• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Tuesday, June 3, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Maker Enjoys 12% Price Increase Amid Crypto Slump, Whale Accumulation To Thank

Will Izuchukwu by Will Izuchukwu
August 31, 2023
in News
Reading Time: 2 mins read
0
Share on TwitterShare on Facebook

The price of Maker (MKR) has enjoyed a nice 12% increase today, bucking the trend of the broader cryptocurrency market, which is currently in a slump. This price increase can largely be attributed to the massive accumulation of MKR by whales and sharks.

Source: Santiment

Whale Accumulation

According to data from Santiment, a cryptocurrency analytical platform, whales and sharks have accumulated a total of 61.5K MKR since July 9th. These whales and sharks hold between $11.6K and $11.6M worth of MKR.

The accumulation of MKR by whales and sharks is a bullish sign for the future price of the token. Whales and sharks are typically seen as sophisticated investors who have a deep understanding of the market. Their accumulation of MKR suggests that they believe the token is undervalued and that it has the potential to appreciate in value in the future.

The recent price increase of MKR is also likely being driven by the overall positive sentiment surrounding the DeFi ecosystem. DeFi is a rapidly growing industry that is attracting a lot of attention from both retail and institutional investors. MKR is the native token of MakerDAO, the largest DeFi lending platform. As the DeFi ecosystem continues to grow, so too is the demand for MKR.

Final Thoughts

The accumulation of MKR by whales and sharks and the positive sentiment surrounding DeFi are both bullish factors for the future price of MKR. It is possible that the token could continue to appreciate in value in the coming months. However, it is important to note that the cryptocurrency market is volatile and that prices can fluctuate rapidly. Investors should always do their own research before investing in any cryptocurrency.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.

Follow us on Twitter @thevrsoldier to stay updated with the latest Metaverse, NFT, A.I., Cybersecurity, Supercomputer, and Cryptocurrency news!

Image Source: angrysun/123RF // Image Effects by Colorcinch

Tags: Maker MKRMKRWhaleWhale Accumulation
Previous Post

SEC Delays Decision On Bitcoin Spot ETF Applications, Crypto Market Falls: Accumulation Phase Or Not?

Next Post

Analyst Predicts Possible BTC at $22k; MATIC, QUBE, and LTC Show Strength Within Shaky Market

Related Posts

Binance Beats SEC—Crypto Cheers the Legal Victory
News

Binance Beats SEC—Crypto Cheers the Legal Victory

June 2, 2025
Cardano Tanks 50% From Highs—Hope or Hype Ahead
News

Cardano Tanks 50% From Highs—Hope or Hype Ahead

June 1, 2025
Solana Price Prediction:Is the $200 Dream Dead
News

Solana Price Prediction:Is the $200 Dream Dead?

May 31, 2025
Featured

Netflix Casts Leads for FTX Drama

May 30, 2025
Featured

Trump’s Meme Coin Dinner Under Investigation

May 29, 2025
Altseason Is Here—But Only for a Few Minutes
News

Altseason Is Here—But Only for a Few Minutes

May 28, 2025

Press Releases

Binance Beats SEC—Crypto Cheers the Legal Victory
News

Binance Beats SEC—Crypto Cheers the Legal Victory

by Alex Mercer
June 2, 2025

Introduction From courtroom drama to crypto karma, Binance is having a moment. The SEC has officially pulled the plug on...

Read more
Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

May 25, 2025
Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

May 23, 2025
Dogecoin’s Ready to Bark Again—Could $0.30 Be the Next Fetch?

Dogecoin Ready to Bark Again—Could $0.30 Be Next

May 20, 2025
Ethereum Climbs While PEPE Reloads—Who's About to Explode

Ethereum Climbs While PEPE Reloads—Who’s About to Explode?

May 18, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier