$2 In Sight? Mina Protocol’s 47% Growth Raises Price Target Hopes

Christian Encila

1 year ago

3 mins read

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In the whirlwind landscape of cryptocurrency, the Mina Protocol has taken center stage with an extraordinary 47% surge in its native token, MINA, within the past week.

Currently riding high at $1.40, a level not witnessed since May 2022, MINA’s impressive rally has ignited contemplation among investors: Can it breach the elusive $2 mark in the immediate future?

MINA price action today. Source: Coingecko

Mina’s Surge: CEO Appointment And Swiss Relocation

This surge in MINA’s value is not a mere coincidence; it’s the result of a convergence of significant developments that have unfolded in recent weeks.

December 19 marked a pivotal moment when the Mina Foundation announced the appointment of Kurt Hemecker as the new CEO, a distinguished business development specialist in the FinTech space.

Simultaneously, the foundation strategically relocated its operations to Geneva, Switzerland, amplifying the positive sentiment surrounding MINA due to anticipated regulatory benefits and enhanced networking opportunities within the cryptocurrency community.

MINAUSD currently trading at $1.260 territory. Chart: TradingView.com

Another driving force behind MINA’s remarkable surge is the introduction of the Paima ZK layer. A collaborative effort involving Paima Studios, Mina, ZekoLabs, and Class Lambda, this layer represents a groundbreaking leap in blockchain gaming technology.

It can deploy Zero-Knowledge (ZK) proofs to any Layer 1 (L1) ecosystem, supporting both EVM and non-EVM codebases. The layer’s innovative capacity to enable dynamic scaling of on-chain games, akin to the traditional “world select” in web2 games, adds a novel dimension to MINA’s utility.

The Mina Foundation Board appoints Kurt Hemecker (@khem) as CEO to champion adoption of @MinaProtocol’s ZK tech.

Kurt, previously COO, brings two decades of business development experience from major players including @DiemAssociation and @PayPal.

1/3https://t.co/W1old4fmxJ

— Mina Foundation 🪶 (@MinaFoundation) December 19, 2023

MINA Faces Resistance At Recent Highs

Despite the positive momentum, MINA encounters initial resistance at its recent peak of $1.48, with additional overhead resistance noted between $1.5817 and $1.6337.

While the broader trend remains upward, cautious optimism is warranted as short-term oscillators hint at early signs of peaking momentum, prompting vigilance among traders and investors alike.

Meanwhile, Sebastien Guillemot, the principal developer at Cardano, alluded to significant advancements for the blockchain in 2024 in a recent X post.

With Ethereum sentiments being in the dumps right now, I’d just like to say working with Arbitrum (@arbitrum) has been a great experience 👍

Expect more projects that combine Arbitrum with @cardano and @MinaProtocol in the 2024 👍

— Sebastien Guillemot (@SebastienGllmt) December 26, 2023

Guillemot’s expressed enthusiasm about collaborating with Arbitrum suggests a potential fusion of Cardano with Arbitrum and Mina Protocol.

Paima Studios, under Guillemot’s leadership, has already contributed to the progression of Layer-2 solutions, releasing a solution for Cardano’s on-chain gaming this year.

The alignment with Arbitrum and Mina Protocol points toward a paradigm shift in the blockchain landscape, promising further innovation and seamless integration.

Featured image from Shutterstock

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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