MASK rate rises by 86% after the announcement of Binance index contract launch

The basket of Bluebird Index also includes Binance Coin and Dogecoin

02.11.2022 - 11:00

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What’s new? The platform Binance Futures announced the launch of USDⓈ-M Binance Bluebird Index perpetual contracts with up to 25x leverage. The launch will take place on November 2, 12:00 UTC on the platform Bluebird futures. The index is denominated in Tether (USDT) stablecoins and tracks Binance Coin (BNB), Dogecoin (DOGE), and Mask Network (MASK). The news led to an 86% increase in the MASK token (Binance’s data).

Announcement on the Binance website

What else is known? Binance Bluebird Index is calculated using a formula that includes the weighted averages of its constituent tokens (BNB, DOGE, and MASK) real-time prices on the Binance Spot.

Following the announcement, the rate of MASK soared from $2,398 to peak values of $4,48, dropping to $3,64 at the time of this writing (November 2, 10:50 UTC).

The Mask Network (MASK) is a protocol that allows one to send encrypted messages on the social networks Twitter and Facebook. It was created by Suji Yan in July 2019. The main goal of the project is to increase privacy when communicating online, sharing cryptocurrency and files, and using decentralized applications (dApps).

On October 31, the staking platform of Binance launched DEX Hashflow, which connects traders with professional market makers. Users can earn native tokens of Hashflow (HTF) by staking BNB tokens and Binance USD (BUSD) stablecoins. As a result of the launch, the rate of BNB increased by 7,5%.

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