MASK Crashes 50% as Trading Frenzy Erupts—$1B Volume Floods In
Blood in the water—MASK token holders watched half their value evaporate overnight while traders piled in like Wall Street sharks smelling a wounded fish. The 560% volume spike screams panic, FOMO, or maybe just another Tuesday in crypto.
What’s the play? Dump-and-pump shenanigans? Exchange shenanigans? Or just proof that ‘market irrationality’ is the only financial law that never gets repealed? Grab popcorn—this volatility isn’t done yet.
Source: CoinMarketCap
Known for enabling encrypted messaging and decentralized app interactions, Mask Network has been a key player in the Web 3.0 messaging space. Its market cap has peaked to $512 million in March 2024, prior to declining gigantically this year.
The sharp drop in MASK price is currently attributed to an NFT integration HYPE that set up a bull trap, followed by recent market turmoil. The mammoth trading volume, which is double the market cap of MASK, is also a key factor behind this enormous volatility in the token price.
Also read: Ethereum Traders Lose $310M in 48 Hours, Will ETH price Crash?
