MetaMask, the well-known crypto wallet in the Ethereum ecosystem, has officially denied the existence of a MASK token after it appeared on the speculative markets of the LogX platform. Supported by Coinbase, this decentralized platform recently listed pre-market contracts for this nonexistent asset, causing confusion within the crypto community.
Rumor of a MetaMask Token
However, on the LogX DEX, the MASK listed in ‘pre-market’ reached a valuation of nearly $5 billion, suggesting a coordinated launch…
The price of MASK later dropped to just over $4 billion, reaching $4.2 on LogX at the time of writing.
LogX and Speculation on Pre-Markets
LogX, which offers derivative products such as perpetual contracts, options, and spot trading, clarified in its warning that assets listed on its platform are not necessarily validated by the teams of the projects concerned. The presence of the MASK token in these pre-markets does not mean its official existence or future creation.
The DEX went even further, stating that these innovative pre-market tokens could be considered memecoins:
“We want to take a step forward for user security and say that you can treat pre-markets like memecoins where traders speculate on the approximate valuation of the project at TGE.”
This initiative comes as the SEC has just dropped its charges against the MetaMask wallet tool developed by ConsenSys. This decision marks a regulatory turning point for the company, reopening speculation about a token airdrop.
ConsenSys Maintains the Token Project, but without a Deadline
The idea of a MetaMask token is not new. In March 2022, ConsenSys CEO Joseph Lubin mentioned the possibility of “progressive decentralization” through a token and a DAO. However, no launch date has been announced since then, leaving doubts about the realization of the project.
Lubin, while celebrating the victory against the SEC, emphasized the importance of defending blockchain developers against regulatory threats. And the official MetaMask account, through a post on X, later insisted that no token project was in progress.
