Mask Network crypto drops after reported Binance delisting of MASKUSDT. Will panic promoting drive MASK even decrease?
MASK, the token behind the Mask Network, is in free fall, shedding a large 38% up to now day of buying and selling. Based on one analyst on X, the crash follows its delisting from Binance, the place most buying and selling occurred.
$MASK taken down by @binance
nobody ought to cry about this one as they already posted on their X pic.twitter.com/boC0XdKLTd— $0uL (@spetsnaz_3) April 1, 2025
Primarily based on the each day common buying and selling quantity, Binance is the world’s largest and most liquid crypto trade.
As such, the delisting is a large blow for MASK.
MASKUSDT Promote-Off Triggers Mass Liquidation
On CoinMarketCap, the common each day buying and selling quantity for MASK surged by over 340% in 24 hours.
(Supply)
The spike is especially panic-driven, as merchants face huge losses, delist from Binance, scramble for exits, and exacerbate the sell-off.
Hints of panic promoting and liquidation might additional drive MASK/USDT value motion.
Based on Coinglass, over $4.64 million in leveraged lengthy positions have been liquidated in 24 hours, most of which have been on Binance.
(Supply)
Nevertheless, based mostly on buying and selling quantity throughout the identical interval, trackers present elevated exercise constructing on Bitget.
Why Did Binance Delist MASK?
For now, the explanation why Binance delisted MASK stays unclear.
Some hyperlink the drop to yesterday’s leverage adjustments on a number of meme cash, resembling ACT and Tutorial, which led to double-digit declines.
Binance’s leverage adjustments hit $LEVER, $MASK, $ACT, and $DF exhausting.
Automated buying and selling techniques adjusted at 10:30 UTC, April 1, 2025, triggering sell-offs. By 11:00 UTC, elevated quantity unfold throughout exchanges, not simply Binance.
Social media buzzed with confusion, speculating…
— Alva (@AlvaApp) April 2, 2025
Nevertheless, given the essential function of Binance in MASK buying and selling, the delisting will severely affect the token, shrinking its liquidity and worsening investor sentiment within the coming weeks.
When writing, practically 16% of all buying and selling occurred on Binance, the place MASK was paired with essentially the most liquid stablecoin, USDT.
In the meantime, Upbit was additionally fashionable amongst South Korean merchants, producing over 14% of all buying and selling quantity. Right here, merchants can swap MASK for KRW and vice versa.
Is There Hope For The Mask Network?
In late February, suspicious token flows from the founder, Suji Yan, raised issues concerning the undertaking’s transparency and monetary integrity.
ALERT
A suspicious handle obtained practically $4M in digital belongings, together with:
113 $ETH
—
Yan claimed these withdrawals have been seemingly from a hack and happened on her birthday.
I turned 29 yrs previous at present, 6 hours in the past. Round 3 hours in the past – one in every of my public pockets I carried on my cellphone was hacked and 4m$+ belongings was stolen. All of the stolen tx appears handbook and span 11+ minutes.
So both the non-public key was leaked identical day as my birthday and hacker handbook tsf…
— Suji Yan – Mask is BUIDLing (@suji_yan) February 27, 2025
Though MASKUSD costs stabilized after this alleged hack, the Mask Network’s highway forward stays difficult. It trails a few of the greatest meme cash to purchase in 2025.
Crucially, the token is in a precarious place.
(MASKUSDT)
MASK will seemingly proceed sliding except the workforce and market makers select to plug in and cease the bleeding, permitting it to recuperate and even grow to be among the best cryptos to purchase.
There’s hope from a elementary perspective.
With backing from Wintermute and Close to Protocol, Analog is constructing the Omnichain Liquidity Hub. The workforce says this growth aligns with its imaginative and prescient of being a portal to the brand new and open web.
DISCOVER: 9 Excessive-Threat Excessive-Reward Cryptos for 2025
Binance Delisting Crashes Mask Network (MASK) Price
- Binance delists MASK, forcing a 38% dump
- MASK buying and selling quantity spikes as traders scramble to exit
- Over $4.64 million of MASK positions have been liquidated throughout exchanges
- Suji Yan’s wallets have been hacked in late February
The submit Binance Just Killed Mask Network Crypto: MASK Price Plummets -38% After Delisting appeared first on 99Bitcoins.
