MKR Shows Enormous 20% Increase, This Is What Caused It

Maker (MKR), the governance token of the MakerDAO and Maker Protocol, witnessed a sudden surge in price, rocketing by approximately 20%. This dramatic shift in value has been primarily attributed to the recent activities of venture capital firm Andreessen Horowitz (a16z) and CMS Holdings.

Timeline of Maker

Key Points: According to Ember, MakerDAO Lianchuang Rune has been actively acquiring MKR coins since November 2022, resulting in a significant accumulation of holdings. The monitoring data reveals that the two addresses associated with MKR Lianchuang Rune currently possess a combined total of 123,893 MKR coins, equivalent to approximately $122 million USD.

MKR could be considered as one of the best performing cryptocurrencies especially considering its performance in the last seven days. Additionally, whales were seen buying the token too, which negated any chances of a price correction in the near future.

Veteran DeFi altcoin MKR, a core native cryptocurrency of the MakerDAO ecosystem, is among the best performers in the last month. Regulatory pressure and market uncertainty failed to stop its marvelous 95% rally in the last four weeks.

Over the course of seven days, Maker (MKR) has experienced remarkable growth, showcasing its potential as a lucrative investment opportunity. According to data from CoinMarketCap, MKR has recorded a significant gain of 30% in this timeframe, sparking much interest and optimism among its numerous traders and holders.

MakerDAO, a prominent decentralized finance (DeFi) platform, has made significant developments to reduce its reliance on USD Coin (USDC) as collateral for its stablecoin, DAI. The protocol has diversified its collateral by incorporating Real World Assets (RWA), such as short-term bonds, which now constitute a substantial portion of DAI collateral.

MakerDAO has purchased additional U.S. Treasury bonds worth $700 million. The decentralized finance (DeFi) protocol houses the DAI stablecoin. Meanwhile, the latest purchase saw DAO's total treasury bond balance hitting $1.2 billion. The move comes after the MakerDAO neighborhood voted to expand its United States Treasury bond value to $1.

MakerDAO has purchased a second batch of U.S. Treasury Bonds worth a whopping $700 million. The purchase of part of the DeFi lending protocol's attempts to diversify the assets backing its DAI stablecoin.

MakerDAO, the organization behind the DAI stablecoin, has purchased $700 million worth of U.S. Treasury bonds, bringing the DAO's total Treasury bond holdings to $1.2 billion. The MakerDAO community had already held the preliminary vote to increase its U.S. Treasury bond holdings from $500 million to $1.25 billion in March.

MakerDAO, the DeFi protocol whose team is responsible for the creation of the DAI stablecoin, recently announced the completion of its acquisition of an extra $700 million worth of US Treasurys.

Amidst the bloodbath present ravaging the majority of cryptocurrencies, Maker (MKR) has managed to maintain its value and shown positive momentum. This current performance is noteworthy and has triggered the interest of investors and market observers.