MKR, the native token of the MakerDAO ecosystem, is one of the best performers in the cryptocurrency market following last week’s announcement.
MKR, the native token of the MakerDAO ecosystem, is outperforming most of the coins and tokens in the top 100 list. The token has added more than 1% to its value in the last 24 hours, outperforming the broader crypto market.
The total crypto market cap remains above $900 billion despite losing more than 1% of its value in the past 24 hours.
Bitcoin, the world’s largest cryptocurrency by market cap, could drop below the $19k support level as it is down by more than 1% in the last 24 hours. Ether is down by more than 2% so far today and is trading below the $1,300 support level.
MKR has added more than 4% to its value so far today, outperforming the other coins in the top 100 list. MKR has been performing well over the past few days as it is up by more than 12% in the last seven days.
Total delegated MKR is at an all-time high!
There are now 142.67k MKR delegated to 23 Recognized Delegates and 92 Shadow Delegates, and a total of 187.83k MKR locked into the Maker Governance contract. pic.twitter.com/yxjmi36NBI
— Maker (@MakerDAO) September 29, 2022
The rally comes after MakerDAO announced a few days ago that the total delegated MKR is at an all-time high.
The team said there are now 142.67k MKR delegated to 23 Recognized Delegates and 92 Shadow Delegates, and a total of 187.83k MKR locked into the Maker Governance contract.
Key levels to watch
The MKR/USD 4-hour chart is bullish as MKR has been performing well over the past few days.
MKR/USD Chart By TradingView
The 14-day RSI of 60 shows that MKR could enter the overbought region if MakerDAO sustains its positive momentum. The MACD line remains above the neutral zone, indicating bullish momentum.
At press time, MKR is trading at $773 per coin. If the bulls remain in control, MKR could surge past the $811 resistance level for the first time since August.
However, it would need the support of the broader crypto market to move past the $844 resistance level in the short term.
Where to buy now
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
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Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News
Breaking News: Yuga Labs Founder Steps Down for Health Reasons
NFT Entrepreneur and Yuga Labs founder Wylie Aronow, creator of Bored Ape Yacht Club and CryptoPunks, Takes Time Off for Health.
NFT Entrepreneur and Yuga Labs founder Wylie Aronow, creator of Bored Ape Yacht Club and CryptoPunks, Takes Time Off for Health after CHF Diagnosis.
Yuga Labs Founder Steps Down
Wylie Aronow, one of the co-founders of Yuga Labs, recently announced that he will be taking a leave of absence from the company due to health reasons. In a tweet, he shared that he had been diagnosed with congestive heart failure. Aronow, who is also known by his pseudonym Gordon Goner, stated that the symptoms started last year and that he had delayed seeking medical attention so he could continue working. However, after undergoing testing, his doctor advised him to make significant changes to his lifestyle.
Aronow announced his departure from his role at Yuga Labs to focus on his health. In a statement, he stated that he would be taking a leave of absence to prioritize his well-being. Although he will no longer have a full-time position at the company, Aronow will continue to serve as a Board Member and Strategic Advisor, though the extent of his involvement in these capacities was not specified.
In a tweet, Aronow explained his departure. He stated that his chronic illness consumed most of his twenties and that he overexerted himself at Yuga Labs, working 12 hours daily. He regrets not finding balance, despite advice from those around him. Aronow’s priority now is to seek medical treatment and focus on healing.
Yuga Labs, with Aronow, gained recognition in early 2021. Aronow and co-founders Greg Solano (Gargamel), Zeshan (Sass), and Kerem (Tomato Ketchup) launched the Bored Ape Yacht Club (BAYC) NFT collection on April 23, 2021. The collection became a massive success. Although the NFTs were initially priced at .08 ETH per ape (around $190), they soon sold for over $100,000 on secondary markets.
Wylie remains a board member and advisor at Yuga Labs. In a Twitter thread, he expressed his confidence in Yuga’s future and the leadership of @cryptogarga. The addition of Daniel Alegre, soon-to-be former President and COO of Activision, further strengthens his positive outlook. Wylie also has a bright future ahead for his brand.