Maker (MKR) sheds 6%, risks dip below $1k
Maker (MKR) price is down 6% in the past 24 hours, currently trading near $1,035. MKR price surged to $1,285 on Coinbase last Friday after MakerDAO activated the token buyback scheme. Data shows MKR price has declined after daily deposits to Coinbase by venture firm a16z. MakerDAO’s governance token Maker (MKR) has declined by 6% in the past 24 hours to hover ner $1,040 during early morning trading on Monday July 24. The price decline comes after the DeFi token surged to near $1,285 on Friday July 21, its highest level since June 2022. MKR’s gains had followed MakerDAO’s unveiling of its token buyback program that could see it remove $7 million worth of MKR from the market over the next one month. According to data from CoinGecko, MKR price has now also shed weekly gains to just 8%. DeFiLlama also shows TVL has also dropped by 6% over the past week to around $5.24 billion as of writing. Why is MKR price down today? As can be seen on the chart below, MakerDAO’s activation of ...