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a16z deposits more MKR to Coinbase, now holding $6M in MKR. An unidentified whale also moved $4.85M MKR to Binance.

In the past week, Maker (MKR) token has captured significant attention in the crypto market, surging an impressive 26%. This remarkable price action coincides with the introduction of a groundbreaking token buyback program by the leading decentralized finance (DeFi) lending platform, MakerDAO.

A $2 million loan unfortunately fell into the default category, leaving MakerDAO in an unexpected situation. What happened to MakerDAO?

The lending platform is on track to remove some $7 million of MKR governance tokens from the market in a month, according to blockchain data.

In a surprising turn of events, the Maker (MKR) token, widely recognized for its role in the MakerDAO and Maker Protocol, has experienced a dramatic 20% surge in its value. This unexpected rally has caught the attention of the crypto community and industry experts alike, who are eager to decipher the driving forces behind this remarkable price increase.

Despite a recent market dip, Maker (MKR) price surges amid large transactions, sparking speculation of another potential skyrocketing trend.

The Maker (MKR) price has been on a tear since the beginning of June, reaching a new yearly high of $1,250 on July 21.

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.

In the world of cryptocurrency, anticipation is building as numerous experts confidently predict that the crypto market is poised to enter a bullish cycle. Following a challenging bear phase at the beginning of the year, signs of recovery have emerged, bolstered by improving macroeconomic conditions.

BeInCrypto looks at five altcoins that increased the most in this week's crypto market, specifically from July 14 to 21.

Maker (MKR), the governance token of the MakerDAO and Maker Protocol, witnessed a sudden surge in price, rocketing by approximately 20%. This dramatic shift in value has been primarily attributed to the recent activities of venture capital firm Andreessen Horowitz (a16z) and CMS Holdings.

The embattled Harbour Trade credit pool minted $1.5 million of DAI stablecoin secured with loans to a consumer electronics firm, which defaulted on $2.1 million of debt.

Maker loses its position to Aave as the second-largest DeFi project in terms of TVL.

Key Points: According to Ember, MakerDAO Lianchuang Rune has been actively acquiring MKR coins since November 2022, resulting in a significant accumulation of holdings. The monitoring data reveals that the two addresses associated with MKR Lianchuang Rune currently possess a combined total of 123,893 MKR coins, equivalent to approximately $122 million USD.

BTC price is back in its range, potentially given opportunities for UNI, ARB, AAVE and MKR to move higher.

MakerDAO witnesses massive amounts of interest in DAI due to whale behavior. The revenue generated by the protocol sees growth due to the success of RWAs.

In a recent tweet by renowned chain analyst Ember Yu, venture capital firm a16z made a significant transfer of 6,432 MKR tokens to Coinbase.

MakerDAO benefits from LSD sectors as dominance of wstETH on the protocol begins to rise. MKR sees growth as price and velocity begin to surge.

BeInCrypto looks at five altcoins that increased the most in this week's crypto market, specifically from June 30 to July 7.

MKR could be considered as one of the best performing cryptocurrencies especially considering its performance in the last seven days. Additionally, whales were seen buying the token too, which negated any chances of a price correction in the near future.

Veteran DeFi altcoin MKR, a core native cryptocurrency of the MakerDAO ecosystem, is among the best performers in the last month. Regulatory pressure and market uncertainty failed to stop its marvelous 95% rally in the last four weeks.

Amid the bullish momentum, some assets have towered over others as they look to recoup previous losses.

Amid the bullish momentum, some assets have towered over others as they look to recoup previous losses.

Bitcoin Cash and Litecoin continue to lose momentum, as both are down by over 3% for a second consecutive day.