Mina Protocol price prediction: Is MINA due a major boost?

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Will the Mina Protocol coin go up, or will MINA stay small?

Black-and-white graphic of the Mina logo                                 
Mina Protocol is small, but can its price get big? – Credit: Currency.com
                                

Contents

Mina Protocol is the so-called succinct blockchain that aims to make crypto more accessible by only ever operating at 22 kilobytes in size, and MINA is its native token.

Although it was only launched in 2021, it has already won over a fair few admirers and investors. But what of the future? What is the Mina Protocol price prediction? Let’s see if we can find out.  

The Mina Protocol coin is relatively new. It first came onto the open market in the summer of 2021 so, at the time of writing, there are only nine months of history on which to base a Mina Protocol price prediction.

From the Mina whitepaper

The Mina: Economics and Monetary Policy whitepaper was published in October 2020 and is seven pages long.

The document states: “As cryptocurrencies become more popular and widely used, the cost to verify the blockchain grows proportionally with total transaction throughput, and quickly becomes out of reach for most real-world users. In this way, cryptocurrencies can end up victims of their own success, becoming increasingly inaccessible to their users who in turn are required to trust intermediaries.”

The document goes on to say: “Mina Protocol solves this problem by replacing the blockchain with an easily verifiable proof. Such a protocol requires a careful separation of roles, incentive design and sound monetary policy to function properly and resist exploitation.” 

MINA price history

MINA launched in the early summer of 2021 and, at the start of trading on 1 June, was worth $9.90, before going up by a cent to reach an intraday and all-time high of $9.91. Unfortunately for early investors, this launch price was seen by the market as overvaluing the coin and it soon fell hard to an intraday low of $2.76 before recovering to a mark of $3.24, an in-day drop of around two-thirds.

In truth, this newer price seemed to be more suitable for the coin. It stabilised at somewhere between $2 and $3 for the next few weeks but, with the cryptocurrency market going through a notably bearish period, the price went down, and by the end of the month MINA was trading at below $2, closing June at $1.52, a fall of nearly 85% from the start of the month.

July was a month where the coin’s price failed to reach even the relative heights of early June, and MINA ended up falling below the dollar at some points, with a price of $0.9233 representing an all-time low. Fortunately for investors, this drop was only temporary, and the price closed the month significantly above the $1 mark at $1.49, which represented a monthly drop of less than 2%.

August saw recovery in the cryptocurrency market, and Mina Protocol was caught up as prices rose again. MINA broke back through $2 on 3 August and topped $3 on 10 August, closing the month at $3.60, a month-on-month rise of more than 140%. In September, MINA kept growing early on, with the coin reaching a monthly high of $6.48 on 14 September. There was, however, a fall in the second half, and the coin closed the month at $4.07. This still represented a rise of just over 13% from the end of August

In October, MINA remained in the $4 to $5 mark, apart from a brief period in 26 October when it reached $5.33. The direction of travel was, overall, upwards and the end of October saw a month-on-month rise of just under 10% at $4.45. November was another relatively positive period for MINA, with the coin’s final price coming in at $4.55, a rise of around 2.25%. In December, however, it was hit by uncertainty in the cryptocurrency market and, as of 21 December, it was trading at around $3.20. 

By the new year, the coin was valued at around $3.59. Many cryptocurrencies struggled over this period, and MINA was no exception. By the end of January 2022, the coin was trading at around $2.21 and continued on a downtrend, hitting a six-month low of $1.76 on 24 February. However, some recovery was made after that price point, and the coin opened on 1 March 2022 at $2.23. However, the coin inched back down towards the middle of the month to $1.62, again the lowest price recorded in more than six months. 

The Mina ecosystem raised $92m in a token sale co-led by Three Arrows Capital and FTX Ventures on 17 March. The coin closed that day at $2.14 and saw a steady uptrend from that price point over the following weeks. In a surprise listing on 23 March, US-based cryptocurrency exchange Coinbase Pro announced that Mina Protocol (MINA) would trade as a pair with Tether (USDT) once appropriate liquidity conditions are met. The coin rallied to highs of $3.50 on 5 April, but the price has since retreated.

Following a market-wide crash, MINA hit its first all-time low on 12 May, and the token was valued at under $0.83. Despite recovering slightly, there was another market crash approximately four weeks later, which saw the total value of the crypto market sink below $1trn. Another all-time low was hit on 13 June, when the token was trading at under $0.57.

As of 16 June and at the time of writing, the coin is trading at around $0.62. Mina Protocol has a current market cap of over $507m, making it the 88th-largest cryptocurrency by that metric, according to CoinMarketCap

MINA price forecast

It must be noted that forecasts are very often wrong and that many longer-term crypto predictions are made using algorithms, which can change at any time. 

With that as a given, WalletInvestor has an incredibly bearish Mina Protocol price prediction for 2022, suggesting the coin will be worth around $0.03 by the end of the year.

CryptoNewsz is more optimistic when it comes to a Mina Protocol crypto price prediction. The site says that MINA could reach as high as $3.77 at the end of 2022, before going up to $4.37 towards the end of next year. The forecast for 2024 sees the coin potentially reach $5.94, and the Mina Protocol price prediction for 2025 could be as high as $5.78.

Meanwhile, PricePrediction.net has a Mina Protocol coin price prediction that says it should reach a trading price of $1.06 in July 2022, and continue on a steady uptrend to $1.22 in December. The site forecasts the coin will be worth an average of $3.98 in 2025 and $5.78 the year after that, and $8.98 in 2027. The site has also made a Mina Protocol price prediction for 2030, suggesting it will reach an average trading price of $25.74 for that year. 

Finally, UpToBrain has a very bullish MINA price prediction, saying it will hit $10 in 2022, $25 in 2023, $40 in 2024 and $50 in 2025.

Final thoughts

Some final things to note. Firstly, MINA is a relatively new coin. We still don’t know how it will respond to sustained highs and lows in the cryptocurrency market.

Second, while a smaller, more manageable blockchain is an intriguing idea, the Mina Protocol has not been operational for long enough for us to say that it is 100% reliable. There is also the matter that another succinct blockchain might come along and steal the protocol’s spot in the cryptoverse. These things should be taken into consideration when deciding whether or not to invest in MINA.

FAQs

Maybe. While most of the longer-term forecasts are positive, there is still some pessimism surrounding the token. The coin certainly has some way to go before it matches its initial highs and whether it can do that is another matter entirely. As ever, you should do your own research, never invest more money than you can afford to lose and remember prices can go down as well as up.

Potentially. Again, most of the price predictions suggest that it will, but not all of them, and, besides, crypto price forecasts often get things wrong. You will need to remember that there is every possibility the price of MINA could go down, so never invest more money than you can afford to lose and do your own research.

This is a question that only you can answer. Before you do that, though, you will need to research the Mina Protocol project – remember prices can go down as well as up, and do not invest more than you can afford to lose. 

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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