Mask Foundation Transfers 2.5M Tokens to Exchanges: On-Chain Data

• Lookonchain noted that the Mask Network Foundation transferred 2.5 million tokens to exchanges.
• The foundation transferred another 500K tokens out of its wallets that are suspected to show up on OKX.
• At press time, MASK was trading hands at $3.74 after a 5+% drop in the past 24 hours.

The on-chain analytics firm, Lookonchain, revealed in a tweet earlier today that the Mask Network Foundation transferred around 3 million MASK, worth more than $11 million, out of the foundation’s wallets over the past few hours.

Mask Network Foundation transferred 3M $MASK ($11.25M) out today.

Among them, 2.5M $MASK ($9.4M) was transferred to #Binance and #OKX.

And 500K $MASK was transferred out 1 hour ago, which may be transferred to #OKX later.https://t.co/mBI4PbZaLa pic.twitter.com/BXQNceMuxs

— Lookonchain (@lookonchain) June 23, 2023

2.5 million MASK, worth more than $9 million, was transferred to both Binance and OKX earlier today. Meanwhile, the remaining 500K that was transferred has not reached an exchange platform yet, noted Lookonchain. This may be an early indication of a MASK selloff to come in the next 24-48 hours.

On the other hand, the transfer of MASK tok…

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