MKR, the native token of the MakerDAO ecosystem, is among the greatest performers within the cryptocurrency market following final week’s announcement.
MKR, the native token of the MakerDAO ecosystem, is outperforming a lot of the cash and tokens within the prime 100 listing. 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 shedding greater than 1% of its worth up to now 24 hours.
Bitcoin, the world’s largest cryptocurrency by market cap, may drop beneath the $19k help degree as it’s down by greater than 1% within the final 24 hours. Ether is down by greater than 2% to this point right this moment and is buying and selling beneath the $1,300 help degree.
MKR has added greater than 4% to its worth to this point right this moment, outperforming the opposite cash within the prime 100 listing. MKR has been performing properly over the previous few days as it’s up by greater than 12% within the final seven days.
Complete 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 a couple of days in the past that the whole delegated MKR is at an all-time excessive.
The staff mentioned 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 observe
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 constructive 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 degree for the primary time since August.
Nevertheless, it will want the help of the broader crypto market to maneuver previous the $844 resistance degree within the brief time period.
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