The Mask Network (MASK) price initiated a sharp upward move on Nov. 2 due to positive news from Binance. MASK rose nearly 90% on November 2, rising from lows of $2.29 to reach highs of $4.46.
Binance announced that it would launch the Bluebird Index perpetual contracts with up to 25x leverage. The index will comprise Binance Coin (BNB), Dogecoin (DOGE), and Mask Network (MASK).
Crypto exchange Binance seemed to be adding to the attention surrounding the Twitter acquisition with its new cryptocurrency index that tracks the price of BNB, DOGE, and MASK. The Bluebird index does not explicitly cite the social media network but its name could be related to Twitter’s logo.
MASK also surged before and after the Twitter takeover by Elon Musk. From lows of $1.0 on October 25, MASK reached highs of $3 on October 29 before a slight retreat. The rally resumed with MASK spiking from lows of $2 on October 31 to reach highs of $4.46 as of press time.
Mask Network is a protocol that allows users to send encrypted messages on Twitter and Facebook, operating like a bridge between decentralization and the internet. At the time of writing, MASK was trading at $3.79, up 66% in the past 24 hours and up 236% since the past week.
Since the past week, conversations across the crypto sector and social media have been that of the Twitter acquisition by Tesla CEO, Elon Musk.
The rise of dog-themed coins since the past week has been spawned majorly by the recent development with Dogecoin surging over 150% shortly after the Twitter acquisition. Shiba Inu likewise gain almost 55%, following Dogecoin’s rally.
Dogelon Mars (ELON), a coin based on Elon Musk, and his love for space travel have also seen investors’ and traders’ interest, initiating a major move during the period. Since the week’s start, there has been some lull in the crypto market price action. This is obvious given most cryptocurrencies are in the red in the last 24 hours amid low volatility.
Dogecoin and Shiba Inu also fell as their wild rallies unwind. More surprising is dogelon Mars which suddenly gained 18% after these meme cryptocurrencies cooled off.
ELON spiked nearly 50%, rising from lows of $0.0000004 to highs of $0.0000006 today. As of press time, ELON/USD was valued at $0.0000005 on Gemini Exchange. Dogelon Mars is now the third largest meme cryptocurrency and now sits at the 118th spot, according to data from Coinmarketcap.
The reason for ELON’s sudden price gain after a cool-off by top cryptocurrencies, SHIB and Dogecoin, remains yet unknown.
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