Investors are interested in Mina’s price prediction following its Coinbase listing, and some think it could be the next crypto to explode. How does the token work, and is it a good investment?
Mina is a blockchain network like Ethereum, Solana, and Cardano. Its official cryptocurrency is the Mina token.
How does Mina crypto work?
The Mina blockchain, built to offer efficiency with cheap and transactions, describes itself as the world’s lightest blockchain—unlike others, it doesn't increase in size with usage. As a result, Mina avoids the network congestion issues and high fees that have plagued Ethereum.
The Mina token powers transactions across the Mina network. Developers can use it to purchase resources they need to run their dapps on the platform, and the token is also used to pay transaction fees. Its total supply is about 820 million units.
Who owns Mina crypto?
The Mina project is backed by various investors. In March 2022, Mina raised $92 million from selling its token to a group of institutional investors that included Three Arrows Capital, FTX Ventures, Amber Group, Pantera, Circle Ventures, and Finality Capital Partners. Those funds will be invested toward attracting Web3 developers to the platform. The Mina team includes a former executive from Meta Platforms’ now-defunct Diem project.
How does Mina crypto staking work?
The Mina blockchain is powered by various participants who perform a variety of roles. Mina investors can earn passive income by joining a staking pool or running their own node.
Mina crypto's Coinbase listing
Mina is now available on Coinbase, the top U.S. crypto exchange. You can buy Mina there with the U.S. dollar or the dollar-pegged USDT stablecoin. Binance, Kraken, Gate.io, Coinlist, Pionex, and Hotbit also list Mina.
Is Mina crypto a good investment?
If you’re interested in getting exposure to Web3 crypto, Mina is an option. Amid the growing distrust of Big Tech, Web3 apps are becoming more popular. In fact, the Web3 sector looks so promising that elite investors such as Andreessen Horowitz are making heavy bets on the space.
Mina crypto's forecast has been boosted by its Coinbase listing
Mina is working on a bridge to other blockchains. If the work is successful, it would make it easier for projects currently on Ethereum and other platforms to come to Mina, increasing demand for the token and its value.
Mina's broad exchange support and its accessibility could lift its demand and price as well. The support of a big platform like Coinbase also lends the crypto credibility. If the pieces fall into place for Mina, the crypto could regain its near-$10 peak in 2022 and maybe even touch a new high.