MASK Token Soared 25 Percent After Listing In Binance

Mask tokens have increased after listing on Binance. (Photo; Doc. LorentLabs)

JAKARTA - The crypto world continues to attract attention as one of the most dynamic financial markets today. The price of cryptocurrencies often goes up and down quickly and unexpectedly, and investors are looking for opportunities to get big profits. One of the tokens that is attracting attention is the Mask Network (MASK).

The price of the Mask Network (MASK) has surged 25 percent in the last 24 hours, supported by an increasing trading volume of up to 800 percent. Currently, the price of the MASK is trading at 4.04 dollars (IDR 62 thousand), after reaching a level of 4.21 dollars (IDR 65 thousand). The community believes that MASK is one of the tokens that will be supported for Twitter payments after Elon Musk's Twitter takeover.

Recently, a report from Lookonchain reported that a MASK token holder, identified as a whale, withdrew US$14.8 million worth of MASK tokens (Rp228 billion) from four major crypto exchanges, namely Binance, OKX, Kucoin, and Huobi. Most likely, the holder of this MASK token was behind a significant increase in MASK prices. In a short time, the MASK price jumped from 3.27 US dollars (Rp50,400) to 4.16 (Rp64,200), an increase of more than 25 percent.

Analysis of Etherscan data shows that the whale has a total of 8,973,549 MASK tokens. Historical entry and exit transfers from the "0xEf7C" address greatly affect the price of the MASK. In many cases, entry transfers lead to an increase in MASK prices while exit transfers can cause MASK prices to fall.

According to OKLink's on-chain data, there are 11,326 addresses holding MASK tokens. The top ten addresses that have MASK tokens accounted for 77.86 percent and addresses at 11-20 accounted for 13.94 percent. This shows that the MASK price movement relies heavily on the top MASK token holders. In addition, several crypto exchanges such as Upbit and AscendEX also recently added MASK listings, which are the reasons behind the high trading volume.

Upbit, South Korea's largest crypto exchange, has attracted great attention from the crypto community by registering MASKs. Currently, the price of the MASK token is trading above $4 (Rp61 thousand) and looks like it is experiencing a significant increase. In the next few weeks, investors will need to pay close attention to the movement of MASK prices because these tokens are influenced by special factors that affect the market.

The increase in the price of the Mask Network (MASK) in the last 24 hours reflects the high volatility of the crypto market. However, the adoption of tokens by large exchanges such as Binance and Upbit as well as support from well-known figures has provided a boost to the price of MASK.

Although a significant increase in MASK prices in a short time could attract investors, as with other crypto investments, investors should pay close attention and understand the risks involved.