The price of the maker (MKR) was more than 44% in the last week. The defi tokens also remain stable as large wallet investors and whales, which are holding MKR, who take profits in the ongoing price hike. On-chains and technical indicators support further benefits in the manufacturer.
Manufacturer derivatives and on-chant analysis
The Sky Protocol (formerly manufacturer) (MKR) MKR token has defined market trends in the last week. According to the price data of the crypto, the token obtained more than 44% value. Derivatives data and on-chain analysis supports a speeding thesis for the Defi tokens for next week.
Crypto intelligence platform co -operatives show a large positive spike in an open interest in MKR on 21 February. The spike represents a huge increase in the total value of open contracts in MKR in derivative exchanges.
Coinglass data suggests that MKR OI is $ 116.85 million at the time of writing on Friday, 21 February.
The total value of the assets closed in MKR rose to $ 5.675 billion, as seen in Defilama. This coincides with the rising price, relevance and demand for tokens among traders. Rebranding to Sky Protocol has proved to be effective for adoption among the participants of the market.
The Sentimen Data realized several negative spikes in the network in the MKR chart from mid -January 2025.
The frequent attainment of damage is usually considered a sign of capitulation and corresponds to a final recovery in the price of tokens. The daily active address of MKR recorded about three months peak this week, indicating an increase in interest from traders.
The supply of MKR tokens conducted by Whale (except for exchange wallets) has recovered from the decline noted in the first week of February. This is another rapid signal for Defee tokens.
In/out of money around the price indicator on Intotheblock suggests that 30% of the MKR wallet addresses are currently sitting at unrealistic losses. 65.55% of MKR token holders have unrealistic benefits in their portfolio.
The combination of money from the network with a combination of profit/loss metric is less likely, it is less likely that profitable traders take profits because the current trend is of capitulation. The possibility of further sales pressure on MKR is low for the next week, which means that the token can expand its profit and maintain the underlying positive speed.
Manufacturer (MKR) weekly value forecast
The maker got out of his downward trend on February 12, since then the token rally, this week increased the profit almost everyday. At the time of writing, MKR is trading at $ 1,473 on Friday.
The token is close to resistance at $ 1,632 and $ 2,050, two major levels in the trend of MKR between 26 October and 4 December, as seen in the daily value chart. In a state of improvement, MKR can get support at $ 1,125.
Two major technical indicators, moving average convergence deviation indicators and relative strength index rapid indication on daily time limit. The MACD continuously shows the green histogram bar above the neutral line and reads RSI 74 and is sloping upwards.
Whereas it usually produces a sales signal in terms of positive positive motion inherent in MKR, MACD and MKR price trend support.
A rally to test resistance at $ 1,632 marks approximately 15% rally in MKR value.
Even the whale caches his MKR holdings amidst price hike, they fail to negatively affect prices. However, it is a specialty of a token that if big institutions shed their holdings, the MKR price is stable.
A wallet address, identified as Inveteratus.eth on the blockchain, sold 1,230 MKR priced 1.78 million USDC and earned a 30% profit of $ 418,000 in less than a month.
On-chain data suggests that in April 2024, Whale took advantage of $ 1.86 million from previous MKR trades. The cumulative advantage of the whale through MKR trades is $ 2.27 million.
MKR Dow is stable between drama
The drama around the Sky Protocol (Maker DAO) is being identified as a “possible governance attack”, according to the community on X.
A long -time manufacturer community member @Imriymiumpapper expressed dissatisfaction over a fast -tracked governance proposal, which asked to ban lending against MKR, a governance of the Sky Protocol series.
As the community argues on the proposal, one side argues that it will include a credit line for the “fixed process bypassing the fixed process” and in the effects “> 2x the credit line for MKR token holders, making their LTVs 50 to 50 Increase from% to 80%. “
While the Dao drama comes out, the token continues its rally.
Maker token $ 17 million burnt, support benefits
The second market proposer for MKR this week is $ 17 million token burn, which has been identified on blockchain. When a large amount of tokens are burnt, they are permanently removed from the supply, and they reduce sales pressure, support the price profit.
Whale Alert: A tracker identified the 14,000 MKR token burn $ 16.9 million, which adds to the catalyst that increases the price of this week.
At the time of writing, MKR trades at $ 1,432 on Friday.
Disclosure: This article does not represent investment advice. The materials and materials painted on this page are only for educational purposes.
