Monday, December 4, 2023
HomeEthereumEthereum-Based Altcoin Soars 28% In Just One Week As Crypto Whales Dive...

Ethereum-Based Altcoin Soars 28% In Just One Week As Crypto Whales Dive In: Santiment

One decentralized finance (DeFi) altcoin has dramatically outperformed most of the crypto market in major market modifications.

Maker Cryptocurrency asset (MKR), the 52nd largest crypto asset by market capitalization, has risen by more than 28.5% in the last 7 days and is trading at $ 1,570 at the time of writing.

MKR is a governance token that supports DAI, a stablecoin that aims to be fixed to the US dollar one-on-one without a bank, government, or third party. Last week, as fellow stablecoin TerraUSD (UST) collapsed, DAI Mainly kept the peg intact. At the time of writing, it is trading at $ 1.00.

Cryptographic market stumbled upon news with key assets Bitcoin (BTC) Decreased by more than 2% in the past week, Ethereum (ETH) Reduced by almost 12%.

Cryptanalysis firm Santiment says Maker has witnessed major whale activity and a significant surge in transactions over $ 100,000 over the past few days. According to the company, the “major stakeholders” own the highest MKR supply ever.

Source: Santiment / Twitter

Data science company Into The Block Report An address that holds at least 0.1% of MKR’s total circulating supply and currently owns 85% of Maker’s total supply. The company adds that 39% of addresses lost money, while 51% of addresses made money from MKR holdings.

check Price action

Don’t miss the beat – apply To deliver encrypted email alerts directly to your inbox

follow me twitter, Facebook When telegram

Surf Daily Hoddle Mix

& Nbsp

Check the latest news headlines

Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors need to do due diligence before making risky investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfer and transaction is your own responsibility and any loss you may incur is your responsibility. Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets. Also, Daily Hodl is not an investment adviser. Please note that TheDailyHodl participates in affiliate marketing.

Featured images: Shutterstock / Natalia Siiatovskaia / Tithi Luadthong

- Advertisment -
Google search engine

Most Popular

Recent Comments