MINA Token Uptober Rally: Registers an Astounding 88%+ Gain in a Week

Crypto News– Mina (MINA) has been a standout performer in the recent surge of the altcoin market, with its price surging by an impressive 88% in just the past week. This remarkable rally has not only caught the attention of crypto enthusiasts but has also propelled MINA to the 21st position on CoinMarketCap’s trending list, a testament to its growing popularity.

MINA Token Uptober Rally: Registers an Astounding 88%+ Gain in a Week

MINA’s upward trajectory doesn’t seem to be slowing down. In the past 24 hours alone, it recorded a substantial 13.93% increase, pushing its price to $0.7002, with a recent peak at $0.9298.

What’s particularly intriguing is that while Bitcoin (BTC) has made significant gains and reclaimed market dominance by surpassing the $34,000 mark, MINA has managed to outperform the market leader by an impressive 18%. The token’s trading volume in the last 24 hours saw a staggering surge of 1,143.65%, reaching $1.9 billion.

MINA’s performance in October can be aptly summarized with the term “Uptober.” It has surged by an impressive 84.76% over the course of the month. This surge in price has catapulted MINA’s market capitalization to $702.18 million, ranking it as the 54th largest token by market capitalization. It now stands just behind USDD (USDD), which holds the 53rd spot with a market capitalization of $725,621,160.

This recent resurgence in MINA’s price is largely attributed to the announcement made by Upbit Korea. South Korea’s largest cryptocurrency exchange revealed that it would list a Korean fiat currency trading pair for MINA, further solidifying the token’s position in the cryptocurrency market.

In accordance with the official announcement, Upbit has laid out specific trading conditions for MINA. Notably, they require that deposits must be exclusively made on the MINA network, with deposits from other blockchains, such as the Binance Smart Chain, not being supported. This approach highlights the importance of utilizing the MINA network for all transactions related to this cryptocurrency.

Traders should take into consideration that the cryptocurrency exchange is planning to implement various trading restrictions tailored specifically for MINA. These limitations are likely aimed at ensuring a seamless and secure trading experience for users, while also adhering to any regulatory requirements and network-specific considerations.

It’s worth noting that MINA, previously known as Coda Protocol, underwent a rebranding in August 2019. This rebrand was a response to a legal dispute initiated by R3, an enterprise blockchain company that was also using the name Coda for its protocol. Since then, MINA has successfully established its identity and has continued to evolve.

The governance of the MINA blockchain is currently under the purview of the Mina Foundation, a non-profit organization responsible for overseeing the network. The foundation plays a pivotal role in shaping the future of the MINA ecosystem, ensuring its stability, and promoting its growth.

MINA Token’s Remarkable Surge: The Impetus Behind Its 120% Rally

MINA, the native token of the Mina Protocol, has taken the crypto market by storm with an astounding 120% surge within just 24 hours, reaching a peak of $0.91 on October 24th. This surge marks a return to price levels last witnessed in March of this year, signifying a resurgence that has captivated the crypto community’s attention.

The driving force behind this sudden price surge can be primarily attributed to South Korea’s largest cryptocurrency exchange, UpBit. UpBit’s recent announcement to list a Korean fiat currency trading pair for MINA has ignited a surge of interest and excitement within the crypto market. However, it’s crucial to note that deposits to UpBit must be made on the MINA network itself, with support for deposits from other blockchains, such as the Binance Smart Chain, not being accommodated. Additionally, UpBit plans to implement specific trading limitations for MINA to ensure a smooth trading experience.

MINA, formerly known as Coda Protocol, underwent a rebranding process in August 2019, prompted by a legal dispute initiated by R3, an enterprise blockchain company that was also utilizing the name Coda for its protocol. In terms of funding, the project secured $3.5 million in May 2018 and further bolstered its financial resources with an additional $15 million in April 2019.