Decentralized infrastructure protocol Maverick posted powerful double-digit gains Friday amid a surge of trading activity for its MAV token. The cryptocurrency added over 15% intraday to briefly trade around the $0.71 level before pulling back slightly. Still, MAV changed hands around $0.70, which marks a rally of over 20% off recent lows.
Driving the upside breakout are tremendous spikes in trading volumes, according to market data. Over the last 24 hours, more than $71 million worth of Maverick activity took place, constituting a giant leap of nearly 300% compared to average daily turnover.
Source: CoinStats – Start using it today
The tremendous influx of trader and investor interest indicates significant conviction in returning to the DeFi and Web3 development platforms. However, Maverick has yet to put forth specifics around the exact catalysts spurring renewed momentum.
Nonetheless, surging volumes often emerge around new feature launches, protocol upgrades, and integration milestones. As an infrastructure provider backed by top-tier VCs like Pantera Capital, speculation around impactful improvements could explain today’s rally.
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Show more +So while the reasons for the breakout remain unconfirmed, the technicals and data underscore building optimism around Maverick Protocol’s ecosystem.
With upside momentum accelerating on giant volume inflows, additional near-term upside looks attainable for the native token. However, the lack of confirmed drivers means uncertainties persist about whether further continuation unfolds.
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