The native token of Mina Protocol, MINA, is driving the cryptocurrency rally during a recent rebound that has caused an almost 120% increase in value in the last 24 hours. The cryptocurrency asset increased on October 24th to $0.91.
MINA reached levels not seen since March of this year thanks to the most recent price action, however the token has since lost some of its lustre and is now trading below its local top.
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The largest exchange in South Korea, UpBit, said that it will offer MINA’s Korean fiat currency trading pair, which is what caused the sudden spike.
MINA Token’s Meteoric Rise: Unraveling the 120% Surge in a Day,MINA Token’s Meteoric Rise: Unraveling the 120% Surge in a Day
The notice states that deposits to UpBit cannot be accepted via other blockchains, such as the Binance Smart Chain, and that deposits must be done on the MINA network.
The cryptocurrency exchange also announced its intention to impose different trading restrictions for MINA.
Originally, Mina was called Coda Protocol. In August 2019, a legal lawsuit brought by R3, an enterprise blockchain firm that also used the term Coda for its system, forced a renaming.
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Funding-wise, the business raised an extra $15 million in April 2019 and $3.5 million in May 2018.
Notable funders include Dragonfly Capital, Three Arrows Capital (3AC), Coinbase Ventures, FTX Ventures, Circle, and the now-defunct hedge fund.
Similar to the Ethereum Foundation, the Mina Foundation is a charity in charge of managing the network and is now in charge of the Mina blockchain.
MINA Token’s Meteoric Rise: Unraveling the 120% Surge in a Day,MINA Token’s Meteoric Rise: Unraveling the 120% Surge in a Day,MINA Token’s Meteoric Rise: Unraveling the 120% Surge in a Day, Ripple coin Crypto news, Ripple coin News