MKR prices have risen more than 40% since June 26, pushing its price above the $ 2,500 resistance mark. As the coin stood close to this critical resistance after testing it on June 30, speculation about whether the coin would see further gains was more visible.
A recent report highlights that MKR’s daily active addresses have surged 97% over the past week, along with a spike in unique address activity for other Defi tokens. He pointed to a new wave of demand for DeFi and that “the steady rise in targeted activity could be an early signal of growing confidence in the network and a possible ‘return to shape’ for the DeFi blue-chip.”
The report also says:
- AAVE’s daily active addresses are up 24.1% since Monday.
- MKR daily active addresses are up 97% since Monday.
- UNI’s daily active addresses are up 72.5% since Monday.
- Daily active COMP addresses are up 72.8% since Monday.
Shortly after this report, MKR was on the top performing coins list of the last 24 hours as it showed signs of growth. Interestingly, this is due to the release of the long-awaited full decentralization of the Maker protocol, which is in the process. Most recently, their curators conducted a voting governance survey on behalf of the MakerDAO Open Market Committee on June 28th.
At this point, while Maker looks promising in the marketplace, there are some key metrics to watch out for. For example, according to the Santiment report, the number of active addresses on the network has grown steadily. Likewise, it is predicted that if the viola surpasses the $ 2,500 level, there may be a surge in the influx of exchanges.
At the time of publication, MKR was trading at $ 2,272 and cash flows were up sharply by the end of June. In addition, the recent price rally has resulted in Bollinger Band divergence, indicating a broader range of asset prices.
In addition, the number of whale transactions is starting to rise. It is noteworthy that if you look at the previous times when the indicator grew, most of the time it coincided with the tops.
MKR is also seeing an increase in trading volume, which seems to indicate a growing interest in alt. However, these positive signs do not overshadow the fact that the asset fell 57.54% from its ATH, which was at $ 6,233.67. A short-term correction for Maker would not be too surprising given that the information flow curve was flattened.
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