{"id":23208,"date":"2023-08-31T20:59:06","date_gmt":"2023-08-31T20:59:06","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/maker-mkr-price-jumps-amid-2-month-accumulation-spree\/"},"modified":"2023-08-31T20:59:06","modified_gmt":"2023-08-31T20:59:06","slug":"maker-mkr-price-jumps-amid-2-month-accumulation-spree","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/maker-mkr-price-jumps-amid-2-month-accumulation-spree\/","title":{"rendered":"Maker (MKR) price jumps amid 2-month accumulation spree"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1675967641695-580de5e7-6325-4b85-8825-883ee428b50a-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1675967641695-580de5e7-6325-4b85-8825-883ee428b50a-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1675967641695-580de5e7-6325-4b85-8825-883ee428b50a-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1675967641695-580de5e7-6325-4b85-8825-883ee428b50a-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Maker price jumped Thursday, hitting intraday highs above $1,186.<\/li>\n<li dir=\"ltr\">MKR was paring some of the gains as crypto slumped, with prices around $1,141 at the time of writing.<\/li>\n<li dir=\"ltr\">Data showed whales have been busy since early July, accumulating over 61.5k MKR.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/maker\/\">Maker (MKR)<\/a> price has witnessed an impressive upside over the past 24 hours, breaking above a price level that had constrained bulls since the broader market downturn in mid-August.\u00a0<\/p>\n<p dir=\"ltr\">MKR pushed to highs of $1,186 before it began to pare the gains as sellers swooped in amid profit taking deals.<\/p>\n<h2 dir=\"ltr\">Why is Maker price up?<\/h2>\n<p dir=\"ltr\">On-chain data shows accumulation for <a href=\"https:\/\/coinjournal.net\/news\/tag\/maker\/\">Maker<\/a> has been on the rise since early July. Santiment analysts are saying the two-month accumulation that saw whales and sharks buy more than $70 million worth of the cryptocurrency could provide the impetus bulls need to target new highs in September.<\/p>\n<p dir=\"ltr\">Per the platform, holders with 10k-100k MKR tokens added 61,500 of the governance token to their positions since July 9, 2023. The cohort held between $11.6k and $11.6 million worth of Maker\u2019s token as price crossed the $1,160 level.\u00a0<\/p>\n<p dir=\"ltr\">What does this accumulation mean for Maker price? Further buy-side pressure could catapult bulls beyond $1,200, bringing the YTD highs around $1,350 into play in the short term. The flip side is added profit taking.<\/p>\n<p dir=\"ltr\">\u201c<em>Their holdings will continue to correlate with future price movement<\/em>,\u201d analysts at the market intelligence platform noted in a post shared on X.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udc33\ud83d\udcc8 <a href=\"https:\/\/twitter.com\/hashtag\/Maker?src=hash&amp;ref_src=twsrc%5Etfw\">#Maker<\/a> has enjoyed a nice +12% day while the rest of <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#crypto<\/a> slumps. This can largely be attributed to accumulation by the whales &amp; sharks holding between $11.6K to $11.6M <a href=\"https:\/\/twitter.com\/search?q=%24MKR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$MKR<\/a>. Their holdings will continue to correlate with future price movement. <a href=\"https:\/\/t.co\/FjwTAsXysg\">https:\/\/t.co\/FjwTAsXysg<\/a> <a href=\"https:\/\/t.co\/eqY9LvvDa6\">pic.twitter.com\/eqY9LvvDa6<\/a><\/p>\n<p>\u2014 Santiment (@santimentfeed) <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/1697322555366060464?ref_src=twsrc%5Etfw\">August 31, 2023<\/a><\/p>\n<\/blockquote>\n<h2 dir=\"ltr\">Other catalysts of MKR price<\/h2>\n<p dir=\"ltr\">As CoinJournal highlighted today in a <a href=\"https:\/\/coinjournal.net\/news\/maker-mkr-price-soars-amid-south-korea-expansion-push\/\">MKR price analysis<\/a> piece, Maker\u2019s push into South Korea appears to be one of the catalysts for upward move. This came even as the crypto market retreated after this week\u2019s Grayscale-fueled spike.<\/p>\n<p dir=\"ltr\">Notably, the SEC is 2-0 down after the July 13 Ripple victory and the latest court ruling that the regulator acted \u201carbitrarily and capriciously\u201d when rejecting Grayscale\u2019s ETF application. Binning SEC\u2019s order adds to the likelihood of a spot ETF finally coming to the US market. Bitcoin and altcoins are poised, with MKR firmly in the picture.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/maker-mkr-gains-amid-2-month-whale-accumulation\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Maker price jumped Thursday, hitting intraday highs above $1,186. MKR was paring some of the gains as crypto slumped, with prices around $1,141 at the time of writing. Data showed whales have been busy since early July, accumulating over 61.5k MKR. Maker (MKR) [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":23209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23208"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23208"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23208\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23209"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}