Mask Network was initially launched in July 2019, with its first use case of allowing Facebook and Twitter users to encrypt posts on the social media platforms. It then raised $2 million in a funding round in November 2020, co-led by HashKey and Hash Global, and a further $3 million funding round in February 2021 with participation from Digital Currency Group and Fundamental Labs.
Now, Mask Network offers the ability to fund Gitcoin grant campaigns directly from Twitter, as well as plans to offer peer-to-peer payments and decentralized storage functionality. It is a decentralized portal that also allows users to use DApps like crypto payments, decentralized finance, decentralized storage, e-commerce (digital goods/NFTs) and decentralized organizations (DAO) over the top of existing social networks without migrating, creating what is referred to as a decentralized Applet (DApplet) ecosystem. (Source : CMC )
What is the trade ?
MASK is banging against the resistance around $18 Area. Technically we believe a big breakout is DUE and likely to come soon. We are looking at buying any dips as well as breakout for our Mid Term Buy & HOLD Portfolio for Triple Digit Returns. In terms of timeline, this may take a while to mature but nonetheless a good candidate for Long Term BUY & Hold Portfolio. We will accumulate and HOLD for Triple Digit Returns. We will update Technical Levels once the price moves above 18-21 Zone. Remember this is not a short term Swing Trade. We may still make decent profits in short term but the Big Juice is likely to happen in Mid Term.
In terms of other ideas we continue to be bullish MANA, SAND, IOTX, LRC, CHR as well as LPT. We are long almost all of them. We may book profits for some fast movers and add them back on dips. We will keep milking the trend as long as the trend lasts. For something like LRC, we are looking for a dump candle before we re enter. MANA & SAND, may spend some more time consolidating before posting reversal moves. IOTX & CHR are most explosive among the Lot at the moment. We are also looking at a little known coin OXT. Waiting for clean breakout before entry. Keep an eye on this space to learn more about our other ideas.