With an ATH from its launch last February, the Mask crypto project has experienced difficult first months. But the volume of trading over the past few days could point to growing investor interest. Will this be reflected in the price in the longer term? Can this last? Elements of answer through this article.
What is the Mask crypto project?
Mask Network wants to be the bridge between web 2.0 and 3.0. Through web 2.0, the platform presents the current web with centralized platforms such as the social networks Twitter or Facebook. Web 3.0 would be a network involving the themes of artificial intelligence and decentralized networks.
Mask now comes in the form of an extension that can be downloaded through one of the search engines like Google Chrome. It is then for the user to be able to use social networks such as Facebook or Twitter in an encrypted manner.
But Mask does not stop there since the platform wants to democratize the sending of cryptocurrencies through these social networks. This news is timely when we know the appetite of the management of Twitter for crypto projects.
The MASK token is the governance crypto token around which the project is built. These tokens can then be used to provide advice to the governance of the project or to build DApps.
Focus on the Asset Price in 2021
If we focus on the evolution of the price of the MASK token since the beginning of the year, it is clear that the project remains bearish today. As the graph below shows:
From its launch, the project then falls drastically. From over 80 euros to barely 7 euros at the end of February. The following two months will then be marked by very high volatility. A phase punctuated by a new peak at the beginning of April. A MASK token is then exchanged for more than 20 euros. A level which could then suggest that Mask could regain its launch level in the longer term. It will not be. Week after week, the project continues to decline to find itself below the bar of 3 euros per unit at the end of July.
Good to know : Last May, the Binance platform announced that it was listing the token. Despite a spike visible on the graph, this announcement will not have had any benefit for the project in the long term.
In recent days, it seems that the trading volume is more substantial. A volume that could have an effect on the future price of the token and on the notoriety of the project. At the time of writing, the token is trading for € 8.72.
What to Hope from the Project in the Future?
If we trust the prediction algorithms, TradingBeasts believes that the asset could correct in the coming weeks. At the end of the year, a Mask crypto token could then trade for around $ 10, in an estimated price range of between $ 8.8 and $ 12.9. That is to say a decrease of about 20% compared to the current known price. In the longer term, the models nevertheless estimate that the asset could return to its highest historical level. For this and according to the estimates of the model, it will then be necessary to wait until December 2023. In the high range, a token could then be exchanged for more than 30 dollars on this date.
At the house of DigitalCoinPrice, the models seem much more optimistic. The algorithms estimate that a MASK token can be exchanged for more than 15.90 USD by the end of the year. In the longer term, the rise remains measured since it is not expected that the token will cross the 20 dollar mark before the year 2023. In 2025, the models estimate that the asset could have exceeded 30 dollars. Unheard of since February.
If we focus on the solution proposed by Mask, it is difficult to consider that the application can revolutionize the way of consuming the Internet. Although the topic of confidentiality is starting to really enter the heart of users’ concerns, some observers point to the innovation of the platform, which is not a breakthrough innovation. Among the many questions about this project, we can also cite the only 17% of tokens in circulation. On a project which should ultimately count 100 million.
Risk Disclosure: The articles and articles on Arover.net do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies.
