Whale Moves 3.26 Million MASK Tokens to Binance
- Whale transaction increases MASK liquidity and affects prices.
- Price declines over 45% within 24 hours.
- Rumors of a wallet hack remain unconfirmed.
A whale address, 0x3610, has recently moved 3.26 million MASK tokens to Binance. Reports confirmed that the operation seems to be strategic financial gain through profit-taking. Estimated profits reach approximately $2 million.
The unauthorized transaction stirred market conditions for MASK, evidenced by a sharp price decline of over 45%. This caused significant investor concern amid unverified rumors of a hack involving Mask Network leadership wallets.
Increased liquidity on Binance has amplified trading volumes, but MASK’s volatility surged due to massive sell pressure. This pattern aligns with historical precedents where large sales impacted prices negatively and temporarily increased volatility.
There are no official responses from Mask Network leadership about the whale deposit or rumors of a hack. The incident fuels community speculation and investor anxiety over wallet security. The situation underscores the importance of monitoring large-scale token movements and regulatory responses. Historical trends show such transactions typically influence short-term market behavior, necessitating close observation for further insights.
“The whale’s deposit of 3.26 million MASK tokens at $6.1 million USD as of 5:00 AM UTC on June 7, 2025, could pressure MASK token liquidity on Binance and may signal potential short-term price volatility as significant holdings move to exchanges.” — Lookonchain, Analyst, Lookonchain
