Mask network price prediction: What is mask network (MASK)?
It might well be able to combine Web 2.0 and Web 3.0, but what is mask network (MASK)?
Let’s see what we can find out about MASK, and also take a look at some of the mask network price predictions that were being made as of 29 March 2023.
Mask Network explained
One of the many things that its enthusiasts and evangelists like to praise about the blockchain and the phase of the internet known as Web 3.0 is that it offers people privacy.
With concerns about web giants holding too much of their customers’ and users’ data, it is, perhaps, understandable that there are people out there who want to take back control of their own personal information.
Therefore, it makes sense to learn that there are places, platforms and applications that allow people to gain control of their data by publishing web posts and messages on an encrypted basis, and also that some of these platforms are based on the blockchain. The Mask Network is one such program.
Based on the Ethereum (ETH) blockchain, it was founded by crypto entrepreneur Suji Yan in 2019.
The app, which is available on mobile phones, allows encrypted messages to be shared on social media sites such as Twitter and Facebook (META), in effect using the technology of Web 3.0 on the poster children of Web 2.0. The system also allows people to trade both cryptocurrency and non-fungible tokens (NFTs) on social media.
As the system’s website says: “By bringing the amazing decentralised application ecosystem onto traditional social networks, the Mask extension provides a decentralised option for features [that] Web 2.0 users are familiar with.
“We at Mask Network are strong believers in the ownership economy. People should own what they produce, their data, their attention, and the virtual space they choose to contribute to. And we hereby invite everyone who sees this message to join us in the course of regaining control of our personal data.”
Every blockchain-based network needs to have its own native crypto, and Mask Network has the conveniently named mask network token, also known by its ticker handle of MASK.
This token, which was launched in February 2021, is used for governance purposes, meaning that holders can vote on decisions relating to the network. It can also be bought, sold and traded on crypto exchanges.
Something that might serve as a red flag to potential investors is a lack of a proper whitepaper for either the platform or its native token.
It makes sense that someone looking to put their money into a project will seek out as as much information as they can. If they discover that there is comparatively little information available about a token or project, they might decide to put their money somewhere else. In fairness, the platform’s website does have an FAQ section, but it is more about how to do things and less about how Mask Network works and why it does the things it does.
Incidentally, MASK is a token rather than a coin, because the Mask Network is based on the Ethereum blockchain. You might see references to such things as a “mask network coin price prediction”, but such references are, technically speaking, incorrect.
Mask network price history
MASK price history from launch to present – Credit: Capital.comLet’s now cast our eyes over the MASK price history. While past performance should not be taken as any sort of predictor of future results, knowing what the token has done in the past can help give us some all-important context when it comes to either making or interpreting a mask network price prediction.
When MASK first came onto the open market in early 2021, the crypto market was going through a bullish phase, and mask network responded in kind, reaching an all-time high of $97.92 on 24 February.
Although it never reached those heights again and has downtrended, it has performed pretty well, relatively speaking, and spent most of the next few months over $10.
Over the course of the summer, though, poor market conditions saw its price drop further to levels below $5, but there was a resurgence in August to above $15, before another drop turned into a spike in late November that saw it reach just under $20. After that, though, it fell and closed the year at $12.24.
If 2021 was a feast of cryptocurrency, then 2022 has turned out to be something of a famine, with prices dropping pretty much across the board. MASK has not been an exception to this decline.
While it peaked with a daily high of $14.26 on 2 January 2022, it was downhill from there, as Russia’s invasion of Ukraine saw it drop to $3.68 on 24 February. There was a small recovery after that which peaked at $6.43 on 2 April, but then its price fell off as a series of market crashes saw it come down to a low of $1.19 on 18 June.
Although there was a recovery after that, with MASK reaching a daily high of $2 on 11 August, it soon fell once more and reached an all-time low of $0.9752 on 27 October.
However, after that things picked up, with the token’s performance boosted by the news that noted crypto enthusiast Elon Musk had completed his much-vaunted takeover of Twitter and, on 2 November, it traded at a high of $4.41.
