AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
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.
The whale actions have catalyzed speculation of potential effects on MKR price dynamics in the near term and the project’s longer-term success.
Meanwhile, evaluating broader network indicators revealed a subtler picture. MKR recorded surged volatility despite declining network growth, showing diminished attention from new investors.
Increased velocity amid significant transactions highlights amplified activity within the MKR ecosystem.
MKR price
The altcoin maintained a bullish outlook during this publication. MKR jumped 4.99% in the past 24 hours to hover at $1,590.58. It recorded upticks in the past seven days, around 12% on its weekly price chart.
Flipping the value area at $1,566 into dependable support might catalyze massive price surges for MKR.
The increasing interest in MakerDAO likely drove the price trend. Market players are keenly watching the blockchain and its native MKR.
MakerDAO’s future
The project has attracted many due to its massive profitability potential in the upcoming year. As reported here, Messari’s latest crypto thesis report shows MakerDAO could yield $105 million in returns in 2024. That would see MKR prices soaring to new all-time peaks.
The post Whales accumulate MakerDAO’s MKR amid bullish forecasts appeared first on Invezz
