Maker (MKR) price has seen an impressive surge over the past 24 hours, breaking above a price level that had been constraining bulls since the broader market downturn in mid-August. MKR pushed to highs of $1,186 before it began to pare the gains as sellers swooped in amid profit taking deals.On-chain data shows that accumulation for Maker has been on the rise since early July. Analysts at the market intelligence platform Santiment say that the two-month accumulation that saw whales and sharks buy more than $70 million worth of the cryptocurrency could provide the impetus bulls need to target new highs in September.Other catalysts for the MKR price include Maker’s push into South Korea and the recent court ruling that the SEC acted “arbitrarily and capriciously” when rejecting Grayscale’s ETF application. This adds to the likelihood of a spot ETF finally coming to the US market, with MKR firmly in the picture.

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Information	Details
Geography	Global
Countries
Sentiment	positive
Relevance Score	8
People	None
Companies	Ripple, Grayscale, Santiment, SEC, CoinJournal
Currencies	Ethereum, Bitcoin, Maker
Securities	None