When we look at the crypto money market, we see that Bitcoin is at the level of 23 thousand dollars and the leading altcoin Ethereum is priced above $ 1,600. When we look at the assets that gained the most value in the last 24 hours, we see Mina Protocol in the first place. Let’s examine together why Mina is rising, which has managed to attract attention with an increase of over 32% in the last 24 hours.
MINA Experiences More Than 30% Increase
The native asset of Mina Protocol, a minimal blockchain that runs decentralized applications more efficiently, MINA is up 32% in the last 24 hours and 45% in the past week. Realizing a positive growth since the beginning of the year, MINA has experienced the highest price increase ever this year, with the latest rises.
Why is MINA Rising?
As a result of the collaboration of the MINA project with the blockchain development firm Viable Systems, all users will now be able to run a Mina web node in a browser. Evan Shapiro, CEO of Mina Foundation and Co-Founder of Mina Protocol, made a statement after this development: “Decentralization has always been one of the core values of the Mina ecosystem. Making participation in the Mina network at the node level much more accessible increases decentralization and therefore overall ecosystem security.” used the phrases.
The project is also working to bring zkRollups and zkBridges, which will enable developers on any blockchain to integrate with Mina for complex zero-knowledge smart contract functionality. Mina is a very rich project in terms of use case with zk technology, which provides solutions to problems in the blockchain. However, there are positive expectations among the Mina community that the protocol’s ability to bridge Etheruem is progressing well and the launch could happen fairly soon this year. If this happens, the Mina network can attract other decentralized applications, increasing their efficiency and privacy thanks to its lightness and autonomy. Therefore, according to many analysts, zk rollup developments in the coming days may increase the interest in the Mina network.
What is ZK Technology?
Zk or zero knowledge proof means zero knowledge proof. Zero-knowledge proof is a digital protocol that allows data sharing between two parties without the use of passwords or any transaction-related information.
So what are the advantages of zero-knowledge proof? One of the advantages of zero-knowledge proof technology is that it completely eliminates the use and password requirements of sensitive data. Thanks to this advantage, users can transfer information between two parties without the need to show any data to the other party. The disadvantage of this technology is that if the transaction owner forgets his source password, all data can be lost forever.
He explains his vision, which he shares at Mina Protocol on his official website: “With zero information technology, Mina is building the infrastructure for the secure, democratic future we all deserve.”
MINA Price Analysis
We explained that the increase in the price of MINA is related to the partnership with Viable Systems and their work in the field of zk technology. Now, if you wish, let’s examine the levels to be followed in the MINA price together.
MINA, which has risen to the level of 91 cents with the rises it has experienced, is currently priced slightly above the 80 cent level. If the asset continues to rise, the first resistance level it will encounter is in the 87 cent region. If MINA manages to break the resistance in the 87 cents area and continues its upward trend, the next resistance area is around 94 cents. Breaking the 94 cent resistance may open the door of 1 dollar for MINA. In a possible decline scenario, MINA should not fall below 80 cents. The first support level of MINA is in the region of 80 cents, while the other support level is around 74 cents. Failure to hold on to the 80 cent and 74 cent supports may trigger a regression towards the 70 cent region.
