Cryptocurrency Maker Rises More Than 3% In 24 hours
Portfolio Pulse from Benzinga Insights
Maker (MKR), a cryptocurrency, has seen a 3.03% price increase over the past 24 hours, reaching $2,024.81, despite a 10% decline over the past week from $2,225.67. The coin is currently far from its all-time high of $6,292.31. Trading volume has decreased by 63% over the past week, while the circulating supply has risen by 0.65% to 922 thousand, which is 91.7% of the maximum supply. Maker's market cap is ranked #48 at $1.87 billion.
January 18, 2024 | 3:02 pm
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NEUTRAL IMPACT
Maker (MKR) has experienced a short-term price increase of 3.03% in the last 24 hours, countering its weekly downward trend. The decrease in trading volume and increase in circulating supply may indicate a potential for volatility in the near term.
The short-term impact on MKRUSD is neutral to slightly positive due to the recent price increase. However, the significant drop in trading volume could suggest less market interest or consolidation, which might lead to increased volatility or a potential reversal of the recent price gains. The increase in circulating supply could also put downward pressure on the price if demand doesn't keep up.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100