Binance Just Killed Mask Network Crypto: MASK Price Plummets -38% After Delisting

Masks Community crypto drops after reported Binance delisting of MASKUSDT. Will panic promoting pressure MASK even decrease?

MASK, the token behind the Masks Community, is in free fall, shedding an enormous 38% up to now day of buying and selling. In accordance with 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

Based mostly 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 an enormous blow for MASK.

MASKUSDT Promote-Off Triggers Mass Liquidation

On CoinMarketCap, the typical each day buying and selling quantity for MASK surged by over 340% in 24 hours.

(Supply)

The spike is principally panic-driven, as merchants face large losses, delist from Binance, scramble for exits, and exacerbate the sell-off.  

Hints of panic promoting and liquidation might additional drive MASK/USDT worth motion.  

In accordance with 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 modifications on a number of meme cash, equivalent to ACT and Tutorial, which led to double-digit declines.  

Binance’s leverage modifications 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 crucial position 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 probably the most liquid stablecoin, USDT.

In the meantime, Upbit was additionally well-liked 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 Masks Community?

In late February, suspicious token flows from the founder, Suji Yan, raised issues concerning the venture’s transparency and monetary integrity.  

ALERTOur AI-powered system has detected suspicious transactions linked to @suji_yan, founding father of @realMaskNetwork!

A suspicious tackle acquired practically $4M in digital property, together with: 113 $ETH 923 $WETH 301 $ezETH 156 $weETH 90 $pufET 48.4K $MASK 50K… pic.twitter.com/G8iCUzjJFV

— Cyvers Alerts (@CyversAlerts) February 27, 2025

Yan claimed these withdrawals have been seemingly from a hack and passed off on her birthday.

I turned 29 yrs previous in the present day, 6 hours in the past. Round 3 hours in the past – considered one of my public pockets I carried on my telephone was hacked and 4m$+ property was stolen. All of the stolen tx appears handbook and span 11+ minutes.

So both the personal key was leaked identical day as my birthday and hacker handbook tsf… https://t.co/SkuIb2nrPf

— Suji Yan – Masks is BUIDLing (@suji_yan) February 27, 2025

Though MASKUSD costs stabilized after this alleged hack, the Masks Community’s highway forward stays difficult. It trails among the greatest meme cash to purchase in 2025.

Crucially, the token is in a precarious place.

(MASKUSDT)

MASK will seemingly proceed sliding except the group and market makers select to plug in and cease the bleeding, permitting it to get well and even change into among the best cryptos to purchase.

There may be hope from a elementary perspective.

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DISCOVER: 9 Excessive-Threat Excessive-Reward Cryptos for 2025

The submit Binance Simply Killed Masks Community Crypto: MASK Worth Plummets -38% After Delisting appeared first on 99Bitcoins.

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