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Decoding MakerDAO’s performance

  • freeamfva jack
    • 1672 posts
     
    March 6, 2022 10:41 PM EST

    While many investors are busy looking at crypto-assets like coins or tokens, we also need to keep an eye on DAOs. In particular, MakerDAO – the project behind MKR tokens and DAI – has been seeing some intriguing activity of late.To get more news about lcoin, you can visit wikifx.com official website.

    Try to MAKER do with things
    At press time, MKR was trading at $1,797.27, having fallen by 1.27% in the last 24 hours.

    However, the metrics reveal something interesting. Despite the price still falling, weighted sentiment shot out of the negative territory and sky-rocketed to a euphoric high of 7.372. While this looks like a positive sign, it’s important to keep in mind that sharp downtrends can sometimes follow such tremendous highs.Coming to the network itself, when looking at active addresses and development activity together, we notice an interesting trend. Sharp dips in development activity between September 2021 and March 2022 largely coincided with a sudden rise in the number of active addresses.

    Coming to the network itself, when looking at active addresses and development activity together, we notice an interesting trend. Sharp dips in development activity between September 2021 and March 2022 largely coincided with a sudden rise in the number of active addresses.

    MKR’s press time price is a long way from its $6,000 highs around the time of the May 2021 crash. In fact, MKR’s price has been in a freefall since late 2021. Santiment insights noted,

    With Ether has also been on a downtrend, this had the effect of impacting MKR investors and many others who are invested in altcoins. Santiment Insights explained,

    With the top cryptos again in the red at press time, it remains to be seen whether more debt clusters will form.

    AML analytics platform Coinfirm looked at the ERC-20 tokens that had been donated to support Ukraine’s resistance against Russia. Out of the $9 million in crypto sent to the country’s government as of 4 March, USDT was the top choice.