A single crypto whale likely drove up the price of an Ethereum (ETH)-based altcoin on Monday, according to the blockchain-tracking platform Lookonchain.
Mask Network (MASK), a project that aims to bring Web3 features to social media platforms like Twitter and Facebook, shot up from trading around $3.26 at the beginning of the day on Monday to a high of $4.21, a more than 29% price increase.
The 153rd-ranked crypto asset by market cap has since partially retraced and is trading at $3.74 at time of writing.
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Lookonchain reports that a whale withdrew about 3.6 million MASK worth roughly $14.8 million from the crypto exchanges Binance, OKX, KuCoin, Huobi on Monday.
“It is likely that this address is driving up the price of MASK. We analyzed
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