With MakerDAO's major 'Endgame' upgrade underway, traders are watching how the transition to a new SKY token will influence market activity and sentiment.
MakerDAO begins major 'Endgame' upgrade
MakerDAO is advancing its "Endgame" plan, which involves replacing the MKR token with a new governance token called SKY
. This overhaul includes a vote on fees to encourage a timely token conversion and has introduced new
USDS staking rewards.
Price dips as trading patterns shift
The price of MKR has declined
↘3%
over the last day and
↘4%
over the week, though it remains up
↗4%
monthly. This performance comes as onchain data shows a pattern of fewer but larger transactions, with buying making up
↗67%
of the volume.
Social media attention surges
The project has seen an exceptional
↗898,661%
surge in social media activity over the past week, with sentiment remaining
↗69%
positive. This increase in attention has occurred alongside an
↗18%
rise in the number of new traders entering the ecosystem.