The Cryptocurrency Trade of this Week is Mina Protocol (MINA)
which has a market cap of $388 million and is ranked number 81 on Coinmarketcap.
Mina Protocol is a so-called “succinct blockchain” built to curtail computational requirements to make DApps work more efficiently.
Mina has been described as the world’s “lightest” blockchain because its size is designed to remain constant despite growth in usage. In addition, it remains balanced in terms of security and decentralization. The project was renamed from Coda Protocol to Mina Protocol in October 2020.
Despite being like many other interesting blockchain projects, MINA’s share price has fallen hard in recent months.
The share price even reached a low of $0.55 in June, while in November of last year it even hit $6.60.
Recently, the price has stabilized after months of heavy selling pressure.
I consider MINA at the current price of $0.674 to be an absolute bargain and with a ’tight’ stop-loss below $0.55 I am betting on a recovery towards initially $1.50 and then $3.47 being the April high.
PS) We have already included this coin in our crypto portfolio.