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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.
MakerDAO's Spark Protocol saw a lot of progress. The overall DAI supplied declined as MKR's price fell.
The transactions of ‘whales' – large-scale investors – often set the tone for market trends. So far, recent on-chain data from Lookonchain, a renowned on-chain analytics platform, has unveiled a notable accumulation pattern in four specific altcoins.
Projects are rethinking how to make DAOs more fun and less disappointing.
Story Highlights The live Price of Maker Dao is . Maker price could surge as high as $1,831.61 by the end of 2023. With a potential surge, MKR's price could reach $4,391.63 by the end of 2030. Decentralized technologies are getting prioritized as they enhance privacy and user security.
The number of DAI transactions has increased. But there were some concerns.
Thursday, November 16, 2023, marks a steady phase in the crypto economy, maintaining a value of $1.4 trillion with a modest increase of 0.44% in the last 24 hours. Concurrently, despite the seven-day downturn experienced by both bitcoin and ethereum this week, a notable 39 cryptocurrencies have achieved double-digit growth.
Maker (MKR) price has declined by 17% since the crypto market rally began around Oct. 23. On-chain analysis uncovers the main MRK price is declining against the positive run of play in the broader crypto markets.
October was a decisively bullish month for the cryptocurrency market, but these three bearish cryptos face a negative outlook for November.
MakerDAO (CRYPTO: DAI) transferred $250 million, half of the $500 million it holds, from its Coinbase (NASDAQ: COIN) custody account to DAI's peg stability module (PSM). The goal is to protect the peg for its DAI stablecoin, as reported by Blockworks.
Maker (MKR) is currently on a bullish trend, with its price reaching $1447, despite experiencing a daily decrease of 4.4%. Over the past week, Maker's value has risen by 1.34%.
The collateral backing the DAI stablecoin's peg dipped below intended levels — and it took multiple days to deploy backup funds
Whales begin to sell their whale holdings as MKR's price begins to decline. However, no large trend was established by MKR's price movement over the course of last month.
Maker Protocol's token MKR has seen a surge in supply across crypto exchanges. Meanwhile, trading firm FalconX contributed to the increase after sending coins worth around $13 million to Binance and OKX within the last seven days. Generally, cryptocurrencies mirror reserve surge with a price dip.
MakerDAO introduces the Smart Burn Engine (SBE) to reduce MKR supply and enhance sustainability.
