The Mask Network (MASK) is turning heads after a more than 27% price increase over the last day. The crypto market tracking website CoinMarketCap indicates that MASK is currently worth about $4.17 after a 27.57% increase in its price over the last 24 hours. In addition to this, the altcoin is also still up by more than 8% over the last week.
MASK / Tether US 1D (Source: TradingView)
MASK was also able to strengthen against the two biggest cryptos in the market, Bitcoin (BTC) and Ethereum (ETH), by about 27.17% and 26.69% respectively over the last day. Also in the green zone is MASK’s 24-hour trading volume which stands at $365,835,118 after an eye-watering 696.20% increase since yesterday.
In terms of market cap, MASK stands at $282,761,20, which makes it the 127th biggest crypto in terms of market capitalization. This places it right behind Ethereum Name Service (ENS) in the 126th position.
The on-chain analysis platform Lookonchain took to Twitter earlier this morning to share some of their own observations about MASK. According to the post, Lookonchain noticed that a whale withdrew 3.6 million MASK, worth about $14.8 million, from Binance, OKX, Kucoin, and Huobi through multiple addresses.
MASK whale transactions (Source: Lookonchain)
Lookonchain also added that this whale could be the reason why the price of MASK was able to climb the way it has over the last day. The post also mentioned some historical data that indicates that “transfer-in will lead to an increase in the price of MASK, and transfer-out will cause the price of MASK to drop”.
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Source: Cryptocurrency - investing.com
