Bitcoin

Mina

Rise

<h4>The <a href="https://www.coingecko.com/en/coins/mina-protocol" target="_blank" rel="noopener">MINA token</a>, the backbone of the zero-knowledge (ZK) proof-powered Mina Protocol, has been one of the high performers of the last week. The token’s value has almost doubled in the last few days.</h4> 
Mina has seen a 57.9% price increase in the past 7 days. MINA’s price increase even reached 100% at its highest point earlier in the week, demonstrating the cryptocurrency’s explosive surge. Let’s discover why this happened. But first, let’s understand more about Mina’s blockchain. 
<h5>What is Mina’s Blockchain?</h5> 
The Mina Protocol calls itself the “lightest” blockchain in the world. It achieves this tag via its regular and small block size. The block size remains constant, irrespective of the number of smart contracts on the network or transactions. And this is all thanks to the use of <a href="https://www.altcoinbuzz.io/?s=ZK+rollup" target="_blank" rel="noopener">ZK-proof technology</a>. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 300,000 blocks rolled up into one constant-sized proof <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 That is the power of infinite recursion <a href="https://t.co/DvwlFTkUG8">pic.twitter.com/DvwlFTkUG8</a> 
 — Mina Protocol <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fab6.png" alt="🪶" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@MinaProtocol) <a href="https://twitter.com/MinaProtocol/status/1717624387124203933?ref_src=twsrc%5Etfw">October 26, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<a href="https://minaprotocol.com/" target="_blank" rel="noopener">MINA’s blockchain</a> seeks to reduce the amount of computing power needed to run dApps more effectively. Since its release, it has amassed a sizable user base and ecosystem that depend on its speed, effectiveness, and minimal processing power. 
Although MINA is still a mid-cap cryptocurrency, it has seen excellent traction in recent years and is regarded as one of the digital currencies whose technical stack is essential to the development of the larger crypto sector. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 The Mina network is currently experiencing extremely high levels of transaction volume, resulting in high demand for SNARK workers. 
 Community members are encouraged to spin up additional nodes to address the demand for SNARK work and aid network processing. 
 — Mina Protocol <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fab6.png" alt="🪶" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@MinaProtocol) <a href="https://twitter.com/MinaProtocol/status/1716784015431094737?ref_src=twsrc%5Etfw">October 24, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h5>What’s behind the price surge of MINA?</h5> 
The main force behind MINA’s rising momentum is an announcement shared by the South Korean crypto exchange Upbit. The crypto trading platform announced plans to list MINA, boosting the token’s value. 
South Korea has one of the fastest-growing crypto communities. So, Upbit’s move to list MINA on its platform is a significant milestone that could attract a large number of retail cryptocurrency investors. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 ❐ <a href="https://twitter.com/search?q=%24Mina&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Mina</a> offers an elegant solution using advanced cryptography and recursive zero-knowledge technology. 
 This brings us to the most important features that <a href="https://twitter.com/search?q=%24mina&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$mina</a> protocol delivers. 
 The following are the unique feature of <a href="https://twitter.com/search?q=%24mina&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$mina</a> : 
 — 2xnmore (@2xnmore) <a href="https://twitter.com/2xnmore/status/1716680658830213147?ref_src=twsrc%5Etfw">October 24, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Upbit requires MINA deposits to be made through the Mina Protocol’s blockchain. And this will boost on-chain activity, hence strengthening the protocol’s expansion. 
The broader optimism within the crypto market is another reason for MINA’s surge. Crypto users believe that the US Securities and Exchange Commission (SEC) will approve <a href="https://www.altcoinbuzz.io/?s=bitcoin+etf" target="_blank" rel="noopener">Bitcoin ETFs</a>. This has also contributed to MINA’s surge. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Mina is zero knowledge proofs all the way down. 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"> ZK blockchain that stays a constant size <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"> ZK proving system that is composable <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"> ZK smart contracts for private applications 
 — Mina Protocol <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1fab6.png" alt="🪶" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@MinaProtocol) <a href="https://twitter.com/MinaProtocol/status/1715084148098863589?ref_src=twsrc%5Etfw">October 19, 2023</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
&nbsp; 
MINA is also profiting from the popularity of ZK-rollup technology. Many predict that this technology could completely transform the blockchain ecosystem in the future. The Mina Protocol competes with the likes of Polygon. ZK-proof technology provides advantages such as security,&nbsp;decentralization,&nbsp;speed, and cost-efficiency. 
Although Mina’s <a href="https://www.coingecko.com/en/coins/mina-protocol" target="_blank" rel="noopener">market cap</a> is around $607 million the project has room for growth. We could easily see those numbers climb if the protocols retain this level of growth and adoption. Besides, Mina has the right fundamentals for continuity. Also, projects such as Coinbase are some of Mina’s backers. 
<iframe title="Top projects on COSMOS for Crypto's Next BULL RUN" width="696" height="392" src="https://www.youtube.com/embed/_UiVKgHqqsc?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
<h5>Disclaimer The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</h5> 
The post <a rel="nofollow" href="https://www.altcoinbuzz.io/cryptocurrency-news/why-did-mina-rise-57-in-the-last-7-days/">Why Did Mina Rise 57% in the last 7 Days?</a> appeared first on <a rel="nofollow" href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

Why Did Mina Rise 57% in the last 7 Days?

Altcoin Buzz

Other articles published on Oct 27, 2023

Metropolitan Police’s Use of Facial Recognition Sparks Controversy

Render (RNDR) price rallies as community passes key proposal

$10M in cryptocurrency is transferred to exchanges in just 5 hours using wallets connected to FTX...

Bitcoin Price Consolidates; Bullish Breakout Likely?

SBF trial day 14: FTX’s Bankman-Fried blames Alameda’s Ellison for absent hedging

Gemini Filed $1.6 Billion Bitcoin Lawsuit!

Join our free newsletter for daily crypto updates!