By
Kseniia Klichova
February 23rd, 2024
MASK will experience hiccups on its rebound path, however, a focused and consistent building of its proposed qualities can help it return back to its winning days.
Dear readers, it is a lovely day, and Christmas is fast approaching. As best as possible, many are already balancing their books to see how far their investment brought them this year, and to plan for what the coming year has to offer. In today’s episode of the Coinspeaker Advent Calendar, we will be taking a closer look at $MASK, the native digital currency of the Mask Network, in 2023.
Mask Network Fundamentals and Prospects
The Mask Network is a protocol that allows its users to send encrypted messages over top social media platforms, particularly Twitter and Facebook. The protocol was established in 2019, and it has continued to grow in relevance as users in both the Web2 and Web3 worlds seek ways to guarantee privacy in their interactions.
The Mask Network works as a decentralized protocol that essentially acts as a bridge between the internet and a decentralized network running on top. Notably, the acquisition of Twitter Inc by Elon Musk has further placed the Mask Network in the limelight as its core focus still involves giving people an uncensored right to their words.
The Mask Network also has other major plans to bolster its fundamental value-added offerings. It is looking at expanding its reach beyond its role as a massage and file-sharing shield to offering crypto payments, Decentralized Finance (DeFi), eCommerce, and decentralized storage provisions amongst others.
With this purported offering, the Mask Network can significantly increase its relevance in the Web3 world, giving the MASK token a more ready embrace per expanded utility.
The prospects of the MASK token and the parent protocol lie in the fact that the protocol has a growing and enthusiastic community. The token also has a very low price of $3.39, making it an affordable altcoin with a relatively lower market cap of $230 million. This market cap creates a unique room for growth, and also a very good prospect for investors looking to join the likes of HashKey, Digital Currency Group, and Hash Group to bet on the protocol.
MASK Price Forecast for 2023
Since its inception, the Mask Network has printed its All-Time Low price of $0.9752 and an All-Time High (ATH) of $97.92. These are two extremes that suggest there is a more massive upside resistance for the token than downward support at this time.
The graph of the performance of the Mask Network in relation to price is shown below.
For a token that started the year at approximately $13, the current price level confirmed the massively downward-sloping price performance of the protocol.
One thing is, however, obvious from the chart, and it is that MASK exhibited some form of slat moving, depicting resilience, a trait that has given it a marginally better growth advantage than other Ethereum-based tokens.
In terms of the price trend to expect for the coming year, this assumption summarizes our opinion for the end of each quarter in the coming year:
- First Quarter: $6
- Second Quarter: $8.5
- Third Quarter: $11
- Fourth Quarter: $20
MASK will experience hiccups on its rebound path, however, a focused and consistent building of its proposed qualities can help it return back to its winning days.
Thank you for reading, and we hope this info can make a difference if you choose to invest in the Mask Network. Stay tuned on this timeline as more forecasts and analyses are still on our timeline.
