- MINA is one of the frontrunners in the altcoin rally from the past few days after its price rose more than 88% in the past week.
- At press time, MINA was worth $0.7002 after its price rose by 13.93% in the past 24 hours of trading.
- MINA’s price success could be a result of Upbit Korea announcing that it will be listing MINA’s Korean fiat currency trading pair.
Mina (MINA) is one of the tokens leading the altcoin market rally from the past few days after its price managed to surge by more than 88% in the past week. The altcoin’s success over the past few days also landed it the 21st spot on CoinMarketCap’s trending list.
MINA’s success from the previous days seems to be continuing today as its price jumped 13.93% in just the past 24 hours of trading. As a result, MINA was trading at $0.7002 after setting a high price of $0.9298.
Even though Bitcoin (BTC) has gained a lot of dominance after breaking through $34K, MINA was still able to strengthen against the market leader by over 18%. The token’s 24-hour trading volume increased to $1.9 billion after a substantial 1,143.65% surge throughout the past day.
The term “Uptober” is certainly applicable to MINA as the token is in the green by 84.76% on its monthly time frame. Its latest price success caused its market capitalization to increase to $702.18M, which ranked MINA as the 54th largest token in terms of market cap. This placed it right behind USDD (USDD) in the 53rd spot with its market cap of $725,621,160.
The resurgence in MINA’s price was very likely due to an announcement made yesterday by Upbit Korea. Korea’s largest exchange announced on X that it will list MINA’s Korean fiat currency trading pair.
According to the announcement, Upbit requires deposits to be made on the MINA network, and it cannot support deposits from other blockchains like the Binance Smart Chain. Traders should, however, keep in mind that the cryptocurrency exchange intends to implement several trading limitations specifically for MINA.
Originally named Coda Protocol, MINA underwent a rebranding in August of 2019 as a response to a legal dispute initiated by R3, an enterprise blockchain company that was also using the name Coda for its protocol. The MINA blockchain is currently under the governance of the Mina Foundation, a non-profit responsible for overseeing the network.
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