The MASK token associated with the Mask Network has plummeted by a significant 38% following its delisting by Binance. Investors are worried that panic selling may lead to further declines. According to analysts, this fall is exacerbated by heavy trading volume on Binance, which was the primary exchange for MASK trading.

MASKUSDT Sell-Off Triggers Mass Liquidation
Reports indicate a 340% surge in MASK’s trading volume on CoinMarketCap as traders rushed to sell their holdings. Over $4.64 million worth of long positions in MASK were liquidated in just 24 hours, primarily occurring on Binance.

MASK Network

Source: CoinMarketCap

What Led to Binance’s Delisting?
The reason for the delisting from Binance is still uncertain. Speculators are linking it to adjustments in leverage for several meme coins, which caused significant price drops in assets like $MASK and $ACT. There is rising anxiety in the market as liquidity for MASK deteriorates, potentially leading to a negative ripple effect on its future.

Future Outlook

Despite recent challenges—including a significant hack affecting Suji Yan’s wallet—the future remains uncertain. Should market makers step in, there is potential for MASK to recover. However, for the time being, prices continue to slide within a depressed trading environment. Investors might need to closely monitor developments surrounding this token.