MetaMask Airdrop Speculation Rises after LogX Launches Pre-Market Trading

Less than a week after the Securities and Exchanges Commission agreed to drop its lawsuit against Consensys, the software company that created popular crypto wallet Metamask, a pre-market for a MASK token has launched on LogX.

The launch is surprising, given there has been zero information released to the public by Metamask or Consensys regarding a potential MASK token.

“Projects indicating trading, or pre-market trading, of a MetaMask token are unaffiliated with Consensys. There is currently no MetaMask token,” reiterated a Consensys spokesperson.

MASK on LogX’s pre-market currently trades at $4.6, or a $4 billion valuation, but it is worth noting that pre-market trading is often extremely illiquid, and the market has only processed $46,000 in total volume since its launch at 9:30 AM EST.

LogX is a decentralized exchange (DEX) and dApp that hosts perpetuals, options, pre-market, and spot trading, seeded with $6 million from investment firms such as Coinbase Ventures and Sequoia. The protocol recently raised another $4 million in September 2024 from the likes of Cumberland and GateIO.

The speculation comes alongside Metamask’s self-custody debit card release and a logo rebranding, which some believe may be a precursor to additional activations in the ecosystem, such as a token release.

Metamask and Consensys did not immediately respond to requests for comment from The Defiant.