Mask Network Trading Volume Surpasses Bitcoin in Korean Won Pair on Upbit Exchange
On March 17th, it was reported that in Upbit, the volume of MASK/KRW trading pairs exceeded 272.2 billion won in the past 24 hours, once surpassing BTC/KRW, ran
On March 17th, it was reported that in Upbit, the volume of MASK/KRW trading pairs exceeded 272.2 billion won in the past 24 hours, once surpassing BTC/KRW, ranking first. Up to now, in the Korean dollar trading pair, MASK trading volume is only second to BTC.
MASK KRW trading volume exceeds BTC KRW in Upbit, South Korea Cryptographic Exchange
Analysis based on this information:
On March 17th, news circulated that Mask Network (MASK) trading volume on Upbit, a South Korean cryptocurrency exchange, had exceeded Bitcoin (BTC) in Korean Won trading pairs in the past 24 hours. The trading volume amounted to 272.2 billion Korean won, ranking MASK above BTC and making it the most traded cryptocurrency in the KRW market.
This achievement marks a significant milestone for Mask Network, a decentralized application built on the Ethereum blockchain that enables users to encrypt and transfer messages without compromising privacy. The platform’s native token, MASK, was launched in December 2020 and is utilized for governance and other functionalities within the network.
Upbit is one of the largest cryptocurrency exchanges in South Korea, operating globally with over 200 cryptocurrencies listed. The platform ranks second in terms of trading volume, after the industry giant Bithumb. The exchange has seen a surge in trading activity amid the recent market rally, with retail investors flocking to cryptocurrencies as a store of value and speculative asset.
The surge in MASK trading volume on Upbit can be attributed to several factors, including the recent partnership with Ethereum-based peer-to-peer network, Idexo. The partnership aims to provide a seamless user experience for decentralized finance applications while ensuring privacy and security using Mask Network’s infrastructure. Additionally, the launch of the “Masked AMM” protocol, a decentralized exchange featuring several unique features, may have introduced more traders to the network and increased demand for MASK tokens.
The growing interest in Mask Network and its associated token can also be attributed to the ongoing challenges faced by other privacy-centric cryptocurrencies, such as Monero and ZCash. These coins have been subject to increased regulatory scrutiny due to their anonymity, which has led some investors to seek alternative solutions that provide privacy without raising red flags.
In conclusion, the recent surge in trading volume for Mask Network’s native token, MASK, on Upbit is a significant development, indicating growing demand for privacy-centric solutions within the cryptocurrency space. The partnership with Idexo and the launch of unique features on the Mask Network platform demonstrate the potential for further growth and adoption of the token in the future.
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