An Ethereum (ETH)-based privacy-centric altcoin mission is getting a lift from crypto whales making large under-the-radar transactions, on-chain knowledge reveals.
According to blockchain monitoring agency Lookonchain, crypto whales have been driving up the value of MASK token, serving to it obtain its parabolic rallies over the previous week.
Mask Network is a mission that enables social media customers to ship content material, messages or cryptocurrencies to 1 one other in a personal and encrypted method.
MASK, the mission’s governance token, is up over 200% since 2023 kicked off. Lookonchain attributes the current worth enhance to plenty of deep-pocketed buyers.
“The worth of MASK elevated by ~44% in the present day.
This market maker acquired 3.5 million MASK from handle ‘0x5459’ [on March 17th].
At the identical time, a number of associated addresses withdrew MASK from exchanges one after one other.
Drive up the value of MASK once more!”
Lookonchain beforehand reported on the whale earlier this month, noting a 27% worth enhance for MASK in at some point following giant withdrawals from crypto exchanges.
“The worth of MASK rose from $3.27 to $4.16 in the present day, a rise of 27%.
We observed {that a} whale withdrew ~3.6 million MASK ($14.8M) from Binance, OKX, Kucoin and Huobi via a number of addresses.
It is probably going that this handle is driving up the value of MASK.”
At time of writing, MASK is buying and selling at $6.42, up over 4% within the final 24 hours.
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