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Nullmask token shows risky concentration as a ZEC whale buys millions, raising caution for investors.

Market News
20 Oct 2026
UToday
View Source
Bearish
Nullmask token shows risky concentration as a ZEC whale buys millions, raising caution for investors.

A Zcash whale has purchased 3.69 million Nullmask (MASK) tokens worth about $151,000, drawing attention to the project. However, nearly 40% of MASK tokens are held by a single wallet linked to the protocol treasury, with the top ten holders controlling over 56% of the supply. This high concentration, combined with limited liquidity and a market cap far exceeding protocol value locked, poses significant risks of price volatility and selling pressure. Investors should be cautious despite Nullmask's privacy-focused technology and ongoing token buybacks, as the token's valuation and distribution raise red flags.

Nullmask (MASK) token concentration is notable with nearly 40% held by one wallet, as highlighted in recent news. For readers following the broader crypto market, here is Pluang's snapshot as of Oct 20, 2026 15:21 WIB: out of 50 major cryptocurrencies, 18 rose and 31 fell. Among selected assets, SAND dropped 5.09% to Rp1.012 with a typical hold time of 123 days and a 56% buy order activity; ZIL fell 4.75% to Rp39 with 58% buy activity; FIL declined 3.46% to Rp18.295 with 90% buy activity.

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