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In this article, you will learn what the Binance Bluebird indicator is. Leading cryptocurrency exchange Binance has recently launched the Bluebird Index. Bluebird is a crypto-index that tracks the performance of BNB tokens, Dogecoin (DOGE) and a little-known cryptocurrency called Mask Network (MASK) that allows leverage up to 25x. Further on in Pooyan Music, we will examine more details about this indicator.
The Binance Bluebird Index is a cryptocurrency index that tracks the performance of the top 50 DeFi (decentralized finance) tokens on the Binance Smart Chain (BSC). The name of this indicator is taken from Bluebird, which is the official mascot of Binance smart chain.
The Bluebird Index was created by Binance in 2021 to provide users with an easy way to track the performance of DeFi tokens on the Binance Smart Chain. The index is weighted based on market value. The indicators in the index are reviewed and updated quarterly to ensure that the index remains relevant and accurate.
Investors can use the Bluebird Index to gain exposure to the DeFi market on the Binance Smart Chain without having to purchase and manage individual tokens. This indicator is available for trading on Binance and can be traded against other cryptocurrencies or fiat currencies.
Returning to the Binance Bluebird Index, the procedure is very straightforward. First, you can trade it as a perpetual futures contract. Second, unlike COIN-M futures, where we use the respective digital currencies, the Binance Bluebird index uses the USD-M index, whose market is based on USDT.
You can even use it as a crypto indicator to see growth in the current three components. To access it, you just need to search for the symbol BLUEBIRDUSDT on the USD-M index page.
To trade the Binance Bluebird index, you must first log in to Binance. Once there, here are the steps to follow:
Step 1: Go to the “Derivatives” counter and select “USD-M Futures”.
Step 2: Once there, select BLUEBIRD USDT from the symbols page to start trading.
Step 3: You can transfer funds (USDT) from your Spot wallet to USD-M wallet for trading.
Step 4: You can set a limit order and place the order. As mentioned, the minimum order value should be 0.6 BLUEBIRD or 5.640 USDT.
You can buy BLUEBIRD for long holding or sell BLUEBIRD for short term profit. After placing orders, you can view them in the Open Orders tab.
And this is how Binance Bluebird indicator trading works.
Amidst speculation about payment integration, NFT markets and Twitter scaling, the Binance Bluebird Index has high hopes. This article is about what is Binance Bluebird Indicator.
