MakerDAO had a solid February, but can MKR continue its hike in March

ambcrypto.com:

MakerDAO [MKR] may have had one of its best-performing months in February, but that 40% 30-day surge only had a minimal impact on the token’s long-term holders.

During the previous month, most cryptocurrencies only traded sideways. But MKR’s standout growth was one not to disregard. 

Read MakerDAO’s [MKR] Price Prediction 2023-2024

Despite the hike, many addresses that held MKR for the past 365 days could only rise to gain regions for the first time since they accumulated. The price increase brought MKR’s 2023 performance to a 75% hike, implying that a lot of holders bought the top.

It was a more discouraging phase for believers in the Maker project who have owned the token for far greater years. According to  Santiment’s insight , this group has continued to bear losses.

Source: Santiment

The chart above showing the Market Value to Realized Value (MRVR) ratio proved this inference. The metric highlights how much profits holders of an asset have made over a particular period concerning its valuation depending on the market condition.

At press time, the MVRV ratio was -36.01%. Being in the negative region and pegged below one implied that MKR holders of the last five years were currently not in profit. In addition, MKR was down 85.97% down from its All-Time High (ATH).

Withal, Maker still had the biggest decentralized stablecoin in DAI. And, it has also been able to steer clear of the regulatory scrutiny of several stablecoins connected to centralized entities.

Recently, the Ethereum [ETH] -based decentralized currency reserve disclosed that the DAI on the Curve Finance [CRV] liquidity pool hit a new ATH.

• 82.4 million DAI from @CurveFinance stETH-ETH LP—new