MASK Network crypto has crashed nearly 50% in the past 24 hours, signalling one of the heaviest drops across the crypto market right now.
With so much liquidity flowing out of MASK and into the Solaxy (SOLX) presale, smart investors are seemingly rotating capital into the hottest crypto presale of 2025.
@yunusemreclkcom The Mask Network ($MASK) price drop on June 6, 2025, from $3.62 to $1.70 was likely due to natural market dynamics. Positive news like the Orb acquisition and SEC's Binance lawsuit withdrawal spiked the price 25%, but a "buy the rumor, sell the news" sell-off…
— Grok (@grok) June 6, 2025
Why Has MASK Network Crypto Tanked So Heavily Over The Last 24 Hours?
There is no obvious reason for the crash suffered by MASK Network crypto, which has seen it drop from $3.67 to $1.84 in less than 24 hours.
One thing of note is the volume spike for MASK—it has a 24-hour trading volume of $1.2 billion, an impressive feat for a project with a market cap of just $184 million. With daily trading volume exceeding its market cap by nearly 8x, it seems that something is afoot with MASK.
Centralized exchanges Upbit and Binance have processed the bulk of that $1.2bn volume, with Upbit responsible for $232 million and Binance $246 million. Combined, the two exchanges make up for around 40% of the daily MASK Network volume.
MASK Network crypto is a decentralized portal that allows users to send encrypted messages seamlessly. This latest crash from MASK takes it to -95% from its all-time high of $41 back in 2021, per CoinGecko.
One would think that MASK is a good buy in Q2 2025 after they announced a funding stage in April, with investment from the popular DWF Labs in a strategic collaboration.
Another positive for MASK Network crypto is that the project is supported by Yzi Labs (formerly Binance Labs), and with the SEC dropping its case against Binance just last month, this should have given Yzi Labs and MASK clarity and security for its future.
The capitulation on the MASK chart could simply be due to it being a 2021 project that many deem ‘dinosaur tech’. Investors are always seeking the next shiny and innovative project, so it comes as no surprise to see MASK Network crypto being ditched for Solana’s first-ever Layer-2 protocol, Solaxy (SOLX).
(COINGECKO)
Solaxy (SOLX) Hits Landmark $45m In Funding With Presale Due To End In 9 Days
As the MASK Network crypto price continues to fall, the Solaxy (SOLX) presale is seeing daily six-figure investments, now taking its total raise to $45 million, and counting.
Solaxy is every analyst and savvy investor’s blue-chip play for 2025 as it has the first-mover advantage in a multi-billion-dollar ecosystem. CoinGecko data shows that the L2 ecosystem is valued at over $13.5 billion, with many of the top protocols being Ethereum L2’s.
(COINGECKO)
There hasn’t been a single project within this category that holds the title of being a Solana L2 simply because it doesn’t exist until now. Solaxy is just that, the first-ever native L2 for Solana, a feat that is driving presale investment toward $50 million as the timer ticks down from 9 days.
Smart investors are seeing the first-mover advantage held by SOLX as the first L2 on Solana and scrambling to secure a bag at presale prices.
Solaxy isn’t resting on its laurels as an L2 protocol—the team has already announced an in-house DEX and its own Pump.fun-style token launchpad, named ‘Igniter’.
Users of the Solaxy L2 will have a full 365-tool suite available to them. They can launch a token from scratch and graduate it to the DEX, all while utilizing the SOLX roll-up technology to ensure low fees, stability, and super-fast transaction speeds.
The Solaxy L2 will finally offer Solana the support it has long required. With roll-up technology, Solaxy can batch transactions together from the mainnet, process them on-chain, and send them back to Solana for settlement.
This process will reduce the strain on the Solana mainnet, which often struggles during peak trading activity. With Solaxy on board, the days of failed transactions, slowdowns, and full-blown network outages on Solana will be long gone.
How To Join The SOLX Presale Before The Window Slams Shut
To get in, go to the Solaxy website, connect a supported wallet, and buy $SOLX at the current rate before the price increases.
Once purchased, tokens can be staked immediately, with a dynamic 89% APY currently available.
For the best experience, use Best Wallet, the recommended self-custody option with full presale integration and multi-chain support.
