An Ethereum (ETH)-based privacy-centric altcoin challenge is getting a lift from crypto whales making huge under-the-radar transactions, on-chain knowledge reveals.
In response 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.
Masks Community is a challenge that enables social media customers to ship content material, messages or cryptocurrencies to at least one 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 latest value enhance to quite a few deep-pocketed buyers.
“The worth of MASK elevated by ~44% as we speak.
This market maker acquired 3.5 million MASK from tackle ‘0x5459’ [on March 17th].
On 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% value enhance for MASK in someday following giant withdrawals from crypto exchanges.
“The worth of MASK rose from $3.27 to $4.16 as we speak, 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 tackle 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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