Monday, April 15, 2024

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

An Ethereum (ETH)-based privacy-centric altcoin mission is getting a lift from crypto whales making large under-the-radar transactions, on-chain information reveals.

In accordance 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 mission that permits social media customers to ship content material, messages or cryptocurrencies to at least one one other in a personal and encrypted method.

MASK, the mission’s governance token, is up over 200% since 2023 kicked off. Lookonchain attributes the latest value enhance to a variety of deep-pocketed buyers.

“The value of MASK elevated by ~44% right now.

This market maker obtained 3.5 million MASK from handle ‘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!”

Supply: Lookonchain/Twitter

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 observed {that a} whale withdrew ~3.6 million MASK ($14.8M) from Binance, OKX, Kucoin and Huobi by a number of addresses.

It’s probably that this handle 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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Featured Picture: Shutterstock/GelgelNasution

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