Recent revelations from Spotonchain indicate that MakerDAO’s governance token, Maker (MKR), has experienced a fresh wave of accumulation. This accumulation, taking place in the final week of 2023, hints at a potentially bullish trajectory for MKR in the upcoming year, 2024.
According to Spotonchain’s latest indicators, a group of five new whales has been actively accumulating 23,891 MKR (equivalent to $38.1 million) from platforms such as Binance, Coinbase, and MEXC. This acquisition took place at an average price of $1,593 over the past ten days leading up to the recent surge.
MKR Whales In Massive Profits After These Accumulations
The collective floating gain for these whales now stands at approximately $5.28 million. This reflects a substantial 13.9% increase. This surge aligns with MKR reaching its yearly high in the last 24 hours. It hit $1,906 with an impressive 13% gain today alone.
The data strongly suggests that the strategic accumulation by these prominent investors has played a role in the notable upswing of MKR’s value. The current market dynamics, coupled with the floating gains of these whales, indicate a positive momentum for MakerDAO’s MKR in the ongoing year.
In summary, Maker (MKR) has not only reached its annual peak but has done so following a strategic accumulation by influential investors. The data supports an optimistic outlook for MKR in 2024, buoyed by recent market movements and the actions of key stakeholders.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.