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An Ethereum (ETH)-based privacy-centric altcoin challenge is getting a lift from crypto whales making large under-the-radar transactions, on-chain knowledge exhibits.
Based on blockchain monitoring agency Lookonchain, crypto whales have been driving up the worth of MASK token, serving to it obtain its parabolic rallies over the previous week.
Masks Community is a challenge that permits social media customers to ship content material, messages or cryptocurrencies to 1 one other in a non-public and encrypted method.
MASK, the challenge’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% at this time.
This market maker obtained 3.5 million MASK from deal with ‘0x5459’ [on March 17th].
On the identical time, a number of associated addresses withdrew MASK from exchanges one after one other.
Drive up the worth of MASK once more!”
Lookonchain beforehand reported on the whale earlier this month, noting a 27% worth enhance for MASK in sooner or later following massive withdrawals from crypto exchanges.
“The worth of MASK rose from $3.27 to $4.16 at this time, 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’s doubtless that this deal with is driving up the worth 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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