.asxn_r: Maker $MKR rocketing thanks to these three reasons MakerDAO MKR
First, the accumulation can be attributed to decent spike in Maker fees. In recent days, the protocol smashed through its $315,000 daily fees milestone.
The upsurge in the MKR price might be explained by the protocol's tokenomic transition. In accordance with its"Smart Burn Engine Launch" governance proposal, Maker is transitioning from a buy and burn model to more advanced one.Last but not least, MKR has rallied amid the unseen spike in popularity of Spark, a decentralized lending platform having a credit line from Maker via its Dai Direct Deposit Module .
The token started rallying on June 30, 2023. In less then seven days, its price spiked from $685 to $1,072.$17.7 milion in MKR accumulated by large whales The experts on the ASXN team noticed that the accumulation of MKR was organized by a few whales' wallets. Newly created addresses, they received large MKR transactions from either Coinbase or Coinbase Prime.By press time, the MKR price had slightly retraced. The altcoin is changing hands at $993, trying to protect the crucial level of $1,000. Its recent upsurge pushed the token's price to levels unseen since amid-October 2022.
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