maker [MKR]: As one of the rare alts in Green, you need to know the following.


The ‘Friday the 13th’ cryptocurrency market was slowly recovering from the horrors of the previous day when Bitcoin fell below $27,000. However, most of the top 100 coins and tokens were still in the red at the time of reporting. One of the few assets that was still green was the Maker. [MKR] – It is the 43rd largest cipher at the time of this writing, but this is subject to change at any time.

What is happening and why is this happening? Here’s what you need to know.

Time to meet your Creator

At the time of the report, MKR $1,463.95 It was up 28.03% last week and up 9.07% last week. To better understand what traders are doing, let’s look at volume. This was negligible compared to the spikes in late 2021 and early 2022, but it was nonetheless rising in press time.

source: Santiment

So who is the culprit? Trophy if you thought there was a whale behind it. After all, according to Santiment data, on May 11th, there were more than 300 transactions worth more than $100,000. The last time MKR saw these figures was before the December 2021 crash.

Maker MKR 19.02.51 13 May 2022

source: Santiment

As expected, the MKR price has been thrown into chaos as macro events mingled with the actions of such influential investors. But the data shows that whales didn’t just buy dips. A glance at the exchange’s MKR supply reveals that the number of tokens returning since May 10th is surging. As it is estimated that thousands of tokens have been sold, the price of MKR must have taken a hit as well.

Maker MKR 19.06.12 13 May 2022

source: Santiment

Do you have time to make money?

It’s not that easy. It is difficult to predict whether the price of MKR will rise or fall due to the market conditions at the time of the press release. For example, the relative volatility index [RVI] The value was below 50, suggesting that additional volatility could lower the price of MKR. However, the RVI value was heading towards 50 and two green candles formed at press time. Both of these are bullish signals.

Nevertheless, it seems that the bulls and bears will have to wait for the whales to finish their prey to better understand the scene.

MKRUSD 2022 05 13 18 20 37

Source: TradingView

Leave a Comment