Mask Network price prediction: Mixed sentiment for encryption project

MASK governance token’s limited utility could stymie long-term price growth

Lock and email graphics emerging from laptop screen                                 
Encrypt your social media messages with Mask Network – Photo: Shutterstock
                                

Contents

What is the Mask Network?

Mask Network is an encrypted messaging application available for download from the App Store and Google Play. Founded by Suji Yan in 2019, the web extension uses ciphertext and AES data keys to to encrypt messages to be shared over Twitter, Facebook and Mind.com, an open-source social media platform with a penchant for far-right content and home to widely banned conspiracy peddler Infowars.

MASK is a governance token, allowing holders to have a say in protocol development Through the MaskDAO decentralised autonomous organisation. Launched in February 2021, MASK token operates on a one token = one vote basis, and must be staked for a minimum of seven days prior to a voting period to be valid.

Mask Network also facilitates ITOs (“initial Twitter offerings"), essentially token drops performed via the social media network. A token swap and file-storage network are also integrated into the application.

Mask Network: Tokenomics

As of 30 June 2022, MASK was changing hands for $1.52 with a market capitalisation of $44.15m. The 24-hour trading volume of $47.25m was 106% over market capitalisation. MASK has a circulating supply of 29,130,722 out of a supply cap of 100 million tokens. Many major centralised exchanges, including Binance, Coinbase, Huobi Global, Kraken and Gate.io support MASK, as does the Uniswap decentralised exchange.

MASK has traded sideways since 12 May, primarily having remained between the $1.25 to $1.90 price bracket up to July. Heavy 2022 losses were logged prior to that. The token opened the year at $12.25 and continued to trade bearish thereafter. At the time of writing, MASK was 87.5% below the 1 January opening price.

The February 2021 token drop was distributed as such:

  • Foundation reserve: 39.55%

  • Early-stage investors: 14.25%

  • Community airdrop, public offering and token round: 22.2%

  • Team: 23%

  • Liquidity pool: 1%

Tokens have a three-year vesting period ending in 2024. Barring governance, MASK coin does not serve a primary function in Mask Network’s encryption platform. Investors should consider whether this general lack of utility will hinder the long-term growth of the cryptocurrency.

Mask Network price prediction

PricePrediction has a Mask Network price prediction for 2022 of $2.02, heading up to $6.50 in 2025. These MASK token targets represent gains of 32% and 327%. The forecaster’s Mask Network price prediction for 2030 is $39.30, suggesting 25 times gains for today’s investors.

TechNewsLeader’s forecast starts at $2.46 for 2022, while the Mask Network price prediction for 2025 of $7.78 implies potential gains of 389%. The 2030 target of $49.40 implies a possible 31.6 times gain against today’s trading value.

WalletInvestor is bearish on MASK coin price prediction, offering a 2022 target of $0.15 and a 2025 target of $0.26. These numbers suggest respective losses of 90% and 83%.

Keep in mind that the above Mask Network price predictions, while maybe useful as a guide, do not constitute genuine financial advice. Any financial investment should be backed up by thorough your own due diligence and independent, third-party financial advice.

Future plans

What is Mask Network’s next step? According to a blog post, the enterprise hopes to integrate its encryption protocol into Instagram. Other goals include:

  • Optimisation of Facebook & Minds.com

  • Improve and develop social graph functionalities

  • Launch Next.ID, a digital identity system

  • Launch the Mask Network ecosystem fund with strategic investors

  • Integrating decentralised applications (DApps) through community bounties, to support the Mask Network ecosystem growth

  • Adding greater multichain support

  • DAO voting forum and exploring an efficient governance model

Make sure to stay tuned to Currency.com to keep up to date on all things related to the Mask Network.

FAQs

Mask Network is an encrypted messaging application available for download from the App Store and Google Play. Founded by Suji Yan in 2019, the web extension uses ciphertext and AES data keys to encrypt messages to be shared over social media.

Mask Network price predictions are mixed. Some forecasters see the token going down and others suggest that it could net decent returns. You are advised to conduct your own research into the project before deciding to make any investment.

MASK has a circulating supply of 29,130,722 out of a supply cap of 100 million tokens.

Sentiment remains mixed on MASK coin, so potential investors need to do their own research first. No information presented in this article is presented as financial advice.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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