Introduction of Mask Crypto
The internet is a powerful tool that enables people to communicate, create, and access information. However, it is also plagued by problems such as censorship, surveillance, data breaches, and centralization. Users have little control over their own data and privacy and are often exploited by intermediaries who profit from their attention and behavior.
To address these challenges, a visionary team led by Suji Yan, a serial entrepreneur, and hacker, launched Mask Network in 2019. It is a protocol that allows its users to send encrypted messages over Twitter and Facebook, as well as interact with decentralized applications (DApps) and Web 3.0 features on top of these platforms.
Mask Network is powered by a native cryptocurrency called MASK, which is used for governance, incentives, and utility within the ecosystem. The holders can participate in Initial Twitter Offerings (ITOs), a novel way of launching decentralized assets fairly, vote on key decisions for the MaskDAO, a decentralized autonomous organization that manages the protocol.
How Mask Network Works
The Network is implemented as a browser extension that can be installed on Chrome, Firefox, or Brave. Once installed, users can log in with their ID and connect their crypto wallets such as MetaMask or WalletConnect.
Users can then use familiar Web 2.0 sites, such as Twitter and Facebook, enhanced with Web 3.0 integrations. For example, users can encrypt their posts or messages with a password or a public key, and only the intended recipients can decrypt them. Users can also view the latest prices of crypto assets, buy and sell NFTs, swap tokens, join giveaways, verify their NFT avatars, create their own Web 3 profiles, and more.
Mask Network Growth and Adoption
The Network has seen impressive growth and adoption since its inception. It has a circulating supply of 76.15 million tokens and a maximum supply of 100 million tokens. It has a market capitalization of over $440 million and ranks among the top 100 cryptocurrencies by market cap. It is traded on major exchanges such as Binance, OKEx, Bitrue, and Bybit.
It has also attracted millions of users, creators, and influencers to its ecosystem. As of December 2021, Mask Network has over 2 million monthly active users across Twitter and Facebook. It has also hosted over 100 ITOs with leading projects such as Gala Games, The Sandbox, Axie Infinity, Rarible, Aavegotchi, and more.
Mask Network Price Journey
The price history has been volatile and influenced by various factors such as market trends, demand and supply, news and events, and technical developments. When it was first listed on cryptocurrency exchanges in February 2021, the token’s price was around $10. However, the price soon dropped to below $1 in March 2021.
The token’s value began to rise significantly in April 2021 but entered a correction after hitting a local high of $23 in May 2021. The price remained below $10 for most of 2021 until November 2021 when it surged to over $20 again.
Current Price Analysis
The current Price is $5.81, with a market cap of $ 442 million and a circulating supply of 76.2 million tokens. On the H4 timeframe level, the price action of $MASK is currently respecting out resistance trendline after bouncing back from its Horizontal Support level as well as facing out Horizontal resistance level.
Future Plans
The Network has a bright future ahead as it continues to innovate and expand its platform. It plans to introduce new features such as Mask SocialFi Wallets that will allow users to manage their crypto assets across multiple chains; Mask SocialFi DAOs that will enable users to create their own decentralized communities; Mask SocialFi NFTs that will allow users to mint their own NFTs based on their social media content; Mask SocialFi Gaming that will integrate popular blockchain games with social media platforms; and more.
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