An Ethereum (ETH)-based privacy-centric altcoin venture is getting a lift from crypto whales making large under-the-radar transactions, on-chain information exhibits.
In keeping with 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 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 latest value enhance to a lot of deep-pocketed buyers.
“The worth of MASK elevated by ~44% at this time.
This market maker obtained 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 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 by means of a number of addresses.
It’s doubtless 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.
Do not Miss a Beat – Subscribe to get crypto e mail alerts delivered on to your inbox
Examine Worth Motion
Comply with us on Twitter, Fb and Telegram
Surf The Each day Hodl Combine
 
Disclaimer: Opinions expressed at The Each day Hodl are usually not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual danger, and any loses you might incur are your duty. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please be aware that The Each day Hodl participates in affiliate internet marketing.
Featured Picture: Shutterstock/GelgelNasution
