MMFinance price prediction: The ‘largest ecosystem on Cronos’

Mad Meerkat Finance’s token has a wealth of utility, but has proven to be volatile

A group of meerkats                                 
MMF, an acronym for Mad Meerkat Finance, has one of the lowest trading fees on the Cronos blockchain – Photo: Shutterstock
                                

Contents

After the partnership between Cronos and Crypto.com, there has been a lot of excitement in its native blockchain. MMFinance is looking to take advantage of that with its holistic decentralised finance (DeFi) platform.

From liquidity pools to non-fungible tokens (NFTs) to play-to-earn games, there is a host of utility in its platform and MMF token. But the cryptocurrency has recently fallen to its all-time low. Do forecasters think it can recover? And what does it mean for a MMFinance price prediction?

What is MMFinance (MMF)?

MMFinance, an acronym for Mad Meerkat Finance, claims to have the “largest ecosystem on Cronos”, with its decentralised exchange, liquidity pools, NFTs and stablecoin. This one-stop-shop for DeFi products saw its popularity rise in the first few months of this year.

One of the potential reasons behind this is MMFinance’s low trading fees. With just 0.17% charge a transaction, the DeFi ecosystem claims to have the smallest fees on the Cronos blockchain.

While Ethereum has become a standard choice for most DeFi platforms, MMFinance chose the Cronos Chain because of its up-and-coming nature. The MMFinance whitepaper states Cronos “presents a new frontier with a rapid growing user base of one million users, an easy-to-use platform” and it “can process more transactions per minute than Ethereum, making it faster, cheaper, and greener to execute smart contracts”.

The team behind MMFinance has chosen to remain anonymous. However, a blog post published on Medium.com revealed: “Currently, the MM.Finance team has five developers, one partnership manager and one marketing manager. The team has experience in the DeFi space.”

MMFinance’s DeFi products

Through its development team and partnerships, MMFinance has created a bustling ecosystem of numerous DeFi products. It has standard exchange features for trading, such as a swap platform, a place to make limit orders and even a cross-chain bridge.

Like many DeFi platforms, MMFinance allows users to stake tokens in liquidity pools (LP) and in return earn a portion of its native MMF token. Its whitepaper states: “Each farm has its own [annual percentage rate] APR, depending on the value of LP tokens, reward multiplier and price of $MMF.”

Along with standard features, the DeFi ecosystem has its own NFTs that give holders a boost in farming rewards. A partnership with CROissant has allowed it to host play-to-earn games as well, including a coin toss and roulette.

The MMF token

The driving force behind this ecosystem is the MMF utility token. As previously mentioned, its main use case derives from being rewarded to users who power the platform through yield farms and liquidity pools.

Decentralisation has been shown to be a key part of the token. This is evident in its tokenomics where 80% is allocated to community members, 10% will be use for platform development, 9% for ecological construction and 1% for its launchpad.

While its utility is clear, this has not translated into a consistent price rise. MMF has proved to have a volatile price history.

MMF’s past performance

The cryptocurrency launched on 10 December 2021 via an initial coin offering to the community. During this sale, the MMF token was pegged to 0.33 cronos (CRO). This initial sale ended two days later, after which elements of the platform, like staking, went live.

By the beginning of the following year, MMF was trading at $0.23 on 7 Janaury 2022. It fluctuated around that level throughout the month, but soon started to surge with it hitting $0.79 on 15 February, according to CoinGecko.

This came after a partnership with Mimas Finance, which enabled supplying and borrowing MMF on its platform. A flurry of new token pools were also added to MMFinance’s ecosystem during that period including Betify and CGS.

MMF continued this upward trend and rocketed to its all-time high of $1.85 on 7 April. This followed the first ever governance vote for the platform, which was to update its tokenomics.

The new price record was also accompanied by a rise in its total value locked (TVL) into the platform. It jumped from $524m on 7 March to $1.29bn a month later.

But MMF could not sustain this high valuation of its token. It all came crashing down for the DeFi token with it stuck in a bearish trend. At the time of writing, on 26 May, it has stooped to its all-time low of $0.09.

MMFinance price prediction

There is a range of approaches from online forecasters to an MMF price prediction, some suggest it will see a gradual rise, whereas others predict it will continue to depreciate. Gov Capital falls into the latter with its forecast assuming it will eventually become worthless. Its MMFinance price prediction for 2022 says it will drop to $0 by the end of May and will not recover.

While DigitalCoinPrice does not think it will become worthless, a new all-time high is still out of the picture according to its MMFinance crypto price prediction. An average price of $0.11 is expected for this year and $0.16 in 2025. Its MMFinance price prediction for 2030 is $0.37.

CryptoPredictions is more ambitious about the DeFi token’s future. It suggests MMFinance could reach a maximum of $0.21 by the end of 2022. By the beginning of 2026, its MMFinance coin price prediction anticipates it to hit a maximum of $0.44.

PricePrediction gives one of the most bullish MMF forecasts. Its MMFinance price prediction for 2025 expects it to climb to $0.86. A new price record of $2.77 is then expected in 2028.

FAQs

According to MMFinance’s website, there was a circulating supply of 266 million MMF as of 26 May 2022. While its whitepaper states the total supply of MMF is set at 500 million. 

It might be. There are variety of ways MMF can be earned, including from providing liquidity. However, its value is depreciating, so investors should always do conduct theie own research before staking or purchasing MMFinance.

It depends on who you ask and what their MMFinance price prediction is. Gov Capital suggests it will continue its bearish trend and eventually become worthless. Meanwhile, PricePrediction anticipates it will reach a new all-time high. MMF has proved to be volatile, so investors should remember not to purchase more tokens than they can afford to lose.

MMFinance has developed a bustling ecosystem filled with many DeFi products ranging from liquidity pools to NFTs. Yet its total value locked (TVL) has been declining in recent weeks. Traders should always conduct thorough research before investing.

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.
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image