Mina Protocol is a 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. What about the newest Mina price prediction: How good is Mina protocol? Let’s see if we can find out.
From the Mina whitepaper
The Mina Protocol coin is relatively new. It first came onto the open market in the summer of 2021, giving a limited history on which to base a Mina Protocol price prediction.
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 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 fell below the dollar a few times, 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 early September 2021, MINA kept growing, 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 by 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 about $2.21 and continued on a downtrend, hitting a six-month low of $1.76 on 24 February.
Some recovery was made after that, 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 FTX Ventures and the now-defunct Three Arrows Capital 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 an 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. New all-time lows were reached in June. On 13 June, the token was trading at under $0.57. Statistics from CoinMarketCap show it hit $0.5495 on 18 June.
Had the crypto market finally bottomed out at that stage? At the time of writing on 19 August, the coin is trading at around $0.70, down by 10% after another flash crash in the markets. Mina Protocol has a current market cap of $448m, making it the 82nd-largest cryptocurrency by that metric, according to CoinMarketCap.
Mina price prediction
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 $0.24 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 $0.91 in September 2022, and continue on a steady uptrend to $0.98 in December. The site forecasts the coin will be worth an average of $3.23 in 2025 and $4.88 the year after that, and $7.02 in 2027. The site has also made a Mina Protocol price prediction for 2030, suggesting it will reach an average trading price of $21.95 for that year.
Finally, UpToBrain has a very bullish MINA price prediction, saying it might hit $10 in 2022, $25 in 2023, $40 in 2024 and $50 in 2025.
Is Mina Protocol a good investment?
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.
Will Mina Protocol go up?
Potentially. Again, most of the price predictions suggest that it will, but not all of them. 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.
Final thoughts
Some final things to note. First, 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.
Hope this article can help you get a further understanding about Mina price prediction.
