{"id":345292,"date":"2023-09-21T19:00:16","date_gmt":"2023-09-21T13:30:16","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=345292"},"modified":"2023-09-21T15:33:00","modified_gmt":"2023-09-21T10:03:00","slug":"makerdao-soars-to-yearly-highs-whats-behind-this-surge","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/makerdao-soars-to-yearly-highs-whats-behind-this-surge\/","title":{"rendered":"MakerDAO soars to yearly highs: What&#8217;s behind this surge?"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Three whales have accumulated over 4,000 MKR so far in September.<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">MKR added over 8% to its price in two days.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">MakerDAO [MKR] recently decoupled from the broader market, having experienced significant accumulation by whales. Are these two notable developments independent in themselves, or is there more than what meets the eye?<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">How much are 1,10,100 MKRs worth today?<\/p>\n<hr \/>\n<h4><b>MKR hits its highest price range in 2023<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">MKR has shown remarkable price movements in its daily timeframe. The chart below instanced that, at press time, MKR had reached its highest price level of the year thus far. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Between 19 and 20 September, there was a notable price surge of over 8%, propelling it to approximately $1,347. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, as of this writing, MKR was trading with a slight price decrease of around 1%, hovering around $1,300. Despite this decline, it continued to trade within the highest price range of the year.<\/span><\/p>\n<figure id=\"attachment_345333\" aria-describedby=\"caption-attachment-345333\" style=\"width: 1374px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKRUSDT_2023-09-21_09-11-43.png\"><img decoding=\"async\" class=\"wp-image-345333 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKRUSDT_2023-09-21_09-11-43.png\" alt=\"MakerDAO (MKR) price trend \" width=\"1374\" height=\"707\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKRUSDT_2023-09-21_09-11-43.png 1374w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKRUSDT_2023-09-21_09-11-43-300x154.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKRUSDT_2023-09-21_09-11-43-1024x527.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/MKRUSDT_2023-09-21_09-11-43-768x395.png 768w\" sizes=\"(max-width: 1374px) 100vw, 1374px\" \/><\/a><figcaption id=\"caption-attachment-345333\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Furthermore, the upward trend in price pushed the Relative Strength Index (RSI) into slightly overbought territory. However, the recent price dip caused the RSI to drop just below that zone at press time. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regardless of this drop, MKR remained firmly in a strong bull trend.<\/span><\/p>\n<h4><b>MakerDao sees a surge in volume<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">While the volume observed recently for <a href=\"http:\/\/ambcrypto.com\/how-makerdao-flourished-amid-a-market-lull\/\" target=\"_blank\" rel=\"noopener\">MakerDAO<\/a> is not the highest seen within the month, there has been a noticeable increase. This increase in volume commenced around 18 September, when the volume was approximately $65 million. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of writing, the volume has surpassed $100 million. An upward trend in volume seems to be emerging, and it may continue as the trading day progresses.<\/span><\/p>\n<figure id=\"attachment_345334\" aria-describedby=\"caption-attachment-345334\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Maker-MKR-10.22.33-21-Sep-2023.png\"><img decoding=\"async\" class=\"wp-image-345334 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Maker-MKR-10.22.33-21-Sep-2023.png\" alt=\"Maker volume\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Maker-MKR-10.22.33-21-Sep-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Maker-MKR-10.22.33-21-Sep-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Maker-MKR-10.22.33-21-Sep-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Maker-MKR-10.22.33-21-Sep-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Maker-MKR-10.22.33-21-Sep-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Maker-MKR-10.22.33-21-Sep-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-345334\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<h4><b>Whales pile up more MKR<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Alongside the surge in both volume and price, there has been a noticeable increase in the accumulation of <a href=\"http:\/\/ambcrypto.com\/how-makerdao-stands-to-generate-millions-in-2023\/\" target=\"_blank\" rel=\"noopener\">MakerDAO<\/a>. According to data from <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1704508917475065901?t=Cq3fLE0tVcvSrcJGQ9eUiw&amp;s=19\" target=\"_blank\" rel=\"noopener\">Lookonchain<\/a>, three prominent investors, often referred to as whales, have been steadily accumulating MKR over several weeks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The data revealed that one whale began accumulating the token around 4 September and has invested 1,194 ETH, which was valued at over $1.9 million, to acquire 1,700 MKR. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a similar vein, another whale initiated their accumulation activities on 18 September, expending 992 ETH, equivalent to more than $1.6 million, to acquire 1,261 MKR. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Lastly, a third whale commenced accumulating on 12 September and spent 1,218 ETH, valued at over $1.9 million, to amass 1,683 MKR.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Realistic or not, here&#8217;s <a href=\"http:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\">MKR&#8217;s market cap in BTC&#8217;s terms<\/a><\/p>\n<hr \/>\n<h4><b>MakerDAO\u2019s active addresses spike<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Data from CryptoQuant indicated a recent surge in the number of active addresses associated with <a href=\"http:\/\/ambcrypto.com\/solanas-role-in-makerdaos-newchain-sparks-controversy\/\" target=\"_blank\" rel=\"noopener\">MakerDAO<\/a>. The chart below showed that as of 20 September, the number of active addresses had surged to over 600. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">What stood out about this spike was that it represented the highest number observed in the past month. This observation suggested that the increase in activity extended beyond just whale participation; a growing number of addresses were becoming active in the MakerDAO ecosystem.<\/span><\/p>\n<figure id=\"attachment_345336\" aria-describedby=\"caption-attachment-345336\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Maker-Active-Addresses.png\"><img decoding=\"async\" class=\"wp-image-345336 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Maker-Active-Addresses.png\" alt=\"Maker active addresses\" width=\"2560\" height=\"1612\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Maker-Active-Addresses.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Maker-Active-Addresses-300x189.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Maker-Active-Addresses-1024x645.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Maker-Active-Addresses-768x484.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Maker-Active-Addresses-1536x967.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/09\/Maker-Active-Addresses-2048x1290.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-345336\" class=\"wp-caption-text\">Source: CryptoQuant<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>MKR breaks yearly records, with whales accumulating and active addresses surging, signaling a dynamic shift in MakerDAO&#8217;s landscape.<\/p>\n","protected":false},"author":76,"featured_media":345342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[187],"class_list":["post-345292","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view","tag-makerdao"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>MakerDAO soars to yearly highs: What&#039;s behind this surge? 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