Masks Community crypto drops after reported Binance delisting of MASKUSDT. Will panic promoting power MASK even decrease?
MASK, the token behind the Masks Community, is in free fall, shedding an enormous 38% prior to now day of buying and selling. In keeping 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 Xpic.twitter.com/boC0XdKLTd
— $0uL (@spetsnaz_3) April 1, 2025
Based mostly on the day by day common buying and selling quantity, Binance is the world’s largest and most liquid crypto alternate.
As such, the delisting is an enormous blow for MASK.
MASKUSDT Promote-Off Triggers Mass Liquidation
On CoinMarketCap, the typical day by day buying and selling quantity for MASK surged by over 340% in 24 hours.
(Source)
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.
In keeping with Coinglass, over $4.64 million in leveraged lengthy positions had been liquidated in 24 hours, most of which had been on Binance.
(Source)
Nevertheless, primarily based on buying and selling quantity throughout the identical interval, trackers present elevated exercise constructing on Bitget.
Why Did Binance Delist MASK?
For now, the rationale why Binance delisted MASK stays unclear.
Some hyperlink the drop to yesterday’s leverage adjustments on a number of meme cash, reminiscent of ACT and Tutorial, which led to double-digit declines.
Binance’s leverage adjustments hit $LEVER, $MASK, $ACT, and $DF laborious.
Automated buying and selling methods 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 position of Binance in MASK buying and selling, the delisting will severely impression the token, shrinking its liquidity and worsening investor sentiment within the coming weeks.
When writing, almost 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 in style 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 in regards to the mission’s transparency and monetary integrity.
ALERT
A suspicious deal with obtained almost $4M in digital belongings, together with:
113 $ETH
—
Yan claimed these withdrawals had been doubtless from a hack and happened on her birthday.
I turned 29 yrs outdated right this moment, 6 hours in the past. Round 3 hours in the past – one in every of my public pockets I carried on my cellphone was hacked and 4m$+ belongings was stolen. All of the stolen tx appears guide and span 11+ minutes.
So both the personal key was leaked similar day as my birthday and hacker guide 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 street forward stays difficult. It trails among the best meme coins to buy in 2025.
Crucially, the token is in a precarious place.
(MASKUSDT)
MASK will doubtless proceed sliding except the staff and market makers select to plug in and cease the bleeding, permitting it to get better and even turn out to be one of many best cryptos to buy.
There may be hope from a basic perspective.
With backing from Wintermute and Close to Protocol, Analog is constructing the Omnichain Liquidity Hub. The staff says this growth aligns with its imaginative and prescient of being a portal to the brand new and open web.
DISCOVER: 9 High-Risk High-Reward Cryptos for 2025
Binance Delisting Crashes Masks Community (MASK) Worth
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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 had been liquidated throughout exchanges -
Suji Yan’s wallets had been hacked in late February
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