Maker (MKR) statistics show significant deposits, trades and accumulations made by major players in the crypto market.
In recent days, MakerDAO founder RuneKek has been involved in some notable trades, according to data from Spot on Chain. He acquired 1,613 MKR by trading a total of 1.61 million DAI, averaging $998.2 per MKR. Additionally, he withdrew 300.7 MKR and 305.8K DAI from the Uniswap liquidity pool, indicating a strategic move on his part.
Venture capital firm a16z reportedly transferred 1.5,000 MKR per day to Coinbase over the past four days at an average price of $970.35 (about $5.83 million). Additionally, the company has moved 6.9,000 MKR (worth $8.08 million) to a new wallet address, which warrants close monitoring of its activities.
The researchers also discovered that HoldingCms had accumulated 1,325 MKR from Binance and Bitget from June 26 to today, for an average of $799.5 per MKR (about $1.06 million). A timely move followed this build, where they deposited 525 MKR on Binance at $1,186, potentially making a profit of around $203,000 (ROI: 48.3%) if they actually sold.
In another notable event reported earlier by crypto.news, Justin Sun, the founder of the Tron network, made headlines with a large transfer of 6,802 MKR tokens to Binance. This transaction, valued at approximately $4.3 million, highlighted Sun’s involvement in the MKR market, attracting interest from crypto enthusiasts and speculators.
Maker (MKR) recently saw a 28% surge following the introduction of a token buyback program by MakerDAO, further boosting the appeal of the decentralized finance (DeFi) lender.
The buyback program has catalyzed increased confidence in MKR, attracting short-term traders and long-term investors to take advantage of the token’s bullish momentum.
Maker (MKR) is crucial in the Maker Protocol, facilitating the generation of DAI, a decentralized cryptocurrency pegged to USD. As a governance token, MKR holders influence protocol development and vote on proposals regarding the use of DAI.
Manufacturer Price Analysis (MKR)
As of this writing, Maker (MKR) is trading for $1,035.88, with a 24-hour trading volume of $75.3 million.
In the past 24 hours, MKR has seen a price drop of 6.1%. However, the bigger picture reveals a more positive trend as the MKR jumped 46.2% in the past 30 days.
This substantial increase can be attributed to factors such as the founder’s strategic buyouts and the introduction of the token buyback program by MakerDAO, which have boosted confidence in the asset.
On the daily timeframe, MKR is showing support at the $900 level, which could act as a price floor during any potential correction. Conversely, the closest resistance level on the daily time frame is $1,084. This could challenge MKR’s upward momentum in the near term.
With a circulating supply of 900,000 MKR tokens, the market capitalization of the cryptocurrency is $933.8 million, positioning Maker (MKR) as a significant player in the DeFi space.