Native token of the decentralized infrastructure and software services provider project Maker (MKR) has seen impressive growth recently.
As we reported as Koinfinans.com, the reason for this was analyzed by Santiment. According to the data, the number of active MKR addresses reached a 10-week high.
This data underscores the fact that although there are more addresses indicating that more users are entering the Maker ecosystem, those who already support the protocol are becoming much more active. Santiment also stated likethis situation altcoin It coincided with the period when the price jumped to $ 1,500.
📈 #Maker‘s price has now surged +40% in the past 16 days with its active addresses hitting a 10-week high in tandem with the asset crossing $1,500. An inflow of $MKR Moving to exchanges is something to be cautious of for at least a temporary local top. https://t.co/oFeijYNZCO pic.twitter.com/rStBGX6TdM
NEWS CONTINUES BELOW— Santiment (@santimentfeed) September 28, 2023
At the time of this writing, Maker is trading at $1,528, up 7.35% in the last 24 hours. This current growth rate is proof that the altcoin has not slowed its pace at all so far this month, as evidenced by the more than 14% gain it has recorded in the seven-day period to date.
Santiment believes investors should pay attention to stock market entries that could result in a large dump in the short term.
Maker has consistently stood out as one of the best performing tokens for several days. The token has been able to chart this growth curve in part by remaining innovative and opening up new uses for its supporters in some of the most important hubs such as South Korea.