on the crypto
Since the beginning of the year, the digital currency ecosystem has been subject to several volatile upheavals. Thanks to their solid liquidity and stability, traders and Investors industry players consistently bet on the most important assets, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP.
The Mask Network Proposal (MASK)
However, a popular analyst on Twitter known as @SmartContracter has touted a relatively unpopular altcoin, Mask Network (MASK), as a token to watch. According to a Smart Contracter Twitter thread, MASK has been showing signs of an imminent hike since January.
The upside push from $mask was even stronger overnight. I'm pretty sure this daily close will be a crazy breakout candle, I expect this to take away the November highs, imo,” the analyst said in a January update, adding recently that the token “has moved in cleanly on 3 waves down on $mask, overall structure still bullish, new highs imminent”.
Mask Network is a protocol that allows users to send encrypted messages on Twitter and Facebook. In essence, it acts as a bridge between the internet and a decentralized network that runs on top of it. At the time of writing, the token is trading at a price of $3,63, up 4,13% over the past 24 hours.
The relevance of the token has emerged in the growing hype surrounding Twitter as a social media platform
While the Mask Network has been around since 2019, its relevance became known the moment Elon Musk's alleged Twitter takeover deal was announced last year.
However, the token's embrace has been masked by the advent of the cryptocurrency winter, a trend that has pushed its price down more than 96,30% from its all-time high (ATH) of $97,92 reached over 2 years ago. While the Mask network has grown in popularity in recent years, Smart Contractor said Changpeng “CZ” Zhao's inclusion of the token in Binance's Twitter index was a major boost. He said in January:
I've been following $mask for months since it got its initial run in October when CZ added it to Binance's Twitter index, whatever that is. For the first time in 3 months it is showing signs of a new uptrend after a 68% drop.
Broader industry expectations
The digital currency ecosystem has been labeled as a very resilient market that has continued to impress investors and policy makers around the world. Despite the fear, uncertainty and doubt (FUD) related to the ecosystem, cryptocurrencies have always resumed growth without the support of central banks.
Considering this resilience, more altcoins are expected to rise to prominence in the near future. Mask Network's proposal is one of the intrinsic confidence propositions of one of the most followed analysts on the positive potential of innovative growth tokens in the ecosystem.
