Here’s why MASK Network’s token yielded 11% gains overnight
- MASK Network’s token rallied 11% since February 14, in response to the announcement of the team’s participation in a Web3 social event.
- MASK plans to leverage the ETHDenver event to showcase the digital identity Next.ID, a partner project.
- The token resumed its uptrend after week-long sideways MASK price action.
MASK Network, the protocol that enables users of social media platforms to send crypto and interact with dApps witnessed a massive spike in the price of its native token. MASK price rallied upwards of 11% within the past 24 hours.
Also read: Elon Musk's favorite altcoins: Will Dogecoin price be the next to rally after MASK?
MASK Network announces participation in ETHDenver
MASK Network announced participation in a jam-packed two day event for hackers, investors and Web3 enthusiasts. The team behind the protocol expects a footfall of 35,000 at ETHDenver and the Web3 Social House will host educational sessions on Next.ID, a MASK Network partner.
The team has organized several successful events in the past, aligned with developer conferences and the ETHShanghai 2022 hackathon with Gitcoin, bringing together over 1,000 attendees and hackers.
MASK Network enables users of social media platforms to send crypto and interact with decentralized applications, and share encrypted content. The token’s popularity increased in the past few weeks with the likelihood of MASK’s utility for crypto payments on Elon Musk’s social messaging app Twitter.
MASK holders expect the token to witness a boost in its adoption and usage, once Twitter rolls out its plan for crypto payments.
The decentralized identity protocol’s price resumed its uptrend after short-term sideways trading since February 6. MASK yielded 31.9% gains to holders since January 16.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
