Maker (MKR) has enjoyed a sharp 23% rally today, but if the data of this on-chain metric is anything to go by, this rise may not last too long.
Maker MVRV Ratio Has Registered A Surge In Recent Days
The past month has been great for Maker investors, as the asset’s value has gained a whopping 86% during this period. MKR hasn’t slowed down recently, either, as the coin has only continued to show sharp bullish momentum.
MKR has observed a sharp rally recently | Source: MKRUSD on TradingView
As it currently stands, Maker’s profits in the past week mean that it is the best-performing coin among at least the top 100 assets in the cryptocurrency space. This constant rise that the asset has seen recently, however, may be coming to an end.
According to an analyst on Twitter, the MKR investors are currently holding onto a large amount of profits, which may entice them to sell their coins in order to harvest the gains.
The relevant…
