May 8, 2020: Maker (MKR): Down 2.26%

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Maker: What’s the Latest Regarding its Price?

At the time of this writing, Maker has a price of $339.84 USD, which puts it down by approximately 2.26% from yesterday. The past 24 hours mark a reversal in price from the day prior; it should be noted, though, that price is still in a unclear trend, and is currently 0.9% above its 20 day moving average. Staying above this level may be critical to sustain short-term momentum. Another data point we may find worthy of observation is that price for Maker has increased 6 of the previous 14 days. And in terms of volume, yesterday’s price move ocurred on volume that was 24.93% less than its 7 day average volume.

In terms of an expected trading range, the Bollinger bands on Maker suggest price may bounce between $320.1474 and $353.4996 based on its momentum and volatility over the past 14 days. Given its boundaries, rangebound traders may find it compelling to entertain shorting, as we are nearer to the top of the range.

The currency’s market cap currently stands at $334 million US dollars.

Update on Transactions and Holders

693 transactions amongst holders of Maker occurred yesterday. Regarding a tally of holders, Yesterday saw Maker’s wallet count increase by 43. To understand loyalty or repeat usage amongst holders of Maker, we can note that there were 112 wallets making a transaction yesterday, while 2,026 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?

In terms of wealth concentration, the richest 1,000 wallets own 97.81% of the coin’s total 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 1.79% of the currency’s total money supply. In terms of growth rates, the share of total supply of the richest 1,000 wallets has grown by 0% over the past week. For the exchange wallets within the richest 1,000 wallets, their share has grown by 0.1%. As for the Maker’s smart contract itself, that owns 0.08% of the total money supply, an amount unchanged from the week prior.

Maker’s Social Media Presence

In the past day, Maker’s Twitter followers and Reddit subscribers went up by 110 and 41, respectively. If you are interested in following Maker on social media, Twitter, where it has 42,599 following it, may be a good place to start. Use this link to follow Maker on Twitter.

Article by SixJupiter

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