MobileCoin price prediction: Mixed thoughts on user-friendly crypto

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MOB has been suffering in the long-running bear market, but a recent rally spells some promise

The MobileCoin logo with a blue background                                 
Users of the Signal messaging app can transfer funds through the integrated MobileCoin feature – Photo: Shutterstock
                                

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The concept behind MobileCoin is simple. It wants to create an easy-to-use cryptocurrency that can be implemented in mobile apps, and it has already started delivering on this promise, after a launch on the messaging service Signal.

Despite a recent rally, the MOB cryptocurrency has been plummeting over previous months, but some analysts think it has the potential to recover. So what is the latest MOB price prediction?

Let’s take a look…

What is MobileCoin (MOB)?

The team at MobileCoin found that many crypto projects have difficult-to-use interfaces, especially when it comes to mobile phones. Its whitepaper states: “Implementors currently face deployment challenges around device resource constraints, transaction times, and key management, all of which often contribute to a negative user experience.”

MobileCoin was developed as a solution to this. It harnesses safe and easy payments, with simplicity supposedly at its core. It boasts “near-instantaneous transactions,” which are encrypted to ensure that personal data is kept secure.

The cryptocurrency has maintained this privacy while also being an open-source project. MobileCoin has several contributors. Developers are able to view what is being worked on and submit requests. These contributors are part of the MobileCoin Foundation, a community of developers building MobileCoin’s vision.

The network was founded by San Francisco-based Joshua Goldbard, who is now acting chief executive. He has previously worked for telecommunication companies such as AT&T and cryptocurrency firms such as Crypto Lotus.

How does MobileCoin work?

User experience is supposed to be at the core of MobileCoin, and it was designed to be integrated into messaging apps such as WhatsApp. A typical user would enter a four-digit PIN to send and receive funds.

Its whitepaper said these transactions should settle in less than a second. Parties should be able to immediately use the received cryptocurrency. 

Despite being integrated in mobile apps, the whitepaper said, MobileCoin was designed in such a way that no third party will learn “anything about a user’s account balance or transaction history”.

MobileCoin could find itself under threat, however, as Meta plans on launching its own crypto project. However, its privacy-first approach could see it become a favoured option for messaging app users.

MOB’s past performance

MobileCoin’s price history can be traced back to 7 December 2020, when it went live on CoinMarketCap at $5.40. It almost immediately dropped down to the $2 level.

Its first and biggest rally occurred in 2021 after the encrypted messaging app Signal integrated MobileCoin into its platform. Signal was using MobileCoin to follow its mission of privacy while also allowing users to send funds between themselves.

MobileCoin went live on the messaging app on 6 April 2021, the same day it skyrocketed to its all-time high of $73.45. The cryptocurrency eventually plummeted and finished off the month below $30.

It saw another slight rally later that year. On 18 August 2021, MobileCoin announced it had raised $66m in Series B funding.

A blog post said: “The round will be used to further develop MobileCoin’s products, including our Merchant Services buildout, and the rollout of our stablecoin, whose value will stay consistent with the US dollar.”

At the end of the month, the cryptocurrency airdropped some of its tokens. UK listeners of its radio show, MobileCoin Radio, were given the opportunity to earn free MOB. However, the price of MobileCoin only peaked at $22.26 on 23 August.

MOB’s value then fell victim to the overall bearish crypto market, and eventually plummeted below the launch price. It fell to its first all-time low of $1.03 on 22 January 2022.

The cryptocurrency rallied slightly after the Binance exchange listed MOB on its platform, and MobileCoin peaked at $7.48 on 29 April. 

After multiple market-wide crashes, MobileCoin suffered huge losses. A new all-time low was established on 18 June 2022, finally dipping below the dollar mark and trading at $0.98.

On 23 June 2022, the token was listed on the CoinEx exchange. Since then, the token has regained some momentum, given the current market conditions, and as of 27 July 2022, the token is trading at $1.10.

MobileCoin price prediction

While the MOB price prediction varies depending on who you ask, there are some very ambitious forecasts out there.

TechNewsLeader said it could reach $3.57 in a year and $16.24 in 2027. The site’s MobileCoin price prediction for 2030 is $50.79.

PricePrediction.net gives a MobileCoin price prediction for 2022 that suggests an average price of $2.31, climbing to $7.15 in 2025. Its MobileCoin crypto price prediction for 2030 expects the coin to hit $41.61.

The MOB coin price prediction from DigitalCoinPrice is more reserved. The cryptocurrency is only thought to average out at $1.49 this year, but sustain a near 50% rally next month. Its MobileCoin price prediction for 2025 says it will be worth around $2.03.

Meanwhile, WalletInvestor describes MOB as a “bad” investment. Its MobileCoin price prediction for 2022 expects it to drop to $0.098 in a year’s time. 

FAQs

There is a circulating supply of 74.2 million MOB, and a total supply of 250 million MOB.

It might be. MobileCoin is simplifying the process of sending and receiving cryptocurrencies. Yet its token is only just showing signs of recovery from a long-term bearish trend.

Investors should always carry out their own research.

Most forecasters expect MOB to see an upward trend over the coming years. However, WalletInvestor thinks it will depreciate below $1 within the next few weeks.

Remember, cryptocurrencies are volatile and you should never invest more than you can afford to lose.

That depends. MobileCoin was designed as a currency to be implemented in apps such as WhatsApp or Signal, and its success will likely depend on how many such apps integrate the cryptocurrency in their software.

It is crucial for investors to conduct their own thorough due diligence before investing.

Further reading

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