An Ethereum (ETH)-based privacy-centric altcoin venture is getting a lift from crypto whales making huge under-the-radar transactions, on-chain knowledge reveals.
In keeping with 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 venture 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 venture’s governance token, is up over 200% since 2023 kicked off. Lookonchain attributes the current value enhance to plenty of deep-pocketed buyers.
“The value of MASK elevated by ~44% right now.
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% value enhance for MASK in someday following massive withdrawals from crypto exchanges.
“The value of MASK rose from $3.27 to $4.16 right now, a rise of 27%.
We seen {that a} whale withdrew ~3.6 million MASK ($14.8M) from Binance, OKX, Kucoin and Huobi via a number of addresses.
It’s possible 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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