Mina Price Prediction 2024: It Has a New Roadmap, but This is Where MINA Could Go

Key Takeaways

• MINA has recovered after reaching an all-time low in October 2023.
• The MINA coin supports the intentionally small Mina blockchain.
• As it has set the launch date for a Berkeley update, where can MINA go?
• One Mina price prediction says it can reach $3.19 in 2025. 

MINA was one of the biggest beneficiaries of the market upswing of late 2023. With excitement about spot Bitcoin (BTC) exchange-traded funds (ETFs) mounting, MINA was able to rally.

The Mina Protocol saw change at the top late last year when it promoted former COO Kurt Hemecker  to the CEO’s position.

Mina Protocol’s upcoming upgrade  in June will mark a pivotal moment for the company. This upgrade will introduce enhanced zero-knowledge (ZK) programmability to its mainnet, benefiting millions of end-users by enabling ZK smart contracts, zkApps, layer 2 solutions, and bridges.

Both blockchains and on-chain applications need a universal proof layer to settle proofs from any blockchain or system. The upcoming changes will facilitate this by allowing Mina to consolidate all proofs into a singular “proof of everything.” This proof can be verified on any device and integrated into other applications.

On May 17, 2024 MINA was worth about $0.8042

Mina did not respond to a request for comment.

But what is Mina (MINA)? How does Mina work? Let’s see what we can find out, and also take a look at some of the Mina Price Predictions that were being made as of May 17, 2024.

Mina Coin Price Prediction

Let’s examine some of the Mina price predictions being made on May 17, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

First, CoinCodex  had a short-term MINA price prediction which said the coin would drop to $1.03 by May 22 before recovering to $2.59 on June 16. The site’s technical analysis was bearish, with nine indicators sending bullish signals and 17 making a discouraging one. 

Mina Price Prediction for 2024

DigitalCoinPrice  said that MINA would be worth $1.78 in 2024. CaptainAltCoin  had the coin trading at $2.18 in December. PricePrediction.net  thought it would reach $1.14 this year.

Mina Price Prediction for 2025

Moving on, CaptainAltCoin thought MINA would hit $3.19 next year while PricePrediction.net said it would be worth $1.69. DigitalCoinPrice’s Mina price forecast said it would trade at $2.02 in 2025. 

Mina Price Prediction for 2030

Looking at a more long-term Mina price prediction, PricePrediction.net said Mina would trade at $10.94 in 2030. CaptainAltCoin thought it would stand at $6.86 while DigitalCoinPrice said it would reach $6.05 at the start of the next decade. 

Google BardAI Price Prediction for Mina (as of May 17)

Google’s Gemini platform gave the following price prediction for Mina on May 17. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve. Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next three months)

• Expected price: $2.73

• Factors to Consider:
  • Market trends: The general trend of the cryptocurrency market can significantly impact Mina’s price.
  • News and events: Positive news or developments surrounding Mina could lead to a price increase, while negative news could cause a decrease.
  • Regulations: Government regulations on cryptocurrencies could also affect the price.

Medium Term (Next six months)

• Expected price: $2.60

• Reasons:
  • Overall market trends: If the cryptocurrency market does well, Mina is more likely to go up as well.
  • Adoption of Mina Protocol: Increased use of Mina’s blockchain technology could drive up demand for MINA tokens.
  • News and events: Any major news or events related to Mina Protocol could impact the price.

Long Term (Next five years)

• Expected price: $3.61

• Reasons:
  • Adoption of the Mina protocol by developers and users.
  • Overall cryptocurrency market trends.
  • Regulatory landscape for cryptocurrencies.
  • Technological advancements.

Recent Updates from Mina

Mina announced  in late April that Mina’s Berkeley upgrade is scheduled for June 4, 2024.

MINA Price History

Now, let’s examine some of the highlights and lowlights of the Mina price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a Mina price prediction.

Mina came onto the open market at the start of the summer of 2021. On June 1, it reached an all-time high of $9.91. Unfortunately, the market was in a decline at that time and the price soon shot down. The coin sank below the dollar in late July. However, there was a recovery, and MINA traded at above $5 in September. It stabilized at above $4 for a few months but dropped to close the year at $3.55. 

2022 was a very bad year for cryptocurrency. The collapse of the Terra (LUNA) blockchain saw MINA fall below the dollar in May. Not only that, but the aftermath of the FTX (FTT) exchange’s bankruptcy saw it close the year at $0.4339. This meant MINA lost nearly 90% of its value in 2022.

Mina in 2023 and 2024

2023 ended up being a better year for Mina than would have been expected in the autumn. It started well enough, climbing past the dollar in February.

The coin then fell, and the United States Securities and Exchange Commission, suing the Binance and Coinbase exchanges in June hit it hard. When Crypto.com (CRO) suspended its US institutional arm on June 10, MINA dropped to a low of $0.3756. Following that, there was a recovery. Things looked especially hopeful on July 14. Following a court ruling that Ripple’s XRP was not a security if it was sold on an exchange, MINA rallied to $0.5127. 

There was another downturn, though. When the market collapsed following Elon Musk’s SpaceX offloading millions of dollars worth of Bitcoin (BTC) on August 17, MINA fell to a low of $0.3617. On October 11, it reached an all-time low of $0.352. After that, though, a buoyant market and the news about Upbit saw it reach a high of $0.9298 on October 24. By November 24, MINA was worth about $0.74. The coin rallied following Hemecker’s appointment, closing the year at $1.35. This meant the coin’s price rose more than 200% in 2023. 

The upward momentum continued in 2024, with MINA peaking at $1.68 on January 2. By January 30, it was worth about $1.20. It then dropped, reaching $0.8042 on May 17, 2024.

