Cryptocurrency hedge fund Ouroboros Capital said that due to the increase in DAI supply and revenue.
MakerDAO’s MKR token price may continue to rise, with bullish technical chart patterns pointing towards a $1,600 price target.
Market data shows the cryptocurrency has gained nearly 5% in the past 24 hours to $1,320, close to its early August high of $1,366.
A move above this level would see prices hit a 16-month high.