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% up to now day of buying and selling. In line 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
Primarily based on the every 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 every day buying and selling quantity for MASK surged by over 340% in 24 hours.
(Supply)
The spike is principally panic-driven, as merchants face huge losses, delist from Binance, scramble for exits, and exacerbate the sell-off. Â
Hints of panic promoting and liquidation may additional drive MASK/USDT worth motion. Â
In line with Coinglass, over $4.64 million in leveraged lengthy positions had been liquidated in 24 hours, most of which had been on Binance.
(Supply)
Nonetheless, 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. Â
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. Â
Binance’s leverage adjustments hit $LEVER, $MASK, $ACT, and $DF onerous.
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
Nonetheless, given the vital function of Binance in MASK buying and selling, the delisting will severely influence the token, shrinking its liquidity and worsening investor sentiment within the coming weeks. Â
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 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 Masks Community?
In late February, suspicious token flows from the founder, Suji Yan, raised considerations in regards to the undertaking’s transparency and monetary integrity. Â
ALERT
A suspicious tackle obtained almost $4M in digital belongings, together with:
113 $ETH
—
Yan claimed these withdrawals had been seemingly from a hack and happened on her birthday.
I turned 29 yrs previous at present, 6 hours in the past. Round 3 hours in the past – certainly one of my public pockets I carried on my cellphone was hacked and 4m$+ 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… 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 finest meme cash to purchase in 2025.
Crucially, the token is in a precarious place.
(MASKUSDT)
MASK will seemingly proceed sliding except the staff and market makers select to plug in and cease the bleeding, permitting it to get well and even develop into among the finest cryptos to purchase.
There’s hope from a elementary perspective.
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Binance Delisting Crashes Masks Community (MASK) Value
Binance delists MASK, forcing a 38% dumpÂ
MASK buying and selling quantity spikes as buyers scramble to exitÂ
Over $4.64 million of MASK positions had been liquidated throughout exchanges Â
Suji Yan’s wallets had been hacked in late FebruaryÂ
The submit Binance Simply Killed Masks Community Crypto: MASK Value Plummets -38% After Delisting appeared first on 99Bitcoins.
