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MINA Protocol (MINA) price is gearing up for a major mainnet upgrade, known as Berkeley, which is the final step before the upgrade. The devnet upgrade is scheduled for April 9th and focuses on three key features likely to increase its adoption among users. This is expected to have a significant impact on investor sentiment and consequently on the price. However, a decrease in MINA price is being observed. Let’s look into the details.
What Will the Upgrade Bring?
Considered one of the lightest Blockchains, MINA is currently counting down to its devnet upgrade. The devnet upgrade on April 9th signifies the final step in the process of launching Mina’s major upgrade, Berkeley.
The technical development focuses on three features voted on by the community:
- Easier Zero-Knowledge Application Programmability (MIP 4).
- Introduction of a Robust Proof System (MIP 3).
- Removal of the Short-Term Incentive Supercharged Rewards (MIP 1).
MINA’s official blog post summarizes how contributors have thoroughly tested the network, pushed its limits, and prepared MINA for the final test phase on April 9th. The devnet is an environment designed for experimenting before technical upgrades are released on the main network.
MINA Price Drops by Approximately 4%
As the project prepares to launch the Berkeley upgrade on the devnet, the price of MINA has dropped by about 4% today. MINA is trading at $1.0866 on Binance, reflecting an approximate 7% decline over the monthly period.
Since its local peak of $1.7226 on March 12th, the price of MINA has been on a downtrend, consistently forming lower highs and lower lows on the daily timeframe.
With MINA’s devnet upgrade, the protocol’s innovative features are expected to be adopted by users, marking a new era for the project. The significant Berkeley upgrade is anticipated to strengthen MINA’s technological infrastructure and expand its reach to a broader user base.
What Could Happen Next?
Post-upgrade, expectations for the cryptocurrency MINA include the potential creation of a hype. Specifically, a price target of $2 could be anticipated after this phase. This is because MINA’s circulating supply is 1,083,015,330. This aspect is considered when comparing its price to other cryptocurrencies.
In particular, for MINA to enter the top 20, it needs to reach a market value of $8 billion. For this to happen, MINA’s price would need to surpass approximately $7 and above.
