Elon Musk bought Twitter in the past few weeks. This acquisition process actually took months, and Musk reversed his decision many times until the transaction was completed. So much so that the US judiciary and Binance CEO CZ had to step in to get Twitter. After CZ provided support to Elon Musk, the acquisition took place. However, with Twitter coming under Musk’s rule, a mysterious altcoin project attracted attention. This cryptocurrency has the potential to see huge price increases in the near future.
This altcoin could explode with Elon Musk doping
The name of the mentioned altcoin project is MASK. The asset has seen a huge surge of interest with Elon Musk’s take on Twitter. Accordingly, it has increased its market value by gaining many new users. As we reported on Kriptokoin.com, Binance shared the “Bluebird Index” at the beginning of November, which includes some of the big names in the cryptocurrency industry. According to the list; BNB, DOGE and MASK were on this list. Binance’s “Bluebird Index” was a reference to Twitter’s bluebird. However, no one considered MASK as much as DOGE or BNB in this reference.
So what is the MASK token? The project’s website contains some information on this topic. According to the official statement, the project provides integration with websites that do not support crypto services. To provide this, it works as a browser add-on. The plugin has many functions such as tipping, NFT interactions, crypto money transfer between addresses. In other words, users can perform many Blockchain-based transactions on the Internet with this project.
Will Twitter’s cryptocurrency be MASK?
Mask Network could potentially become the foundation for future integration of digital assets. The amount of technical problems and inconveniences that arise during the use of the extension is quite large. Therefore, the solution developed by the project’s team seems to push the integration of Web3 functionality into the platform. However, some experts suggest that this project and Twitter may come together in the future. This means that an Elon Musk doping could affect the altcoin price.
Some experts are extremely hopeful for MASK. According to them, cryptocurrency has the potential to surprise investors in the future, especially with Twitter’s potential blockchain network. Based on the performance of the altcoin price, more investors are betting on this prediction. It remains unclear whether MASK will become Twitter’s Blockchain ecosystem in the future. But the increase in the number of investors reveals that many believe it.
MASK token short positions explode
However, the cryptocurrency suffered a massive liquidation yesterday. Accordingly, investors liquidated more than $600,000 of MASK tokens yesterday. 98% of these tokens consisted of short positions. Such a high volume of short liquidations suggested only one thing: the altcoin has large buyers in the market ready to create any selling pressure to buy the token.
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