MKR, the native token of the MakerDAO ecosystem, is without doubt one of the greatest performers within the cryptocurrency market following final week’s announcement.
MKR, the native token of the MakerDAO ecosystem, is outperforming many of the cash and tokens within the prime 100 checklist. The token has added greater than 1% to its worth within the final 24 hours, outperforming the broader crypto market.
The whole crypto market cap stays above $900 billion regardless of dropping greater than 1% of its worth previously 24 hours.
Bitcoin, the world’s largest cryptocurrency by market cap, may drop beneath the $19k assist stage as it’s down by greater than 1% within the final 24 hours. Ether is down by greater than 2% thus far right this moment and is buying and selling beneath the $1,300 assist stage.
MKR has added greater than 4% to its worth thus far right this moment, outperforming the opposite cash within the prime 100 checklist. MKR has been performing properly over the previous few days as it’s up by greater than 12% within the final seven days.
Whole delegated MKR is at an all-time excessive!
There are actually 142.67k MKR delegated to 23 Acknowledged Delegates and 92 Shadow Delegates, and a complete of 187.83k MKR locked into the Maker Governance contract. pic.twitter.com/yxjmi36NBI
— Maker (@MakerDAO) September 29, 2022
The rally comes after MakerDAO introduced just a few days in the past that the whole delegated MKR is at an all-time excessive.
The workforce stated there are actually 142.67k MKR delegated to 23 Acknowledged Delegates and 92 Shadow Delegates, and a complete of 187.83k MKR locked into the Maker Governance contract.
Key ranges to look at
The MKR/USD 4-hour chart is bullish as MKR has been performing properly over the previous few days.
The 14-day RSI of 60 reveals that MKR may enter the overbought area if MakerDAO sustains its optimistic momentum. The MACD line stays above the impartial zone, indicating bullish momentum.
At press time, MKR is buying and selling at $773 per coin. If the bulls stay in management, MKR may surge previous the $811 resistance stage for the primary time since August.
Nonetheless, it could want the assist of the broader crypto market to maneuver previous the $844 resistance stage within the quick time period.
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