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.

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.