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Decentralized Finance (DeFi) lending and borrowing platform Maker (MKR) has been performing exceptionally well in the past seven days, as its native token price witnessed a 22% surge, despite the downward trend observed in other major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). The positive price action of MKR has come amidst news of the failure of Silvergate Capital, which has caused a slump in the prices of Bitcoin and Ethereum.

BTC price is attempting to stage a recovery, while EOS, STX, IMX and MKR are beginning to flash bullish signals.

The governance token of MakerDAO, MKR, topped gains last week, adding 27%, trackers on Mar. 5 show.

As we enter the week of March 6, the cryptocurrency market has taken a downturn, with many assets experiencing corrections. The drop in momentum has been triggered by macroeconomic factors and liquidity concerns at digital asset-friendly Silvergate bank.

We have compiled a list of the top 5 cryptocurrencies of the week based on their performance over the last seven days. Let's take a look at it in more detail.

Leading decentralized finance (DeFi) protocol MakerDAO [MKR] has scheduled an 8 March date to offboard its redundant stablecoin vaults. This decision came after it obtained approval from members of the protocol's governance team to do the same.

MakerDAO [MKR] may have had one of its best-performing months in February, but that 40% 30-day surge only had a minimal impact on the token's long-term holders.

Crypto analytics firm Santiment is predicting price volatility for Cardano (ADA), Maker (MKR), and Fetch.ai (FET) after they have all soared this year. Santiment says an increase in whale activity on the three projects, smart contract platform ADA, stablecoin issuer MKR and machine learning blockchain FET, signals large price swings are forthcoming.

In the midst of an onslaught in the crypto market today, only one crypto made the biggest gain: Maker (MKR). At the time of writing, MKR was trading at $896, notching an impressive 21% increase in the weekly scale, and outperforming the rest of its rivals in the top 100 list of crypto market trackers Coingecko and CoinMarketCap.

Short sellers were forced to cover their bets on Maker [MKR] after the asset experienced a sudden and dramatic price increase. The MVRV has shifted position due to the recent pricing movement, making it overvalued.

The price of maker (MKR), the governance token of MakerDAO and Maker decentralized finance (DeFi) protocol, has increased by over 16% in the past seven days.

Most altcoins in the space, including the star crypto, Bitcoin, have been affected by the sluggish market behavior, as they are trading within a very narrow range. However, the altcoin market cap has been increasing since the beginning of 2023 and has entered the bullish range.

Maker Foundation's governance token, MKR, seems to be ignoring the evaporative bearish trend that hit almost all coins across the crypto market. Its gains over the past month and weeks show the asset means to beat all odds.

MakerDAO, one of the crypto world's oldest and largest DeFi protocols, has proposed a controversial change that would allow users to borrow its DAI stablecoin against its MKR governance token.

Maker's [MKR] rally could slow down as it faces key obstacles on its upward trajectory. The token hiked by 16% and 20% in the past 24 hours and seven days, respectively, according to CoinMarketCap.

Decentralized technologies are getting prioritized as they enhance privacy as well as the security of the users. MakerDAO is one of the prominent projects that has concentrated on the promotion of decentralized exchanges and stablecoins. Maker had showcased a splendid price rally by surging by a huge margin, in the recent past.

Veteran DeFi protocol MakerDAO dramatically lowered fees for its staking product based on RocketPool ETH (RETH) as global crypto community is getting closer to Shanghai upgrade mainnet activation.

Crypto Price Today Mar 1st: The market leader Bitcoin has been sideways for the first half of this week, creating a sense of uncertainty among market participants. However, despite this consolidation phase which limited growth in several crypto coins, a few have shown strong movement.

Leading DeFi platform MakerDAO [MKR] has proposed changes to some of its vaults, in a bid to better align them with risk and incentivize growth. This move comes as borrowing rates on MakerDAO and other DeFi platforms have risen in recent months due to market bullishness and the surge in risk appetite.

The rejection follows less than a year after Maker approved a similarly structured loan to Huntingdon Valley Bank.

According to data provided by lookonchain, it was observed that the co-founder of MakerDAO, Rune Christensen, bought MKR tokens while exiting his LDO positions.

Booming crypto whale activity in one altcoin built on Ethereum (ETH) is hinting at a major trend reversal, according to blockchain analytics firm Santiment. Santiment says that Maker (MKR), a well-established decentralized finance (DeFi) protocol that uses smart contracts to power stablecoin-based loans, has seen its largest whale transaction in more than three months.

MakerDAO's surprise proposal could allow borrowing DAI with MKR tokens. LUNA's demise taught big lessons.

MakerDAO co-founder has been making some notable transactions recently, selling Lido DAO tokens and buying MakerDAO tokens amid the rise of cryptocurrency volatility. According to reports, the co-founder sold around 18.8 million Lido DAO tokens for 27 million DAI, 7,553 MakerDAO tokens for $4.67 million, and 92 ETH, with the average selling price pegged at $1.68.