Is Mina coin a good investment?

If you have been looking for recently launched breakthrough projects with high potential, you might have heard about Mina coin. It was launched last year to introduce succinct blockchains. The protocol seems promising as its roadmap involves developments in blockchain software development kit’s (SDKs) and zero-knowledge apps.

Though the project has not seen many developments yet, Mina’s price is growing steadily. If you are wondering about the prospects of investing in this coin, here are some insights!

How does the Mina protocol work?

Mina protocol introduces itself as the world’s lightest blockchain, with a size of only 22KBs. It’s a layer 1 protocol that uses the zero-knowledge succinct non-interactive argument of knowledge (zk-SNARK) for proof. This allows the validator to verify without interacting with the prover directly. You can even operate it offline via your phone as a node.

It’s an enhanced PoS mechanism that allows all members to be involved in consensus. When a block is added to the blockchain, zk-SNARK can take a snapshot for validation. This protocol can be useful for keeping data untraceable and secure.

Mina coin price predictions 2023, 2025, 2030

According to Coingecko, the Mina coin’s current price is $0.92. It has seen a huge dip from last year’s high of $9.91. But considering it is new crypto and the market is going through a tough winter, its price is still reasonable. Current price predictions for the coin are either too bullish or suggest a crash.

The most bullish forecast for the token is from UpToBrain. It predicts that in 2023, its price might recover and hit the $25 mark. Moreover, it is likely to get doubled to $50 by 2025.

Analysts from PricePrediction.net also suggest positive growth of the token. As per their forecast, the cryptocurrency will average $1.49 in 2023. In 2025, it is likely to be hovering around $3.23. By the year 2030, it might cross the $24 mark.

Compared to these predictions, WalletInvestor shows a bleak picture for the project. The forecast suggests that the token’s value might go as low as $0.18. Also, it indicates that it can be quite a risky asset for long-term investment.

Bottom line

Mina crypto is an innovative project that introduces a succinct blockchain. Some of its price forecasts indicate steady growth in its value until 2030. However, as the project has not seen major developments on the blockchain yet, its price might tank quickly with the market’s downward trend. This article does not serve as financial advice.

You should research before making financial decisions since crypto trading involves certain risks.