Mask Network (MASK) is a decentralized protocol designed to bridge Web2 and Web3, enabling users to access encrypted messaging, decentralized applications (DApps), and other Web3 services directly on traditional social media platforms like Twitter and Facebook . Launched in 2019 by Suji Yan, Mask Network aims to enhance privacy and user control in online interactions.
Recent Developments
Security Incident
On May 31, 2025, Mask Network's founder, Suji Yan, experienced a security breach where approximately $4 million in crypto assets were stolen from his wallet. The incident led to a 7% drop in MASK's price within 24 hours, highlighting the market's sensitivity to security issues .
Market Performance
Despite the setback, MASK has demonstrated resilience. As of June 2, 2025, MASK is trading at approximately $2.65, reflecting a significant recovery and a 31.42% increase in the last 24 hours . The token's market cap stands at around $261 million, with a circulating supply of 100 million MASK tokens.
Price Predictions
Analysts have varied forecasts for MASK's performance in 2025:
CoinCodex predicts a potential rise to $6.57 by December 2025, indicating a bullish trend .
Bitrue offers a more conservative estimate, projecting MASK's price between $1.96 and $2.27 by late 2025, depending on market conditions .
Telegaon suggests that MASK could reach a maximum price level of $9.44 in 2025, assuming favorable market dynamics .
Ecosystem Growth
Mask Network continues to expand its ecosystem, having funded 89 projects with nearly $1 million in grants since 2022. These projects span Web3 social platforms, public goods, and on-chain games, reflecting Mask Network's commitment to fostering decentralized innovation .
Conclusion
Mask Network's journey in 2025 underscores the challenges and opportunities inherent in the evolving crypto landscape. While security concerns have posed hurdles, the platform's robust recovery and ongoing ecosystem development suggest a promising trajectory. Investors and users alike should monitor Mask Network's progress as it continues to bridge the gap between traditional social media and decentralized technologies.
