price can be interpreted this way: the trading activity of institutional investors like a16z and CMS Holdings draws more attention to Maker. The renewed interest could bring new buyers, exerting more demand pressure on the token and causing the price to spike further. Related Reading: Dogecoin Sees Positive Price Movement, Bulls Set Crosshair At $0.075 However, the firms’ Maker holdings reduction may raise questions about the token’s long-term value. This potentially bodes badly for MKR as it could depress investor sentiment, causing massive selloffs which might push the price down. Featured image from Pixabay and chart from TradingView.com

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Maker Price Soares 7% On The Back Of Multiple SEC Enforcements

The crypto market was shaken at the start of the week as the US Securities Exchange Commission (SEC) took multiple enforcement actions that shifted attention [...]

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Maker (MKR) Records 13% Gains Undeterred By Market Downtrends

MKR, the native token of the Maker Protocol, has recorded substantial gains despite the most recent market downturn. After news of FTX’s liquidity crisis rocked the crypto market, several coins have struggled to bag daily gains to no avail. However, MakerDAO’s governance token has experienced an impressive surge today. Specifically, MKR trades at $873 press time, gaining over 26% on the day. Despite the huge jump in the day, Maker still hasn’t recovered its weekly losses. However, if its bullish trend continues, it might fully recover in a short time. Related Reading: Bitcoin Eyes $18K Following Good US Inflation Report MKR Surges As Bullish Momentum Kicks In After a steep drop and sell-off over the last day, bulls have succeeded in turning around the Maker’s (MKR) negative trend. MKR’s price increased by $177.40, or 13.64 percent, to $840 during this recovery. The main catalyst for the price surge is an increase in 1-day trading activities and market cap. Specifically, MKR saw a 27.26% increase in its market capitalization and a 15.37% surge in trading volume. MKR’s gains were most felt in the DeFi sector of the Maker Protocol. According to a Token Terminal Intern on Twitter, the DeFi sector lost around 20% of its total value locked in the last 24 hours. This is unsurprising and expected due to FTX’s controversy. However, despite the downturn, Maker recorded an increase in its TVL. Precisely, Maker saw a TVL increase of 28% over the same period.  This increase results from the recent surge in borrowing activities on the platform. As per the thread, Token Terminal Intern noted that the top-three lending protocols, including Maker, facilitated $27B worth of trading volume. The account mentioned that the increase resulted from traders fleeing centralized exchanges due to the FTX collapse. What The Charts Say About MKR’s Movement The intersection of the upper and lower Bollinger Bands is located at 780 and 615, respectively. The widening of the bands indicates a rise in trading activity, which may lead to a price breakthrough. Since the market has broken out above the upper range, bulls appear to be in control, and this upward trend might continue for a while. The RSI is currently at 57.45, which has been quite constant over the past few hours. As a result, the MKR market shows signs of balance between buyers and sellers, suggesting the positive trend will continue. The MACD line is still negative at -8. However, it has crossed over the signal line and is trending upward into positive territory. The histogram is trending upwards, supporting the current bullish pattern. As the MACD line rises above the EMA line, we may be certain that the MKR market will continue to rise.  Related Reading: Bitcoin Supply In Loss Now At Similar Levels To COVID Crash And 2018 Bottom Moving averages for 5 and 20 days are 749 and 698, respectively. This uptrend is further backed by the rise of market prices above both moving averages. The Coppock curve, which has just climbed from the negative zone to a value of 8, also implies sustained growth in the MKR market. Overall, the market is expected to stay positive, and major technical signs point to more gains coming up soon. Featured image from Pixabay and chart from TradingView.com

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Maker Price Prediction 2022 : What is the future of Maker coin?

Before we start with Maker price prediction, let’s check the Maker Ecosystem. MakerDAO is a decentralised autonomous organisation that uses the Maker protocol to deliver cheaper and faster transactions while removing the complications of the decentralised ecosystem. Maker was built with the sole intention of providing a multifunctional and multipurpose benefit in all aspects of […]

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Maker Price Prediction – If you own $MKR, you might want to SELL NOW?

The post Maker Price Prediction – If you own $MKR, you might want to SELL NOW? appeared first on CryptoTicker.

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Maker (MKR) Outperforms Top Coins With 12% Increase A Day, Will It Test $1,100?

The past few days have favored altcoins with incredible gains. Among the soaring coins is MakerDAO’s governance token Maker (MKR). MKR witnessed impressive price performance in the last seven days, outpacing top cryptocurrencies with over a 48% price increase on the weekly top gainers’ chart. CoinMarketCap data shows that Maker (MKR) price recorded a significant [...]

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Weeks of Prosperity: MKR Holders See Wealth Grow By Over 100% Amidst Price Boom

MakerDAO (MKR) has navigated a tumultuous path in the Decentralized Finance (DeFi) market since June, marked by regulatory pressures and various challenges numerous projects face. Nonetheless, a shift in focus has occurred as altcoins, spearheaded by MKR, appear to overshadow this turbulence. Presently, the value of MKR on CoinGecko stands at $1,346, showing a noteworthy 9.1% [...]

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