Mask Network allows the community and MASK token holders to participate in the plan to begin staking MASK.
Holders of MASK tokens will also receive tokens from its main partners and projects associated with Mask Network. Following the announcement of the incentive, the price of MASK surged by 30%.
The price of MASK increased 30% in a matter of hours, driven by a sharp increase in trading volume on Monday. It came about when Mask Network revealed that holders of the future MASK staking offering would get extra tokens from critical partners and initiatives inside the Mask ecosystem.
Mask Network Introduces Staking for Extra Token Benefits
Mask Network, a decentralized social network ecosystem, revealed plans to begin staking to reward MASK token holders and the community. By making this change, the company is demonstrating its dedication to advancing decentralized technology and social media solutions while assisting the ecosystem’s partners, projects, and community.
Holders of MASK tokens will also receive tokens from Mask related projects and its main partners. The staking and reward mechanism will generate opportunities to investigate blockchain services and applications. Thanks to funding from Bonfire Union, the network’s entrepreneurial arm, more than 120 projects have joined Mask Network.
The third round of the Mask Network Web3 Social Ecosystem Grant has just concluded. Mask disclosed that the company will fund 33 initiatives to advance Web3 advancements.
MASK Price Increase of 30%
On the last day, the price of MASK increased by 30%, presently trading at $5.26. $4.23 is the 24-hour low, and $5.50 is the 24-hour high. This suggests that traders and investors are scrambling to purchase MASK tokens to receive more tokens as part of the staking program.
Additionally, there has been a surge in interest, as seen by the trading volume, which has increased by more than 400% in the past day. With roughly $573 million in trading volume, the coin is now ranked 30th in terms of trading volume, according to CoinMarketCap.
Due to investors recording profits, the price fell. Over the previous 24 hours, MASK futures open interest has climbed by 45%; however, in the last hour, it has decreased by 6%. This suggests that spot and futures traders have booked profits.