The following day it rose again to $5.83. After that, though, the collapse of the FTX (FTT) exchange saw it tumble down to $2.22 on 9 November. After that there was a recovery to around $3.98 on 3 December before it fell back down to close the year at $2.08, a year-on-year loss of more than 80%.
There has been something of a recovery for both the crypto market and MASK so far in 2023. The year started out with a bouyant market propelling MASK above the $5 mark in early February. However, not even the news that Binance had MASK listed in its proof of reserve could stop it feeling the effects of the collapse of the Silvergate bank, and it fell to $2.61 on 10 March. There was a recovery after this and, following the news that it had partnered with both crypto aggregator CoinMarketCap and Ethereum (ETH) scaling solution Arbitrum, it was worth about $6.90, its highest price in more than a year, on 29 March 2023.
At the time of writing, there were 76.15 million MASK in circulation, out of a total supply of 100 million, giving it a market cap of around $524m and making it the 85th-largest crypto by that metric.
Mask network price prediction round-up
With that all over and done with, let’s now take a look at some of the mask network price predictions that were being made as of 29 March 2023.
Keep in mind that price forecasts, especially when they are for something as potentially volatile as cryptocurrency, often turn out to be wrong. Also, many long-term crypto price predictions are made using an algorithm, which means that they can change at a moment’s notice.
First, CoinCodex was fairly mixed when it came to making a short-term mask network price prediction for 2023. It suggested the token could fall to $6.04 by 3 April and then burst out to $10.54 by 28 April. The site’s technical analysis was overwhelmingly bullish at the time of writing, with 25 indicators making positive signals against just two sending bearish ones.
Next, CaptainAltCoin was pretty bearish in the near term with its mask network token price prediction. It argued MASK could shrink to $3.90 in June 2023 before it recovered to $6.60 by March next year. The site then suggested there could be more growth to $10.89 in 2025, before it went on a minor downturn to $10.10 in March 2028. The site suggested it could rise to $27.22 in its mask network price prediction for 2030, before arguing that MASK could reach $54.44 in 2040.
Meanwhile, CoinArbitrageBot was more optimistic in its MASK price prediction, at least intially. It thought the token could reach just below $10.77 this year. By 2024, the site said the crypto could be worth $21.46, before its mask network price prediction for 2025 suggested MASK could trade at around $37.67.
By 2026, the site suggested the crypto could fall to $19.53 before recovering to $32.24 the following year and a little below $52.18 in 2028.
Finally, Wallet Investor made a mask network crypto price prediction that suggested the crypto and its investors were in for a tough time over the coming 12 months, with it predicted to fall to less than $1.84 by late March next year.
When considering a MASK token price prediction, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns, and never trade with money that you cannot afford to lose.
FAQs
Is mask network a good investment?
It is difficult to tell. At the time of writing (29 March 2023) the token had experienced a recovery, but whether this can be sustained remains to be seen. A lot will depend on how the crypto market performs as a whole.
Remember, you should always carry out your own thorough research on a coin or token as to whether it is right for you and your portfolio before making an investment. Even high market cap cryptocurrencies have proved vulnerable to bear markets, so investors should be prepared to make losses rather than just gains and should never put more into a coin ot token than they can afford to lose.
Will mask network go up or down?
It is hard to say. At the time of writing, while CoinArbitrageBot took an optimistic stance about what might happen to the token, Wallet Investor was far more pessimistic. It is important to remember that price predictions can turn out to be wrong more often than not, and that prices can go down as well as up.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether MASK is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors.
Keep in mind that past performance is no guarantee of future returns, and never invest money that you cannot afford to lose.
Should I invest in mask network?
Before you decide whether or not to invest in MASK, you should carry out your own research, both on mask network and other privacy-related cryptos.
Ultimately, though, this is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research. Never invest more money than you can afford to lose because prices can go down as well as up.
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