The Maker crypto coin is in the altcoin news and rumors now as it is consolidating its losses from the previous day and trades at a price of $568. Maker is currently in a downside momentum but it should be noted that this is now the second consecutive day that the price has been up.
Moreover, MKR is now around 5% below its 20 day moving average and data suggests that the price has increased in 2 of the previous 5 days. This is not good and good. It is not good because it shows a downside momentum, but good because there has been a market-wide crash and the Maker crypto coin was not that bad throughout it.
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In terms of the expected trading range, we can see that the Bollinger bands on Maker suggest that the price may bounce between $543 and $678 based on its momentum and volatility over the past 14 days. Given its boundaries, rangebound traders may find it compelling to entertain buying as we are nearer to the bottom of this range.
Over the past 24 hours, 980 transfers have been added to the recording transactions amongst holders of Maker. The blockchain news also show that in terms of estimating the number of holders, the number of wallets holding the Maker crypto coin has gone up by approximately 7. In terms of recurring usage, even 2,276 wallets have sent or received coins in the past month while 148 did that in the past day.
And in regards to wealth distribution, the top 1,000 Maker wallets hold over 98.23% of the token’s total money supply. Additionally, the Maker crypto coin is popular on social media and saw its Twitter followers and Reddit subscribers go up by over 39% and 18% over the past 24 hours. If you are interested to hear more about Market, you can follow their social media – their Twitter profile is great for quick news and updates (and can benefit you if you are a MKR investor).
Today’s price of Maker (MKR) is at $568 with a 1.53% loss on the day. The price could improve soon if it follows the trend of other altcoins above and below it which are all rising. One of them is NEM (XEM) which is only two positions below MKR and is having a good day today, surging by 5% following the dreadful losses in the cryptocurrency news.
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