Binance Has Just Annihilated Mask Platform Crypto: MASK Value Drops -38% Post-Delisting
The crypto for Mask Protocol sees a significant drop following Binance’s news to delist MASKUSDT. Will frantic selling push MASK even further down?
The token associated with Mask Network, MASK, has plummeted dramatically, losing a staggering 38% in just the last day of trading. One analyst on X attributes this decline to its removal from Binance, where a majority of trading activity took place.
$MASK removed by @binance
No need to lament this; they already shared info on their Xpic.twitter.com/boC0XdKLTd
— $0uL (@spetsnaz_3) April 1, 2025
Given its daily average trading volume, Binance stands as the most prominent and liquid cryptocurrency exchange globally.
Thus, the delisting represents a significant setback for MASK.
MASKUSDT Dump Sparks Widespread Liquidation
According to CoinMarketCap, in a 24-hour span, the average daily trading volume for MASK skyrocketed by more than 340%.
(Source)
This surge is largely driven by panic as traders incur substantial losses, exit from Binance, and intensify the price drop.
Signs of panic selling and liquidation could further influence MASK/USDT price trends.
As per Coinglass, within the last 24 hours, liquidations of long leveraged positions exceeded $4.64 million, predominantly occurring on Binance.
(Source)
However, data indicates growing trading activity on Bitget during the same timeframe.
What Caused Binance to Delist MASK?
At present, the exact reason for Binance’s decision to delist MASK is not clear.
Some attribute the decline to recent leverage adjustments affecting several meme coins, including ACT and Tutorial, leading to considerable drops.
Binance’s leverage modifications impacted $LEVER, $MASK, $ACT, and $DF significantly.
Social media buzzed with uncertainty, prompting speculation…
— Alva (@AlvaApp) April 2, 2025
Nevertheless, due to Binance’s pivotal involvement in MASK trading, the delisting will profoundly affect the coin, diminishing its liquidity and negatively shaping trader sentiment in the foreseeable future.
At the time of writing, almost 16% of total trading took place on Binance, where MASK was paired with the most stable and liquid stablecoin, USDT.
Simultaneously, Upbit also garnered popularity among South Korean traders, contributing over 14% of overall trading volume. This exchange enables traders to swap MASK for KRW and vice versa.
Is There a Future for the Mask Network?
In late February, dubious token transfers from the founder, Suji Yan, sparked alarm regarding the project’s transparency and financial integrity.
A suspicious digital wallet accumulated nearly $4M in digital assets, including:
—
Yan asserted that these withdrawals were probably due to a exploit and coincided with her birthday.
I celebrate my 29th birthday today, 6 hours ago. About 3 hours later – one of my public wallets on my phone got hacked, leading to over 4m$ in stolen assets. All the theft transactions seem to have been executed manually and took over 11 minutes.
So either the private key was compromised on my birthday or the hacker manually transferred the assets… https://t.co/SkuIb2nrPf
— Suji Yan – Mask is BUIDLing (@suji_yan) February 27, 2025
Although MASKUSD prices normalized following the suspected hacking incident, the future of the Mask Protocol appears daunting. It falls behind many of the top meme coins for 2025.
Importantly, the coin is in a vulnerable state.
(MASKUSDT)
MASK is likely to keep declining unless the project team and trading market makers intervene to halt the pessimistic, which would enable recovery and possibly elevate it to being one of the top cryptocurrencies to invest in.
There remains hope from a fundamental viewpoint.
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DISCOVER: 9 High-Risk High-Reward Cryptos for 2025
Binance Delisting Causes a Crash in Mask Platform (MASK) Prices
- Binance axes MASK, resulting in a 38% drop
- MASK trading volume spikes as traders rush to exit
- Liquidations of over $4.64 million in MASK positions across exchanges
- Suji Yan’s wallets were compromised in late February
The post Binance Just Killed Mask Network Crypto: MASK Price Plummets -38% After Delisting appeared first on 99Bitcoins.
