The price of $MASK surged by approximately 44% in the last 24 hours. This sudden increase can be attributed to a market maker who received 3.5 million $MASK from the address “0x5459” 19 hours ago.
Furthermore, multiple addresses associated with the market maker withdrew $MASK from various exchanges in a sequential manner, which further fueled the price hike. It appears that the market maker is working to drive up the price of $MASK once again. It will be interesting to see how the market responds to this development in the coming days.
The price of MASK increased by ~44% today.
This market maker received 3.5M $MASK from address “0x5459” 19 hrs ago.
At the same time, multiple related addresses withdraw $MASK from exchanges one after another.
Drive up the price of $MASK again!https://t.co/5zDPsZMi8Y pic.twitter.com/iXa7mc6nR8
— Lookonchain (@lookonchain) March 18, 2023
According to Rekt Capital, Bitcoin (BTC) appears to be poised to confirm a new bull market, which could start a new macro money flow cycle. This is an exciting time for cryptocurrency enthusiasts as BTC has shown resilience despite recent market fluctuations.
Bitcoin’s recent price movements suggested a possible repetition of its history in 2019 when it broke out of its $6,000 price range. The current price of Bitcoin has broken through the $27,000 mark for the first time since June 12th, triggering both FOMO and drop fears among investors.
A massive Bitcoin transaction worth $1 billion has been sent to the address 3M219KR5vEneNb47ewrPfWyb5jQ2DjxRP6, making it the largest on-chain transaction of the year. The same address held an all-time high of 143,310 BTC in October, which was emptied out in November. The address now holds 40,141 BTC.
🐳 A $1B #Bitcoin transaction has been sent to 3M219KR5vEneNb47ewrPfWyb5jQ2DjxRP6. This is the largest $BTC on-chain transaction of the year. The address held a high of 143,310 $BTC in October, was emptied out in November, and is now back to 40,141 $BTC. https://t.co/l9K3Qu8J2M pic.twitter.com/1yVJpKqjPK
— Santiment (@santimentfeed) March 16, 2023
The transaction has caught the crypto community’s attention, sparking speculation about the identity of the sender and the reason behind the transaction. Some analysts believe that the transaction could be related to institutional investors or high-net-worth individuals.
At the time of writing, Bitcoin is trading at $27,542.
This means that some traders are taking profits while others are worried about a potential drop in the market. The market is currently in a state of flux, and it remains to be seen which way it will ultimately go.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.