DeFi Token Maker Sets New TVL All-Time High As Crypto Market Takes Pause

Maker, an early DeFi token that helped get the now unstoppable trend off the ground, has set a new all-time high in total value locked, just as the rest of the crypto takes a nosedive.

Although the trend across crypto has temporarily turned bearish, the Altcoin

Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.

How To Get Free Crypto  

» Read more

” href=”” data-wpel-link=”internal”>altcoin token’s fundamental health continues to grow steadily, suggesting that when the short-term downtrend turns back around, the DeFi crypto asset will be ready to surge far higher. Technicals also point to more upside ahead, if current support levels can hold strong.

DeFi Dominance: Total Value Locked In Maker Sets Another New All-Time High

Maker is a DeFi token that enables holders to lend and borrow, much like many crypto assets in the same vein. This is just one of the many new ways crypto investors are making money passively through DeFi tokens like Maker and others.

14 BTC & 95,000 Free Spins for every player, only in mBitcasino’s Exotic Crypto Paradise! Play Now!

These Ethereum-based ERC20 tokens unlock the future of decentralized finance and have helped pick the overall crypto market out from the clutches of bears.

Valuations have run amok all summer long, but since the fall months hit, cryptocurrencies have been following the lead of the leaves and are dropping one after another.

Coinbase Banner  

USD Total Value Locked In DeFi Token Maker | Source: BitDealer Via Twitter

But as valuations drop, the total value locked away in Maker has achieved yet another all-time high, showing strong fundamental health and continued, sustainable growth in the DeFi space.

The total USD locked away in Maker is nearing $2 billion, representing just under 20% of the overall TVL in DeFi.

Related Reading | Trader Warns Of “Capitulation Volume” And “Heavy Downside” Across DeFi

Maker is right behind Uniswap in terms of overall market dominance but enjoys the top spot over Aave when it comes to lending currently.

MKRUSD Head And Shoulders Targets Over $2K Per Crypto Token

Fundamentals present a strong case for continuation in Maker, but MKRUSD technicals are also backing up the idea of more upside ahead.

FreeBitcoin Banner  

Massive Weekly Inverse Head and Shoulders Targets Over $2,000 | Source: MKRUSDT on

After a deep fall on Black Thursday along with nearly every other asset under the sun, Maker has formed more than two-thirds of a massive inverse head and shoulders chart pattern on weekly timeframes.

Related Reading | DeFi Overtakes Ethereum In The Media, Data Shows

The reversal pattern, if confirmed, has a target of over $2,000 per MKR token. At the rate that TVL is climbing, if prices can even partially catch up, the momentum to reach far higher could soon come.

Featured image from Deposit Photos, Charts from

Go to Source
Author: Tony Spilotro

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.