Maker (MKR), the governance token behind MakerDAO and the Maker Protocol, both built on the Ethereum blockchain, has seen a significant increase in value over the past 24 hours, just ahead of an eagerly awaited event in Seoul scheduled for Friday.
According to the latest data from TradingView, the price of Maker (MKR) has surged by approximately 12.57 percent in the last day, reaching a trading value of approximately $1,168. Market data, aggregated by Coinmarketcap, backed by Binance, reveals that the 24-hour average trading volume for Maker has risen by over 182 percent, reaching approximately $149 million.
Maker Team Lands in Seoul!
The Maker (MKR) team has assembled in Seoul, gearing up for the SubDAO event, a significant announcement made on August 28th. This move towards SubDAOs marks a pivotal step forward for both MakerDAO and the DAI Stablecoins market.
This strategic move underlines the team’s dedication to unlocking the potential of Decentralized Autonomous Organizations (DAOs) in a time when the mainstream adoption of digital assets is gaining traction. The event, named EthconKorea, is set to bring together DeFi developers and investors from Friday, September 01, to Sunday, September 03, 2023.
Notable Speakers
Of particular note is the participation of the SparkLend protocol team, developers of an innovative lending platform designed specifically for DAI users, among the roster of speakers at the EthconKorea event in Seoul.
MKR Price Continues to Fluctuate
When analyzing the recent fluctuations in MKR price, it’s evident that this resurgence follows a year-to-date bullish trend. The daily time frame reveals that the MKR price remains influenced by a golden cross formed between the 50 and 200 Moving Averages (MAs).
Read More: MakerDAO Founder Converts 200,000 DAI into MKR Tokens!
Furthermore, as a mid-cap altcoin with a market capitalization hovering around $1 billion, MKR enjoyed robust support at the level of its double-bottom formation earlier this year, valued at around $510.
What do you think about the recent surge in MKR price? Do you think it’s sustainable?
