Why Binance Listed $MASK Token Price Is Surging Today?

Mask Network (MASK) price soars 25% in the past 24 hours, with massive support from a trading volume of nearly 800%. The MASK price currently trading at $4.04, after hitting a high of $4.21.

The Binance-listed token once gained massive traction after Elon Musk’s Twitter takeover as the community believed it is one of the tokens to be supported for Twitter payments.

Lookonchain reported that a whale withdrew 3.6 million MASK tokens worth $14.8 million from crypto exchanges BinanceOKXKucoin, and Huobi through multiple addresses. It is likely that this address is behind the massive rise in the price of MASK. The price rose from $3.27 to $4.16 today, an increase of over 25%.

Etherscan data analysis revealed that the whale has 8,973,549 MASK tokens. The historical transfer-in and transfer-out of the address “0xEf7C” had impacted MASK price immensely. In many cases, transfer-in caused an increase in the MASK price and transfer-out caused the price of MASK to drop.

According to OKLink on-chain data, 11,326 addresses hold MASK tokens. The top 10 addresses holding MASK tokens account for 77.86% and the addresses with positions 11-20 account for 13.94%. It means the price movement of MASK depends on these top wallet addresses. Binance, OKX, and Celer Network are also among the largest holders of MASK tokens.

MASK Token Listings

Furthermore, multiple listings of MASK by many several exchanges such as Upbit and AscendEX recently is the reason behind the huge trading volume.

South Korea’s largest crypto exchange Upbit listing MASK has grabbed massive attention from the crypto community. The MASK token price currently trades above $4 and looks

Also Read: Ethereum Creator Vitalik Buterin Dumps Multiple Memecoins, Is A Crypto Crash Imminent?

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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