Deep Dive
1. KuCoin Listing & 3M MIN Campaign (19 December 2025)
Overview:
KuCoin listed MIN on 19 December, introducing a 3M MIN reward pool (~$23,790 at current $0.00793 price) to incentivize trading and governance participation. The exchange highlighted Minswap’s dominance in Cardano DeFi: 70%+ of network DEX volume, $4B+ cumulative trades, and $62M TVL.
What this means:
This is bullish for MIN’s liquidity and visibility, as KuCoin’s 40M+ user base could drive new demand. However, the token’s -16.38% 30d price drop suggests market skepticism about whether exchange-driven pumps can offset broader altcoin weakness (CoinMarketCap).
2. Bitrue Launchpool Integration (26 November 2025)
Overview:
Bitrue enabled MIN staking rewards via its Launchpool, allocating 1M MIN to ADA/BTR stakers. The campaign coincided with MIN’s spot listing on the exchange.
What this means:
This expands MIN’s reach beyond Cardano-native users, but the timing proved challenging: MIN fell 48.23% in 60 days post-launch, underperforming ADA’s -16% in the same period. The initiative highlights efforts to diversify holders amid weak market sentiment (Bitrue).
3. LP Token Collateral on Danogo (5 August 2025)
Overview:
Minswap V2 integrated with Danogo, letting liquidity providers use LP tokens as collateral for loans while still earning swap fees.
What this means:
This neutral-to-bullish development improves capital efficiency for MIN/ADA LPs but hasn’t reversed TVL declines – Minswap’s dominance fell to 25% of Cardano DeFi by June 2025, down from 33% in early 2024 (Danogo).
Conclusion
Minswap is strategically expanding through CEX listings and DeFi integrations, but MIN’s price struggles reflect Cardano’s fading retail momentum and a 65.8% 90d drop. Key question: Can governance upgrades (like June 2025’s DAO LLC proposal) revive confidence in MIN’s utility beyond farming rewards?