When the data on the chain is examined, a cryptocurrency It is observed that the company has caused a decrease in price by selling a large amount of altcoins offered by itself on Binance.
Mask Network (MASK) Developers Dumped Large Amounts of Altcoins
2 wallets belonging to Mask Network (MASK) developers transferred approximately 850,000 MASK tokens to Binance. The total value of the transferred tokens was recorded as $3.06 million.
The Mask Network altcoin, which was traded at approximately $3.73 before the transfer, is at $3.42 at the time of this writing, after the developers’ transfer to Binance.
Mask Network (MASK) is a decentralized application built on the Ethereum blockchain that aims to provide users with an easy and secure way to share encrypted messages, files and cryptocurrency transactions.
The altcoin was created by a Taiwan and Hong Kong-based developer team and was released in 2020.
Mask Network uses the Ethereum blockchain to secure its network and enable smart contract functionality. It also uses a native token called MASK, which is used to incentivize users to join the network and earn rewards for providing liquidity or participating in governance.
MASK can also be spent to pay transaction fees and access premium features on the platform.
Overall, Mask Network aims to provide a more secure and private way for users to interact with decentralized applications and exchange cryptocurrencies while taking advantage of blockchain technology.
*Not investment advice.
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