Maker

Bitcoin

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 <p>DAI stablecoin issuer <a rel="dofollow" title="Maker" href="https://thebittimes.com/tag/maker.html">Maker</a>DAO’s <a rel="dofollow" title="Maker" href="https://thebittimes.com/tag/maker.html">Maker</a> (MKR) token is green across all charts. The token has surged by 6.4% in the last 24 hours, by 10.8% in the last week, and by 46.7% over the previous month. Moreover, the asset has significantly outperformed the larger crypto market so far in 2023. Since January, MKR has risen by 193.37%, while Bitcoin (BTC) has risen by about 60%. The token is getting close to reaching its May highs of 2022.</p> 
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  <img decoding="async" src="https://cdn.thebittimes.com/images/2023/09/28/fd0f464db384326b69af680a4b12e190.webp" alt class="wp-image-113989" style="width: 100%;height:64px" width="700" height="64" srcset="https://cdn.thebittimes.com/images/2023/09/28/fd0f464db384326b69af680a4b12e190.webp 1024w, https://cdn.thebittimes.com/images/2023/09/28/fd0f464db384326b69af680a4b12e190.webp 300w, https://cdn.thebittimes.com/images/2023/09/28/fd0f464db384326b69af680a4b12e190.webp 768w, https://cdn.thebittimes.com/images/2023/09/28/fd0f464db384326b69af680a4b12e190.webp 1536w, https://cdn.thebittimes.com/images/2023/09/28/fd0f464db384326b69af680a4b12e190.webp 380w, https://cdn.thebittimes.com/images/2023/09/28/fd0f464db384326b69af680a4b12e190.webp 550w, https://cdn.thebittimes.com/images/2023/09/28/fd0f464db384326b69af680a4b12e190.webp 800w, https://cdn.thebittimes.com/images/2023/09/28/fd0f464db384326b69af680a4b12e190.webp 1160w, https://cdn.thebittimes.com/images/2023/09/28/fd0f464db384326b69af680a4b12e190.webp 1630w" sizes="(max-width: 700px) 100vw, 700px">
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   Source: CoinGecko
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 <p><a rel="dofollow" title="Maker" href="https://thebittimes.com/tag/maker.html">Maker</a>’s (MKR) recent surge comes amid <a rel="dofollow" title="Maker" href="https://thebittimes.com/tag/maker.html">Maker</a>DAO investing its reserve assets in U.S. treasuries, benefiting from the high yield in the traditional bond market. Since the beginning of 2023, the protocol’s revenue has quadrupled to $185 million. Meanwhile, annual profit jumped from $21.8 million to $64 million.</p> 
 <p><strong>Also Read: <a rel="dofollow" title="Maker" href="https://thebittimes.com/tag/maker.html">Maker</a>DAO co-founder dies at 29, a Day after this Tweet</strong></p> 
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  <img decoding="async" width="1024" height="362" src="https://cdn.thebittimes.com/images/2023/09/28/e3a7e2fcdf0812816cf7a764740dbb93.webp" alt class="wp-image-113996" srcset="https://cdn.thebittimes.com/images/2023/09/28/e3a7e2fcdf0812816cf7a764740dbb93.webp 1024w, https://cdn.thebittimes.com/images/2023/09/28/e3a7e2fcdf0812816cf7a764740dbb93.webp 300w, https://cdn.thebittimes.com/images/2023/09/28/e3a7e2fcdf0812816cf7a764740dbb93.webp 768w, https://cdn.thebittimes.com/images/2023/09/28/e3a7e2fcdf0812816cf7a764740dbb93.webp 1536w, https://cdn.thebittimes.com/images/2023/09/28/e3a7e2fcdf0812816cf7a764740dbb93.webp 380w, https://cdn.thebittimes.com/images/2023/09/28/e3a7e2fcdf0812816cf7a764740dbb93.webp 550w, https://cdn.thebittimes.com/images/2023/09/28/e3a7e2fcdf0812816cf7a764740dbb93.webp 800w, https://cdn.thebittimes.com/images/2023/09/28/e3a7e2fcdf0812816cf7a764740dbb93.webp 1160w, https://cdn.thebittimes.com/images/2023/09/28/e3a7e2fcdf0812816cf7a764740dbb93.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: MakerBurn
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 <p>Furthermore, <a rel="dofollow" title="Maker" href="https://thebittimes.com/tag/maker.html">Maker</a>DAO’s DAI stablecoin supply has increased by $1 billion since early August. This is most likely due to the firm’s 5% reward for DAI, in order to increase demand.</p> 
 <h3 class="wp-block-heading" id="h-will-maker-mkr-continue-to-rally">Will Maker (MKR) continue to rally?</h3> 
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   <img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/09/28/a49c363da7e54f4bd2ea580fe90e9c42.webp" alt="Maker" class="wp-image-34071" srcset="https://cdn.thebittimes.com/images/2023/09/28/a49c363da7e54f4bd2ea580fe90e9c42.webp 1024w, https://cdn.thebittimes.com/images/2023/09/28/a49c363da7e54f4bd2ea580fe90e9c42.webp 300w, https://cdn.thebittimes.com/images/2023/09/28/a49c363da7e54f4bd2ea580fe90e9c42.webp 768w, https://cdn.thebittimes.com/images/2023/09/28/a49c363da7e54f4bd2ea580fe90e9c42.webp 380w, https://cdn.thebittimes.com/images/2023/09/28/a49c363da7e54f4bd2ea580fe90e9c42.webp 550w, https://cdn.thebittimes.com/images/2023/09/28/a49c363da7e54f4bd2ea580fe90e9c42.webp 800w, https://cdn.thebittimes.com/images/2023/09/28/a49c363da7e54f4bd2ea580fe90e9c42.webp 1080w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <p>According to crypto hedge fund&nbsp;Ouroboros Capital, the rally could continue due to rising DAI supply and revenues. The firm predicted the MKR would reach the $1,600 price target. This is a 6.31% growth from current price levels.</p> 
 <p>However, there are other developing factors that could hamper MKR’s streak. As per the data on CoinGlass, MKR’s exchange balance has been growing of late. Notably, <a rel="dofollow" title="Maker" href="https://thebittimes.com/tag/maker.html">Maker</a>’s (MKR) exchange balance has jumped 5% in the past 24 hours. This could mean that investors are lining up to sell the token, and hence the price could face volatile swings soon.</p> 
 <p><strong>Also Read: Coinbase Announces Suspension of USDT, DAI, and RAI for Canadian Users</strong></p> 
 <p>Crypto analysis firm Santiment also noted the increase in MKR’s exchange balance. The firm said that the move to exchanges <strong>“is something to be cautious of for at least a temporary local top.”</strong></p> 
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    <p lang="en" dir="ltr">📈 #Maker's price has now surged +40% in the past 16 days with its active addresses hitting a 10-week high in tandem with the asset crossing $1,500. An inflow of $MKR moving to exchanges is something to be cautious of for at least a temporary local top. https://t.co/oFeijYNZCO pic.twitter.com/rStBGX6TdM</p> 
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    </div> — Santiment (@santimentfeed) September 28, 2023
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  <li>Maker</li>
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/maker-token-mkr-price-surges-46-but-may-face-volatility-tbt64297.html">https://thebittimes.com/maker-token-mkr-price-surges-46-but-may-face-volatility-tbt64297.html</a></p>

Maker Token: MKR Price Surges 46%, But May Face Volatility

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