At that time, there were 1.11 billion MINA in circulation, out of a total supply of 1.15 billion. This gave the coin a market cap of about $887.9 million, making it the 90th largest crypto by that metric.

Mina Historical Price Data

Mina Price Analysis

When it entered the market in June 2021, MINA was worth $19. From then until October 12, 2023, it was in a descending trendline, losing 98% of its value and reaching a low of $0.35. 

However, the trend reversed, and a breakout above this trendline resistance began, suggesting the onset of a potential bullish phase. By January 2, 2024, MINA reached a high of $1.68, approaching its previous resistance level.

It made a three-wave move after a five-wave impulse, leading the price to $0.60. This usually occurs in corrective stages. The daily chart RSI and MACD suggested the April 13 low was the end of this stage. 

Even though the price is still in a downtrend, we can expect a reversal. If this happens, MINA could start a move that would lead the price to a new yearly high. The first likely target would be just below $3, but if the price could reach a new high later on. 

Is Mina a Good Investment?

It is hard to say. The coin has performed well recently, but we don’t know if it can maintain its momentum. 

On the other hand, Mina is an active blockchain that offers investors and developers something different. This may help it stand out in an increasingly crowded market. 

As ever with crypto, you will need to make sure you do your research before deciding whether or not to invest in MINA.

Will Mina go up or down?

No one can tell right now. While the Mina crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Mina?

Before you decide whether or not to invest in Mina, you will have to do your research, not only on MINA but on other coins and tokens such as Solana (SOL) and Cardano (ADA). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Who are the Founders of Mina?

Computing experts Evan Shapiro  and Izaak Meckler  founded Mina in 2017. Shapiro had previously served as CEO of Web3 company O(1) Labs, while Meckler studied mathematics at the University of California, Berkeley. 

Who Owns the most Mina?

On May 17, 2024, one wallet owned 13.80% of the MINA supply.

Richest Mina Wallet Addresses

As of May 17, 2024, the five wallets with the most MINA were

• B62qrQKS9ghd91shs73TCmBJRW9GzvTJK443DPx2YbqcyoLc56g1ny9. This wallet held 144,390,364 MINA, or 13.80% of the supply.
• B62qjsFTBw4TVwRRxNVrmwJfQqXfmMC4DVa2moCe9f8ErvBYd6f7npr. This wallet held 106,329,106 MINA, or 10.16% of the supply.
• B62qp3LaAUKQ76DdFYaQ7bj46HDTgpCaFpwhDqbjNJUC79Rf6x8CxV3. This wallet held 34,243,923 MINA, or 3.27% of the supply.
• B62qpWaQoQoPL5AGta7Hz2DgJ9CJonpunjzCGTdw8KiCCD1hX8fNHuR. This wallet held 31,566,113 MINA, or 3.02% of the supply.
• B62qkRodi7nj6W1geB12UuW2XAx2yidWZCcDthJvkf9G4A6G5GFasVQ. This wallet held 30,270,748 MINA or 2.89% of the supply.

Fact Box

From the Whitepaper

In its technical documentation or whitepaper , Mina says that it is designed to be the “ideal” blockchain. 

It says: “Early blockchains, like Bitcoin and Ethereum, accumulate data over time and are currently hundreds of gigabytes in size. As time goes on, their blockchains will continue to increase in size. The entire chain history is required to verify the current consensus state of these networks.

“With Mina, the blockchain always remains a constant size — about 22KB (the size of a few tweets). It’s possible to verify the current consensus state of the protocol using this one recursive, 22KB zero-knowledge proof. This means participants can quickly sync and verify the current consensus state of the network.”

Mina (MINA) Explained

Blockchains are, by definition, big things. For instance, Bitcoin  is more than 500 GB in size, while Ethereum  is around 1,000 GB. While this gives them a certain power, there are disadvantages. They take up a lot of bandwidth, which makes it hard for regular users to access them. Larger blockchains can also be prone to slowing down, which makes them more expensive. 

Mina  aims to solve these problems by being incredibly small. The Mina blockchain is about 22 kb in size. In other words, it is the same size as a couple of tweets. 

The MINA coin is the blockchain’s native token.  

How Mina Works

Mina uses a Proof-of-Stake (PoW) consensus mechanism. This means that people are selected to verify transactions and add blocks to the blockchain-based on how much MINA they hold. 

Things called Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge, or zk-SNARKs keep Mina small. zk-SNARKs are a form of cryptographic proof that is generated by a new block on the blockchain, proving that the block was valid.

In turn, users, or nodes, can store the zk-SNARK to show the block’s validity, rather than having to store a copy of the entire chain. This means the entire block’s transaction history is shown as being valid. In turn, this means the size of the block is around one kilobyte. In turn, this means that the system can operate without slowdown, at least in theory. 

Mina has three different types of users. Verifiers interact with zk-SNARKs, allowing them to operate. Block producers stake and mine MINA and put transactions into blocks. Snarkers make zk-SNARKs.

Block producers pay them for their snarks. However, there is a de facto auction for zk-SNARKs, since block producers would like to get their zk-SNARKs as cheaply as possible, and snarkers want block producers to get as much as they can for their work.

This means different snarkers can apply to work with the same block producers, with the block producers deciding which snarker offers the best value for money. 

MINA pays for transactions on the blockchain. It can interact with decentralized applications (DApps). People can also buy, sell, and trade MINA on exchanges. 

Mina Attention Tracker

Here is a chart for Mina Google search volume for the past 90 days. This represents how many times the term “Mina” has been Googled over the previous 90 days.

FAQs 

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability, and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.