Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ALTCOIN NEWS»MKR Price Surges After Grayscale’s Bold MakerDAO Bet
ALTCOIN NEWS

MKR Price Surges After Grayscale’s Bold MakerDAO Bet

By Crypto FlexsAugust 15, 20244 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
MKR Price Surges After Grayscale’s Bold MakerDAO Bet
Share
Facebook Twitter LinkedIn Pinterest Email

The price of Maker (MKR), the governance token of the MakerDAO protocol, has increased by 7.47% in the last 24 hours. This increase comes after Grayscale announced the launch of the MakerDAO Investment Trust on Tuesday.

Since this disclosure, Maker has also experienced other positive changes, which we will discuss in this analysis.

New Investment Vehicle Brings a Buzz to MakerDAO

On August 13, major cryptocurrency asset manager Grayscale announced the launch of MakerDAO Trust. This is the second consecutive launch in a matter of days, following its investment in two other altcoins last week.

According to the company, the trust will provide investors with exposure to MKR. Additionally, investors will have access to the on-chain credit protocol and Real-World Assets (RWA) provided by the MakerDAO ecosystem.

But MKR’s price isn’t the only metric being affected by the developments. Santiment’s on-chain data shows a noticeable increase in active addresses on the network.

Read more: What are Tokenized Real Assets (RWAs)?

Maker Active Address. Source: Santiment

Active addresses measure the level of user engagement on the blockchain. As the metric increases, users are increasingly involved in sending and receiving tokens on the network. However, a decrease indicates a lack of buying and selling among cryptocurrency holders.

Therefore, the MKR price rally appears to be related to broader market interest, not just Grayscale investments. If sustained or improved, MKR’s price could benefit from this as the rally continues.

In addition, IntoTheBlock’s data shows that the number of short-term holders has increased. Specifically, looking at addresses by holding time, the number of addresses that have purchased tokens in the last 30 days has increased by double digits.

Typically, an increase in accumulation during this period indicates confidence in the short-term potential of the cryptocurrency. However, a decrease suggests the opposite.

Maker address based on holding time.
Maker Address by Holding Time. Source: IntoTheBlock

Therefore, the rise indicates an increase in buying pressure. Similar to the influence of the active addresses above, an increase in this number could be bullish for MKR.

MKR Price Prediction: Next Could Be $2,500

Before the MKR price recently bounced to $2,127, the token fell 38% to $1,716. At that point, MKR was oversold, according to the Relative Strength Index (RSI).

RSI measures momentum using the speed and magnitude of price changes. A reading above 70.00 indicates that the asset is overbought, while an RSI reading below 30.00 indicates that the asset is overbought.

On August 7th, the indicator was at 26.33. However, at the time of writing, it has risen to 44.07, which suggests that buyers are returning and increasing their purchases. If this continues, the price could go higher. To verify the bullish bias, the RSI needs to break above the neutral level of 50.00.

If this happens, MKR could break the resistance level located at $2,184.82. If this happens, the next level that the token could reach could be between $2,354.73 and $2,537.86.

Read more: Maker(MKR) Price Prediction 2023/2025/2030

Maker Daily Analysis.
Maker Daily Analysis. Source: TradingView

However, if the activity on the MakerDAO network decreases, invalidation may occur. It may also occur if the bulls pull back from the MKR dip buy. In this case, the price may fall back to $1991.46.

disclaimer

In accordance with the Trust Project guidelines, this price analysis article is provided for informational purposes only and should not be considered financial or investment advice. BeInCrypto strives to provide accurate and unbiased reporting, but market conditions are subject to change without prior notice. Always conduct your own research and consult with a professional before making any financial decisions. Please be advised that our Terms of Use, Privacy Policy and Disclaimer have been updated.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SEI tokens have soared more than 100% in June -the highest catalyst explained.

June 26, 2025

$ 438m XRP Transfer Sparks Panic- Ripple?

June 19, 2025

Solana Price Eyes 103% Rally $ 300: Here is the reason.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

Bitcoin price selling continues, but data highlights the need for a healthy correction.

December 12, 2023

According to Crypto Trader, here are three new altcoins that are likely to get ripped off in the next few weeks.

April 22, 2024

Montenegro’s Justice Minister signs Do Kwon’s extradition to the United States

December 28, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.