MKR, the native token of MakerDAO, has seen a significant 185% increase in its value year-to-date (YTD). This surge is attributed to the successful implementation of incentive schemes aimed at increasing the supply of Dai, such as the Dai Savings Rate and the allocation of US T-Bills by the DAO.The active addresses of MKR have also hit a 10-week high, with more than 65 active addresses added in 10 days from September 17-27. The transaction volume has also reached levels not seen since last May, indicating an increased user participation rate as the market improves.The overall crypto market capitalization is now approaching $1.09 trillion, which is down approximately 10% from its July 2023 peak of $1.2 trillion. Bitcoin and Ether have both witnessed impressive year-to-date gains, with the former posting a 63% increase while the leading altcoin recorded a 40% surge.

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Information	Details
Geography	Global
Countries
Sentiment	positive
Relevance Score	8
People	None
Companies	CoinMetrics, Binance, PrimeXBT, MakerDAO
Currencies	Ethereum, Bitcoin, Maker, Dai, Threshold Network
Securities	None