Cryptocurrency investors rejoiced Friday as the market closed out the week with a notable surge led by both positive Bitcoin ETF news and Litecoin (LTC) surging over 30%. Across the board, an increasing number of altcoins from Binance Coin to TomoChain appear to be decoupling from Bitcoin (BTC) and starting their own bull rallies.
One such altcoin that looks ready to move higher is Maker (MKR), the DAO behind the stablecoin Dai (DAI). Based on the chart, it looks like this popular altcoin recently confirmed a double bottom made in September and December, bouncing off $360 on strong volume on February 1. Since then, MKR has surged 31%, bringing the coin close to $500 again.
Maker’s current $480.1 million market cap makes it the 17th-largest cryptocurrency and the 16th-largest constituent in the AltDex 100 Index (ALT100).