Santiment has now revealed the cause of Maker’s (MKR) recent amazing growth jumps. Maker is the native digital currency of the decentralised infrastructure and software services provider. The number of active MKR addresses has risen to a 10-week high, claims the data analytics service provider.
This information highlights the fact that while there are more addresses, which shows that more people are entering the Maker ecosystem, those who are already supporting the protocol are generally becoming much more active. This is the same time when the altcoin’s price surged to $1,500, as Santiment noted.
https://x.com/santimentfeed/status/1707216164739543469?s=20
At the time of writing, Maker is trading at a price of $1,528, up 7.35 percent from the previous day. This growth rate is only further evidence that Maker hasn’t slowed down at all so far this month, as shown by the more than 14% increase it has so far registered in the trailing seven-day period.
Santiment cautions, however, that Maker investors should exercise caution given the current flood of tokens to exchanges, as this pattern may indicate an impending large drop in the near future.
Maker precedent
Maker will be an altcoin whose growth trajectory has demonstrated to be distinct from the bulk of the pack. The token’s recent rise has demonstrated that it currently maintains a lower correlation than Bitcoin (BTC), whose growth momentum has recently been more range-bound.
On a number of days, Maker has continuously been among the top-performing coins. As previously said, the token’s ability to track this growth curve can be attributed in part to its continued innovation, which has led to the introduction of new use cases for its backers in some of the most significant hubs, such as South Korea.
