Whales Quietly Boosting Ethereum Altcoin That Exploded 114% This Week: On-Chain Knowledge

by Cryptospacey

An Ethereum (ETH)-based privacy-centric altcoin undertaking is getting a lift from crypto whales making large under-the-radar transactions, on-chain knowledge 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 undertaking 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 undertaking’s governance token, is up over 200% since 2023 kicked off. Lookonchain attributes the current value enhance to quite a lot of deep-pocketed buyers.

“The worth of MASK elevated by ~44% right this moment.

This market maker acquired 3.5 million MASK from handle ‘0x5459’ [on March 17th].

On the similar time, a number of associated addresses withdrew MASK from exchanges one after one other.

Drive up the value of MASK once more!”

Supply: Lookonchain/Twitter

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 right this moment, a rise of 27%.

We seen {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 seemingly that this handle 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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