Many cryptocurrency projects have entered our lives, especially during bear markets, but they have failed to deliver the expected performance due to lack of demand. However, there are those who started operating close to the recent bull season and were caught unprepared for bear markets. MINA Coin is one of them and has been silent for a long time.
MINA Coin News
The biggest feature of the MINA blockchain is its low block size. This aims to become a network that can even run on browsers in the future. When you want to run a Bitcoin node today, you need to consider significant storage space, memory, and internet traffic. Now imagine running your own node in your browser without even feeling it.
Nodes or validators are crucial for network security. If you are running your own node, even if you are the only node on the network, the network activity continues. On the other hand, the number of nodes is the biggest indicator of decentralization and security. For example, running a Solana validator requires extremely fast internet and massive storage space. The MINA Coin team eliminates this problem with their “low-size blocks.”
Let’s digress for a moment. MINA combines this with the ZK technology, which giants like Polygon have recently implemented. But there is a small problem. MINA has not yet been able to create its own ecosystem. In other words, there are no popular applications you can use on the network. Now the team is focusing on this issue. According to the announcement made this evening, LuminaDEX, the first DeFi platform on the network, completed its strategic investment round.
MINA, which wants to support its own ecosystem, was among the investors through its foundation. You can already see the other participants.
MINA Coin Price Analysis
Although the future looks bright for most experts, the MINA Coin price reached its all-time low (ATL) at $0.355 this month due to the recent drop. It quickly recovered from there, but surviving in bear markets is not easy. Now, even though BTC has surpassed $26,400 again, gaining 2% daily, we may not see the momentum of the rise until it surpasses $0.417.
If a real recovery has started from the ATL level, the resistances at $0.449 and $0.524 will be tested. The final target to be overcome is at $1.24.
