Low-cap altcoins have surged following crypto giant Binance’s announcement.
major exchanges To tell We are launching a new perpetual contract called the Bluebird Index.
The index tracks the prices of Binance Coin (BNB), Dogecoin (DOGE) and Mask Network (MASK) and allows up to 25x leverage.
With this announcement, MASK’s price jumped 80% in about 3 hours, going from a low of $2.30 to a high of $4.16.
The Bluebird Index appears to reference Twitter and Elon Musk’s interest in Dogecoin, with Binance investing $500 million in Musk’s acquisition of Twitter.
The index immediately sparked speculation about what role BNB and MASK might play in Twitter’s future.
— Thomas (@crypto_TomTom) November 2, 2022
The Mask Network prides itself on being a network designed to bring Web3 functionality to social media platforms such as Twitter and Facebook.
A list of potential features for the platform’s browser extensions includes payments and tips, decentralized asset trading, NFT trading, and decentralized file storage.
MASK runs on the Ethereum network and also on the Polygon and BNB chains. This token is designed to reward active users of the protocol and give them a voice in governance.
The project will start in February 2021, with a MASK price of $3.67 at launch. This is down about 88% from the coin’s high of $30.44.
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Olivier Le Moal