Binance Launches Bluebird Index: Tracking Crypto With Impressive Returns
The leading cryptocurrency exchange Binance recently launched the “Bluebird Index”, let’s take a brief look at this index through the article.
Bluebird is a crypto index that tracks the performance of tokens $BNB, Dogecoin ($DOGE) and a lesser known cryptocurrency called Mask Network ($MASK), which allows leverage up to 25 times.
“The Index is calculated using a formula that incorporates the weighted averages of the constituent tokens’ real-time prices on the Binance Spot market, denominated in USDT.”
Bluebird Index’s arrival comes as the Twitter acquisition was completed on October 27 by Elon Musk, who is no stranger to the crypto community and industry. Dogecoin is a meme coin that is enthusiastically supported by this billionaire.
The name and components of the index have attracted attention on social media, with some users suggesting that Binance is hinting at coins that will be part of a future Twitter integration into Web3.
As updated in an earlier Coincu News article, Binance CEO Changpeng Zhao has recently explained that the cryptocurrency exchange invests $500 million into Tesla and Space X CEO Elon Musk’s Twitter buyout to “help bring Twitter into Web3 when they’re ready.”
Since the launch of the Bluebird index, the MASK token has been given extra impetus causing the token price to increase by more than 400% in the past 7 days. Currently trading at $5.68.
Mask Network is a protocol that allows users to send encrypted messages on Twitter and Facebook, acting as a bridge between decentralization and the internet.
Mask Network was created to build a bridge between Web2 and Web3 social networks. Mask Network provides a portal that allows the use of encrypted messages, decentralized applications (DApps), trading of crypto assets.
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