MASK Network’s MASK token has experienced a significant increase in value in the last 24 hours, surging by over 18%, while ARB has dropped by nearly 90% following Arbitrum’s ARB token airdrop. The MASK Network is a dedicated project aimed at bridging the gap between web2 and web3, allowing social media users to interact with decentralized applications (dApps), transfer digital assets, and more. MASK token has emerged as one of the top gainers over the last 24 hours, surging by 18%. It hit a high of $6.51, with a trading volume of $759,751,811. Nevertheless, the digital asset has shed some of those gains and is hovering around $6.26 at the time of writing.
In the weekly timeframe, MASK’s price has experienced more than a 60% increase, and within the last 14 days, it has surged by 116%. However, despite the bullish momentum in the past 30 days, MASK is still down by 84.66% from its all-time high, which was achieved in February 2021.
Arbitrum executed its long-awaited airdrop to some eligible members of its ecosystem on March 23, despite an initial Sybil attack threat. The MASK Network received 257,549 ARB tokens during the event. Nonetheless, due to the massive selloff of the ARB token by those who participated in the airdrop event, the price of this asset has crashed by more than 70% from its all-time high. At the time of writing, the ARB token is trading for $1.11, with a market cap of $2,712,092,633.
In the larger timeframe, MASK has experienced a bullish momentum, whereas ARB has lost its value since the airdrop event. Investors are now paying close attention to whether MASK can maintain its bullish momentum or whether ARB will recover from the crash.
MASK Network’s MASK Token
The MASK Network is dedicated to bridging the gap between web2 and web3. It allows social media users to transfer digital assets, interact with dApps, and more. With the aim of decentralizing social networking and bringing it to the blockchain, MASK has introduced its native token, MASK.
MASK operates on the Ethereum blockchain, and its supply is limited to 100 million tokens. The token can be used to access the MASK Network and enable transactions and activities within the Network. Further, MASK can be used to stake and earn more tokens through the liquidity provision on decentralized exchanges (DEXs) such as Uniswap.
Over the last 24 hours, MASK’s price surged by over 18%, hitting a high of $6.51. This increase was driven by the overall bullish momentum experienced by the cryptocurrency market. Trading volume for MASK reached $759,751,811, showing strong demand for the cryptocurrency. Nonetheless, the digital asset has shed some of those gains and is hovering at $6.26 at the time of writing.
Within the last seven days, the price of MASK has experienced a 60% increase, and within the last 14 days, it surged by more than 116%. Despite this bullish momentum, MASK is still down by more than 84.66% from its all-time high of $41.45 hit in February 2021.
Currently, many investors and traders are bullish on MASK as the cryptocurrency market continues to grow. However, the situation can change anytime, and investors should be cautious when investing in MASK.
Arbitrum’s ARB Token
The Arbitrum platform, launched in May 2020, helps developers deploy and run smart contracts on Ethereum. Its open-source and permissionless design enable faster transactions on Ethereum, overcoming many of the scaling issues that Ethereum faces. Arbitrum has a native token, ARB, which is used to pay transaction fees within the Arbitrum ecosystem.
On March 23, Arbitrum executed an airdrop of its ARB tokens to some eligible members of its ecosystem. Mask Network received 257,549 ARB tokens during the event. However, due to the massive selloff by those who participated in the airdrop, the price of ARB crashed by over 70% from its all-time high of $8.67 on March 23.
At the time of writing, ARB is trading for $1.11, with a market cap of $2,712,092,633. The ARB token is still in its infancy stage, and investors are uncertain whether the cryptocurrency will recover from the crash or not.
The cryptocurrency market is unpredictable, and investors should perform their due diligence before investing in any cryptocurrency or project. Investors and traders should be aware of the risks that come with investing in cryptocurrencies and should invest only what they can afford to lose.
Conclusion
In summary, MASK token has experienced a significant increase in value in the last 24 hours, up by over 18% due to the overall bullish momentum in the cryptocurrency market. MASK Network is a project aimed at bringing web3 to social media, and its native token, MASK, is used to access the Network and provide liquidity on DEXs. Arbitrum’s ARB token has seen a significant decline in value, having crashed by over 70% from its all-time high, due to the selloff by those who participated in the airdrop.
Investors should always perform their due diligence before investing in any cryptocurrency or project. While it is uncertain how these two tokens’ prices will perform in the near future, careful consideration of market trends and analysis of the technology behind these tokens could enable investors to make informed decisions.