MKR holders might take to selling as the uptick in the token's MVRV ratio puts them at an advantage.
, MVRV shows the ratio between the current price and the average price of every coin/token acquired. The more the ratio increases, the more people will be willing to sell as the potential profits increase.
At press time, MVRV ratio of Maker stood at 53.49%, indicating that MKR’s current market value was more than 50% higher than its average price over the past year. Therefore, holders who bought MKR in the last 12 months might be inclined to sell.MKR traded at $1,270.83 per token at the time of writing.
Likewise, key momentum indicators rested above their respective center lines. The Relative Strength Index and Money Flow index were pegged at 73.46 and 71.23. Those values suggested that MKR accumulation momentum was high and it was nearing a state of being overbought.Further, an assessment of the token’s ratio of daily on-chain transactions in profit to loss confirmed that MKR transactions yielded more profits than losses in the past week.
, on a 7-day moving average, this metric was 2.53%. This meant that the number of profitable transactions was double that of transactions that returned losses during that period.
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