May 10, 2020: Maker (MKR): Down 4.84%; Price Crosses 20 Day Average

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Maker Price Update

Maker’s current price, at the time of this writing, is $325.05 USD, down by approximately 4.84% from the day prior. Yesterday’s down day is a reversal of the day before it; in terms of trend, though, note that the current price is now 4.12% below its 20 day moving average, and is currently in a unclear trend over the past 14 days. From another vantage point, note that price has gone up 2 of the past 5 days. Another data point we may find worthy of observation is that price for Maker has increased 2 of the previous 5 days.

In terms of an expected trading range, the Bollinger bands on Maker suggest price may bounce between $320.5273 and $357.5277 based on its momentum and volatility over the past 14 days. As we are closer to the bottom of that range, rangebound traders may wish to consider exploring buying opportunities.

As for Maker’s market cap, it is currently at about $324M US dollars.

Update on Transactions and Holders

Yesterday saw 683 transfers amongst holders of Maker. Regarding a tally of holders, Yesterday saw Maker’s wallet count rise by 84. To understand loyalty or repeat usage amongst holders of Maker, we can note that there were 131 wallets making a transaction yesterday, while 2,064 wallets have sent or received tokens in the past month; this imputes a daily active wallet to monthly active wallet ratio of about 0.06.

How are the Strong Holders of Maker Faring?

As for wealth distribution, the richest 1,000 wallets currently own 97.81% of the money supply. If we focus on exchanges, which may be an correlated with liquidity and greater confidence in the currency, the exchange wallets that are in the top 1,000 wallets own 1.76% of the currency’s total money supply. Exchange ownership grew by 0.04% over the past week, while the overall ownership percentage of the top 1,000 richest wallets grew by -0.01% over that time period. Maker’s smart contract owns approximately 0.08% of its own total money supply. This amount hasn’t changed over the past week.

Maker’s Social Media Presence

In terms of social media presence, Maker saw its Twitter followers and Reddit subscribers go up by 70 and 37 over the past 24 hours. Traders interested in following Maker has the biggest presence on Twitter, where it has 42,669 users engaged. Use this link to follow Maker on Twitter.

Article by SixJupiter

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