- MKR wins as one of the DeFi tokens that have managed to maintain most of its value.
- MKR holds healthy premium despite recent market headwinds.
The recent sell pressure in the crypto market this month weighed heavily especially on Altcoins. Despite that, some DeFi tokens like Maker [MKR] had a softer fall than most of their counterparts.
Read about MKR’s price prediction for 2023/2024
MKR stands out from most of the altcoins according to IntoTheBlock’s recent profit and loss analysis. The report suggests that 90% of crypto holders are currently at a loss. It also noted that there are now fewer MKR holders at a loss compared to a year ago.
While many altcoins are experiencing unprecedented losses, with over 90% of holders incurring losses, principal DeFi tokens are showing some resilience.
An examination of the profit and loss profiles of holders over the past year reveals that most are in a similar position… pic.twitter.com/miXAX5YdLX
— IntoTheBlock (@intotheblock) August 24, 2023
According to the analysis, MKR had the lowest percentage of holders at a loss at 52.36% out of the top DeFi tokens. Compound had the highest loss profile at 92.92%. According to the analysis, one of the main reasons for MKR’s win is the token’s overall bullish performance so far this year.
A look at MKR’s price action on a year-to-date basis confirms this. For instance, its $1071 price tag represents a 117% premium from its lowest level in 2023. Despite this, MKR recently pulled b
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Author: Michael Nderitu
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