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Maker is making waves as it enters Coingecko's top gainers list this week with massive bullish pressure on the market. MKR is up nearly 34% in the bi-weekly timeframe, but long-term investors are enjoying bigger rewards as the token is up 205% year-to-date, and currently trading a little above $1,800.
An early crypto whale that was formerly dormant has suddenly revived to make its first move in years.
The SEC's decision on the spot Bitcoin ETF applications could impact altcoins like ICP, ARB, STX and MKR.
Santiment has pointed out the altcoins that are currently observing a signal that has often accompanied market cap growth in the past.
The starting point of 2024 has a positive outlook for the Maker (MKR) coin, suggesting that the year may be productive. Activity has increased, according to on-chain data, indicating a potential positive trend.
Since the year began, Maker has witnessed a growth in daily active addresses and new demand for the token.
Wednesday's crypto market sell-off sent Bitcoin and most altcoins tumbling, with losses exceeding double digits. Bitcoin price plunged to $40,000 after brushing shoulders with $46,000, while Ethereum, after reaching $2,400, fell back to test support at $2,100.
Crypto Price Prediction: The crypto market witnessed a sudden sell-off during the early hours of December 3rd. The Top two leading coins Bitcoin and Ethereum showcased a 6% and 6.87% dip evaporating the gains justified in the first two days of 2024.
Accumulation of Maker (MKR) tokens has surged in the past week, with three new wallets purchasing $18.6 million worth of MKR. This significant acquisition signals growing interest in MakerDAO's governance token.
MakerDAO is among the most prominent protocols within the decentralized finance sector. The crypto project has attracted wealthy investors amid massive growth forecasts in the upcoming year. Lookonchain shows three fresh whales purchased MKR tokens consistently over the past week. These investors scooped assets worth around $18.6 million (11,610 MakerDAO coins) from exchange Binance.
MKR experiences a notable surge in interest, potentially spurred by rising whale engagement.
MakerDAO has dominated the decentralized finance (DeFi) industry for a while, with its stablecoin DAi and native coin MKR keeping the project afloat. Meanwhile, crypto intelligence network Messari trusts the company will generate substantial returns in 2024.
Fresh wallets have started to accumulate LINK and MKR in hopes of a price uptick.
The data from on-chain analytical platforms suggests that the whales have their eyes on two altcoins, namely Chainlink (LINK) and Maker (MKR).
The LINK and MKR tokens promptly curated a torrent of speculative buzz across the broader crypto market on Wednesday following significant whale accumulations orbiting these tokens. Notably, on-chain data surfacing in the market today showcased fresh whale wallets participating in these accumulations.
MakerDAO is the most successful DeFi protocol in 2023 in terms of revenue.
MKR witnesses increased whale accumulation as new addresses find their way to DAI.
The total value locked (TVL) in the decentralized finance (DeFi) ecosystem recently surpassed $50 billion, considering multiple projects. Notably, this has made DeFi more valuable than countries' economies like Uganda regarding their GDP.
BlockTower Capital sold a large share of its MKR. The overall price of MKR declined, but MakerDAO saw growth.
MKR/USDT chart and technical analysis Maker-DAO recovered about 25% in the last couple of weeks after it made a correction and retraced to the 1,250 support area from 1,650. Price recovered efficiently and will possibly continue its bullish trend in the coming weeks.
Whale 0x8a1 has caught the attention of digital assets players due to its notable Maker (MKR) transactions. The addresses sent MKR tokens worth $6.91 million (4,500 coins) to FalconX at $1,536 per coin (early on Thursday). Meanwhile, the transfer shows a strategic move with notable financial effects.
MakerDAO saw an uptick in weekly revenue. MKR continued to combat low demand.
No other protocol has come close to Lido's TVL numbers. The project is being touted as the future of DeFi.
MakerDAO protocol flourishes despite market challenges. Meanwhile, increased user activity and the success of the money market spark protocol has contributed to its continued growth. Spark protocol is a DAI-focused money market network that collects liquidity from MakerDAO. The latest stats indicated that spark protocol dominated the lending market last month.
