.MakerDAO’s $MKR token surged above $1,200 for the first time since last August, as the recently activated Smart Burn Engine program is on track to buy back roughly $7 million in tokens in the next month. sndr_krisztian reports
) lender MakerDAO, surged to near a one-year high price Friday following the introduction of a token buyback program.
MKR briefly rose above $1,200 early Friday for the first time since last August, then pared some of its gains to change hands at around $1,148. The token is up 28% over the past week, significantly outperforming the 4.6% decline of theThe price action occurred as the lending protocol activated a token buyback scheme on Wednesday, removing MKR supply from the market.
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