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MINA is one of the best-performing assets in the market at the moment. The digital asset is hitting big gains as investor excitement over it continues. However, what are the prospects for this new coin on the rise, and what should interested investors expect?
MINA Outperforms the Market
MINA is the native token for the Mina Protocol – a blockchain variant that looks to optimize transaction speed and security. The Mina Protocol is unique in that it is a lightweight blockchain that maintains a constant block size of just 22 kb regardless of the number of transactions being committed to it.
With this size, the blockchain protocol hopes to allow anyone to operate a node and secure its network without needing special computer hardware. By keeping bloc sizes very small, Mina is looking to overcome the scalability issues that have plagued many blockchain platforms in the past.
MINA token is used for processing transactions and distributing fees between users. It currently trades at $$0.8764, which is an impressive 34.15% gain in the past 24 hours. Considering that the broader market is only up by 1.18% in the same period, it’s easy to see why MINA is such an attractive asset to many investors.
The price gains for MINA have helped the asset’s technicals as well. At the moment, MINA is closing in on most of its short-term moving average (MA) indicators, especially the 10-day MA of $0.877. However, as expected, MINA is trading well above its long-term MA indicators.
With a positive moving average convergence divergence (MACD), MINA is giving off a buy signal. However, the asset’s rise in the short term has led to a massive influx of investors, causing MINA’s relative strength index (RSI) to surge to 61.25, dangerously close to the overbought region.
Mina Protocol Improves Scalability
The surge in the price of MINA could easily be attributed to the current market dynamics. Following a relatively strong weekend, Crypto prices appear poised for even more gains, citing investors. And as a small-cap coin, MINA appears to have moved significantly due to increased liquidity.
However, the Mina Protocol also has a hand in this. The network recently released a proof of concept that would enable anyone to run a web node for the blockchain on their browser. According to the blockchain developers, this can go a long way in optimizing scalability for blockchain platforms across the mobile and Web3 spaces.
Higher scalability should improve the functionality of the Mina Protocol, which, in turn, should help see a hike in the price of MINA.
Impressive MINA Alternatives
While MINA continues to impress investors, there are several assets that could also provide impressive gains going forward.
One such is CCHG, the crypto token for C+Charge – a new blockchain project building a robust peer-to-peer (P2P) payment ecosystem for EV charging stations. The digital asset can be used as a payment method for electric vehicles, offering EV owners massive value. Its presale has already garnered over $460,000, with early-bird investors snapping up the asset at a current valuation of $0.013.
Another good option to consider is FGHT. This move-to-earn token will act as a reward for users of Fight Out. Its presale has been one of the most impressive, with over $3.6 million raised so far.
Finally, MEMAG, one of the hottest presales in the market, is another coin to consider. The digital asset was developed by the Meta Masters Guild – one of the fastest-growing cryptocurrency blockchain gaming platforms of 2023. The token has thus far raised over $2 million in a matter of weeks.
Visit the link below to learn more about the Meta Masters Guild and how to invest.
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