Maker

Flow

MN Coin

<ul>
 <li style="font-weight: 400;">There has been an uptick in MKR’s network activity.</li>
 <li style="font-weight: 400;">The token assessed on a weekly chart showed that it remains primed for further price rallies.&nbsp;</li>
</ul>
The year so far has seen a notable rise in the daily count of addresses executing trades involving the <a href="https://ambcrypto.com/search/mkr" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Maker [MKR]</a> token, on-chain data from<a href="https://app.santiment.net/charts/FXGUqRjz__sCl" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external"> Santiment</a> has shown.&nbsp;
As of 4th January, 610 addresses completed trades involving the altcoin, marking a 3% uptick from the 594 addresses recorded on 1st January.
While its daily active address count climbed, MKR also recorded a corresponding rally in its daily new demand. According to the data provider, the daily count of new addresses created to trade the alt has risen by almost 5% since the year began.&nbsp;
<div id="attachment_362144" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Maker-MKR-06.42.22-05-Jan-2024.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-362144" decoding="async" class="wp-image-362144 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Maker-MKR-06.42.22-05-Jan-2024.png" alt="" width="2560" height="867" srcset="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Maker-MKR-06.42.22-05-Jan-2024.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Maker-MKR-06.42.22-05-Jan-2024-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Maker-MKR-06.42.22-05-Jan-2024-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Maker-MKR-06.42.22-05-Jan-2024-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Maker-MKR-06.42.22-05-Jan-2024-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Maker-MKR-06.42.22-05-Jan-2024-2048x693.png 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 Source: Santiment
</div>
In a <a href="https://twitter.com/santimentfeed/status/1742999787790884872" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">post</a> on X (formerly Twitter), Santiment noted that the growth in an asset’s network activity is often “accompanied by market cap growth.” 
This has been the case for MKR, whose market capitalization and price have risen by 9% and 7%, respectively, in the past four days.
<div id="attachment_362145" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Maker-MKR-06.43.42-05-Jan-2024.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-362145" decoding="async" class="wp-image-362145 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Maker-MKR-06.43.42-05-Jan-2024.png" alt="" width="2560" height="867" srcset="https://statics.ambcrypto.com/wp-content/uploads/2024/01/Maker-MKR-06.43.42-05-Jan-2024.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Maker-MKR-06.43.42-05-Jan-2024-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Maker-MKR-06.43.42-05-Jan-2024-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Maker-MKR-06.43.42-05-Jan-2024-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Maker-MKR-06.43.42-05-Jan-2024-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/Maker-MKR-06.43.42-05-Jan-2024-2048x693.png 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 Source: Santiment
</div>
<h4>MKR on a weekly chart</h4>
At press time, the alt exchanged hands at $1,808, according to data from <a href="https://coinmarketcap.com/currencies/maker/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">CoinMarketCap</a>. Its price movements assessed on a 7-day chart revealed a steady demand for MKR and the continued presence of bullish sentiment in the market.
According to readings from its Directional Movement Index (DMI), its positive directional index (green) rested above the negative directional index (red) at press time. 
When these lines are positioned in this manner, it suggests that buying pressure is greater than selling pressure, indicating a potential upward trend.
The Average Directional Index (yellow), which confirms the strength of a market trend was spotted at 35.86 as of this writing. An ADX above 25 generally suggests a relatively strong trend, Hence, the MKR market is trending in a clear direction.&nbsp;
Further, key momentum indicators positioned near overbought regions at the time of writing signaled that buying activity outpaced token sell-offs. For example, MKR’s Relative Strength Index (RSI) was 71.46, while its Money Flow Index (MFI) was 68.50.&nbsp;
How much are&nbsp;<a href="https://ambcrypto.com/convert/1-mkr-to-usd" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">1,10,100 MKRs worth today</a>?
Likewise, the token’s Chaikin Money Flow (CMF) maintained an uptrend at press time and rested above the zero line. 
The CMF value of 0.08 confirmed the steady inflow of liquidity into the MKR market, a trend known to drive up an asset’s price further.&nbsp;&nbsp;
<div id="attachment_362146" style="width: 100%" class="wp-caption alignnone"><a href="https://statics.ambcrypto.com/wp-content/uploads/2024/01/MKRUSDT_2024-01-05_06-45-13.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-362146" decoding="async" class="size-full wp-image-362146" src="https://statics.ambcrypto.com/wp-content/uploads/2024/01/MKRUSDT_2024-01-05_06-45-13.png" alt="" width="2350" height="1286" srcset="https://statics.ambcrypto.com/wp-content/uploads/2024/01/MKRUSDT_2024-01-05_06-45-13.png 2350w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/MKRUSDT_2024-01-05_06-45-13-300x164.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/MKRUSDT_2024-01-05_06-45-13-1024x560.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/MKRUSDT_2024-01-05_06-45-13-768x420.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/MKRUSDT_2024-01-05_06-45-13-1536x841.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2024/01/MKRUSDT_2024-01-05_06-45-13-2048x1121.png 2048w" sizes="(max-width: 2350px) 100vw, 2350px"></a>
 Source: TradingView
</div>

Maker logs a spike in network activity – Can it boost MKR prices?

AMBCrypto

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