Mina
About Mina
The price of Mina (MINA) is $0.42126888 today, as of Sep 16 08:26 p.m., with a 24-hour trading volume of $10.46M. Over the last 24 hours, the price has decreased by -5.14%. Mina currently has a circulating supply of 1.16B and a market cap of $487.80M.
Mina (MINA) is the native coin of a lightweight blockchain by the same name. Its main innovation is data compression. The blockchain is just 22 kilobytes, no greater than a handful of tweets. By comparison, the Bitcoin blockchain is more than 400 gigabytes in size, and every node must download a complete copy of it. To achieve its small size, Mina uses zero-knowledge technology – a privacy-preserving data-compression technique that processes transactions with minimal metadata.
Mina’s was conceived in June 2017 by U.S. blockchain software development company O(1) Labs, and it went live in the first quarter of 2021. Trading of the network’s tokens commenced in May 2021 following the sale of 75 million tokens for 25 cents each that raised almost $19 million.
MINA reached a high of $4.55 a few days after it started trading. The price, though, fell sharply to about $1 by July 2021. MINA then rode the autumn 2021 crypto market surge. It hit an all-time high of $6.15 in September 2021 and reached a market cap of $1.7 billion in November 2021. By March 2022, however, MINA’s price had fallen to $1.70.
The platform launched with an annual inflation rate of 12% to encourage stakers. It plans to reduce that rate to 7% by 2026, where it will remain thereafter.