The Ethereum-based cryptocurrency Maker (MKR) reached a high of $554.88 today, which represents a 52% surge since February 3rd.
The coin powers a loan system that uses Ethereum (ETH) as collateral, and is a companion to the stablecoin Dai (DAI). The blockchain-based loans platform has been remarkably successful throughout the crypto bear market, with about 1% of all Ethereum now locked in MakerDAO loans.
The crypto market at large continues to move sideways, with Bitcoin down 0.91% at $3,594, according to the price tracker Coin360.
Technical analysts are watching prices trade in a tight range, trying to determine where the next point of inflection will take the market.
FXStreet – Has the worst of this bearish market passed?
CoinTelegraph – BTC playing the waiting game
BCFocus – XRP struggling to stay above the $0.300
Ethereum World News – Price trading near crucial support versus Bitcoin
ETHNews – Ether signaling downside correction
CryptoPotato – Ethereum consolidates around $120
NewsBTC – ETH primed for further gains above $125