Mina blockchain’s native token MINA is making its way to exchanges for trading. Last month, the MINA token sale on CoinList raised $18.7 million worth of funds.
Lightweight blockchain Mina is making some big moves recently with its native cryptocurrency MINA going live for trading at some of the biggest crypto exchanges. On Monday, May 31st, crypto exchange OKEx announced listing MINA crypto for its spot trading markets.
Besides OKEx, on June 1, MINA is reported to have gone live for trading on the Kraken crypto exchange. The users of Kraken can start deposits and withdrawals for MINA starting today. However, the trading of MINA shall not be available in some of the jurisdictions like the US, CA, AU, and JP.
Deposits begin now & trading is live June 1 at approximately 00:00 UTC. https://t.co/fufl1rf1z1
* Trading is not available to clients in US, CA, AU & JP. pic.twitter.com/2QCk5mgmew
— Kraken Exchange (@krakenfx) May 28, 2021
Started four years back in 2017, the Mina Protocol refers to itself as the first-ever “compressed” blockchain platform. Unlike other blockchain networks that have a high barrier to entry for running nodes or validating blockchain transactions, Mina is extremely light allowing anyone to connect peer-to-peer while letting them quickly sync and verify the chain.
Besides, the Mina network uses a “consistent-sized cryptographic proof” model. Thus, the blockchain network offers the same accessibility even when it scales. Mina also employs the zk-SNARKS aka zero knowledge of proofs. These are basically micro-crypto certificates stored by nodes for verifying transactions in a private and efficient manner. The entire Mina blockchain network is only 22KB in size and is only equivalent to the size of a few tweets.
Mina’s CoinList Sale
Last month in May 2021, the Mina Protocol participated in a CoinList Token Sale. The Mina Foundation had dedicated 7.5% of the total MINA token supply. The MINA Foundation managed to sell its stipulated supply within four hours raising 418.7 million.
Before this – O(1) Labs – Mina blockchain’s parent company raised funding from investors like Polychain. Three Arrows Capital, and others in the earlier rounds. CoinList Head of Sales Mike Zajko said that during the MINA token last month, there were a number of institutionally-liked CoinList users who participated. Zajko said that many more players would have participated if Mina sold more tokens.
At press time, the MINA token is trading at around $3.14 with a market cap of $464,395,992. It demonstrates a quite significant growth from the token sale price of $0.25. The highest MINA price according to Coinmarketcap was $5.07.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.