{"id":541066,"date":"2023-07-04T15:00:58","date_gmt":"2023-07-04T15:00:58","guid":{"rendered":"https:\/\/uniquehot.com\/?p=541066"},"modified":"2024-06-11T14:38:20","modified_gmt":"2024-06-11T14:38:20","slug":"maker-mkr-outperforms-top-coins-with-12-increase-a-day-will-it-test-1100","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/maker-mkr-outperforms-top-coins-with-12-increase-a-day-will-it-test-1100\/","title":{"rendered":"Maker (MKR) Outperforms Top Coins With 12% Increase A Day, Will It Test $1,100?"},"content":{"rendered":"
The past few days have favored altcoins with incredible gains. Among the soaring coins is MakerDAO\u2019s governance token Maker (MKR). <\/span>MKR witnessed impressive price performance in the last seven days, outpacing top cryptocurrencies with over a 48% price increase on the weekly top gainers’ chart.<\/span><\/p>\n CoinMarketCap <\/span>data<\/span><\/a> shows that Maker (MKR) price recorded a significant gain of 46.78% among top gainers over the past 30 days. <\/span>As of the time of writing, the token has recorded a 24-hour price increase of 12.96%.\u00a0<\/span><\/p>\n Maker\u2019s bullish price action attracted the attention of market participants after climbing to over $1,000 from a price of $677 recorded on June 28. <\/span>Although it recorded pullbacks here and there, <\/span>MKR price<\/span><\/a> still saw massive rallies within the past seven days.<\/span><\/p>\n Related Reading: USDC Circulating Supply Down 38% Since Jan. 1 \u2013 Will It Affect Price?<\/a><\/p>\n The token price experienced a slight dip after trading at $704 on June 25. However, it recovered momentum and rose from $677.88 on June 28 to $834 on June 30, a 21% increase from the June 28 opening price.\u00a0<\/span>Maker rode a consistent bullish wave to its current price of $1,032, with a 49% gain over the past seven days.\u00a0<\/span><\/p>\n Since the start of June, MKR has recorded two major price rallies. From July 1, MKR’s price surged 21%, rising above $830 from $687 on June 30. <\/span>MKR token\u2019s valuation increased by 8% in the early hours of July 3, bringing the price to $929.87, a 3-month high since March.\u00a0<\/span><\/p>\n The token\u2019s trading volume has also spiked, suggesting increased market activity and buying pressure. <\/span>At press time, Maker’s trading volume is at $117 million, with a 71.53% increase in the last day. Maker saw a sharp spike in trading volume from June 28. <\/span>The trading volume went from $25 million to $126 million on June 30 before dipping below $70 million.<\/span><\/p>\n However, data shows the bulls are back as the uptick in trading volume resumed on July 3 and now stands at $125 million.<\/span><\/p>\n Moreover, the overall protocol performance has improved. MakerDAO is in second place in <\/span>DefiLlama\u2019s protocol rankings<\/span><\/a>. It is trailing behind Lido with a TVL of $6.205 billion.\u00a0<\/span>The protocol recorded a 24-hour decline of 0.92% and a 1-month increase of 0.97%.<\/span><\/p>\nMaker\u2019s Price Movement in The Past Week<\/span><\/h2>\n