Maker

MrBeast

Rune

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Sky ecosystem’s previous token, Maker, is recording upward momentum as holders prepare to take profits. 
Maker (<a href="https://crypto.news/price/maker/" target="_blank">MKR</a>) is up 11% in the past 24 hours and is trading at an intraday high of $1,280 at the time of writing. The asset’s market cap has surpassed the $1.1 billion mark, making it the 64th-largest cryptocurrency. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1162" height="681" src="https://crypto.news/app/uploads/2024/10/MKRUSDT_2024-10-31_10-15-41.png" alt="Maker surges 11%, bringing 50% of holders to the profit zone - 12" class="wp-image-14307147">
 <figcaption class="wp-element-caption">
 MKR price | Source: <a href="https://crypto.news/price/maker/" target="_blank">crypto.news</a>
 </figcaption>
</figure> 
MKR’s daily training volume increased by 120%, reaching $150 million. Despite the gains, Maker is still down by 80% from its all-time high of $6,339 on May 4, 2021. 
Its high trading volume shows increased interest in the token. However, the sudden surge could trigger a price correction due to the greedy market conditions. 
 You might also like: <a rel="" href="https://crypto.news/circle-ceo-predicts-stablecoins-will-play-major-role-in-hong-kong-trade/"> Circle CEO predicts stablecoins will play major role in Hong Kong trade </a> 
<h2 class="wp-block-heading" id="50-mkr-holders-in-profit">50% MKR holders in profit</h2> 
According to data provided by IntoTheBlock, 50% of MKR holders, accounting for 47,560 addresses are currently in profit. Almost 5% of the investors are close to their initial investment and the remaining 45%, 43,700 addresses, are still at a loss. 
Moreover, the number of <a href="https://crypto.news/makerdao-wants-to-be-compliant-rather-than-centralized/" target="_blank">Maker</a> daily active addresses in profit rose from seven to 48 over the past week.&nbsp; 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1200" height="800" src="https://crypto.news/app/uploads/2024/10/ITB_mkr_historical_active_addresses_by_profitability_ethereum_2024-10-31T05_32_42.383Z.png" alt="Maker surges 11%, bringing 50% of holders to the profit zone - 13" class="wp-image-14307148">
 <figcaption class="wp-element-caption">
 MKR DAA in profit | Source: <a href="https://app.intotheblock.com/coin/MKR" target="_blank" rel="nofollow">IntoTheBlock</a>
 </figcaption>
</figure> 
While this number is much lower than the total number of MKR holders, the profit-taking could still impact the asset’s price considering that over 81% of the token supply is sitting in whale wallets. 
Notably, the large holder accumulation has been cooling down since Oct. 26 when MKR was hovering below the $1,100 mark, per ITB data. 
Data from ITB shows that the whale transactions consisting of at least $100,000 worth of MKR rose from 14 to 38 over the past three days. Over $72 million in such transactions have been recorded in the last seven days. 
The amount of MKR exchange net inflows has also been increasing over the past week. According to ITB, Maker recorded an exchange net inflow of $4.27 million on Oct. 30 alone. 
The <a href="https://crypto.news/sky-mulls-cutting-support-for-wbtc-over-justin-sun-affiliations/" target="_blank">Sky</a> ecosystem, formerly known as Maker, has been wandering in an <a href="https://crypto.news/identity-crisis-sky-could-rebrand-as-maker/" target="_blank">identity crisis</a> after its rebranding. Rune Christensen, co-founder of Maker, made a proposal to return to its old name while the DAI (<a href="https://crypto.news/price/dai/" target="_blank">DAI</a>) replacement’s, USDS, supply reached one billion tokens in two weeks. 
The rebranding decision is likely to be announced in mid-November. 
 Read more: <a rel="" href="https://crypto.news/youtuber-mrbeast-allegedly-netted-23m-from-crypto-scams/"> YouTuber MrBeast allegedly netted $23m from crypto scams </a>

Maker surges 11%, bringing 50% of holders to the profit zone

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