This article centers around a thorough assessment of MIR coin’s technical and fundamental attributes using data obtained from www.coinmarketcap.com . Our MIRort aims to address vital inquiries regarding the projects associated with the cryptocurrency ; determining significant factors affecting its market value ; reviewing which are reliable exchanges for trading it ; identifying traded currency pairs ; exploring assorted key metrics that demonstrate critical aspects of performance such as highest low price values attained among other essential economic indicators. We will also provide regular weekly graphical or technical analyses aimed at assisting potential investors evaluate feasible investment risks areas while identifying prospective profits.
What is Mirror Protocol (MIR) Coin?
The Mirror Protocol (MIR) coin is a cryptocurrency that powers the Mirror Protocol, which operates on the Terra blockchain .
Mirror Protocol is a decentralized synthetic asset protocol that enables users to create and trade synthetic assets known as “mirrored assets.” These mirrored assets are designed to mimic the price movements of real-world assets such as stocks, commodities, or exchange-traded funds (ETFs) .
The MIR token serves multiple purposes within the Mirror Protocol ecosystem. It acts as a governance token , allowing holders to participate in decision-making processes related to protocol upgrades and other important matters . Additionally , users can stake their MIR tokens to earn rewards and receive fee discounts when using the platform .
Furthermore , MIR token holders have voting rights for determining changes in collateral ratios and other parameters within the protocol .
It’s essential to conduct thorough research before making any investment decisions regarding MIR tokens or any other digital asset .
Projects:
The Mirror Protocol (MIR) has several key projects and initiatives within its ecosystem:
1. Synthetic Assets : The core project of the Mirror Protocol is the creation and trading of synthetic assets known as “mirrored assets .” These assets are designed to mirror the price movements of real-world assets, such as stocks, commodities, or ETFs .
2. Smart Contracts : Mirror Protocol utilizes smart contracts on the Terra blockchain to facilitate the creation, management, and exchange of mirrored assets . These smart contracts ensure transparency , security , and trustlessness in asset tokenization .
3. Governance Mechanism : The MIR token serves as a governance tool within the protocol’s ecosystem. Token holders have voting rights in decision-making processes related to protocol upgrades , parameter changes, or other important matters concerning the development and operation of the platform .
4. Staking Rewards : Users can stake their MIR tokens in designated pools to earn rewards for supporting network security and stability . This incentivizes community participation while providing potential returns for stakeholders .
5. Fee Discounts : Holding and using MIR tokens on the platform allows users to benefit from fee discounts when conducting transactions or interacting with mirrored assets on Mirror Protocol .
6. Community Development Grants Program : To foster innovation within its ecosystem, Mirror Protocol offers grants programs designed to support developers building applications or tools that enhance or integrate with their protocols .
These projects reflect Mirror Protocol’s focus on creating a decentralized platform for synthetic asset trading while promoting community participation through governance mechanisms and staking incentives .
It’s important for interested individuals or investors to stay updated with official channels for more information about ongoing developments from the Mirror Protocol team regarding these projects .
Factors affecting price:
The price of Mirror Protocol (MIR) coin, like any other cryptocurrency, can be influenced by various factors . Here are some key factors that may impact the price :
1. Market Sentiment : Overall market conditions and investor sentiment towards cryptocurrencies can influence the price of MIR tokens . Factors such as market volatility or general trends in the crypto industry could affect how investors perceive and value MIR .
2. Adoption and Usage : The level of adoption and usage of the Mirror Protocol platform can have an impact on the demand for MIR tokens. Increased activity on the platform, higher trading volumes, or successful deployment of new mirrored assets may attract more users to utilize MIR tokens, potentially affecting their value .
3. Performance of Mirrored Assets : The performance and popularity of specific mirrored assets created within the protocol can influence investor interest in holding or trading MIR tokens. Positive news related to newly added or highly traded mirrored assets might have a positive effect on token price .
4. Governance Decisions : As a governance token, decisions made by MIR token holders regarding protocol upgrades or parameter changes may affect investor sentiment towards Mirror Protocol as well as its token’s value .
5. Competition : The presence of competing synthetic asset platforms offering similar services might impact user adoption rates and consequently influence token value .
6. Regulatory Environment : Changes in regulations concerning cryptocurrencies or decentralized finance (DeFi) protocols could impact investor sentiment towards projects like Mirror Protocol .
7.Partnerships and Integrations : Collaborations with other blockchain projects or strategic partnerships can raise awareness about Mirror Protocol while attracting new users to its ecosystem. Positive news related to partnerships may have a positive effect on token price .
It’s important to note that cryptocurrency markets are highly volatile, so these factors should be considered alongside thorough research before making investment decisions regarding MIR tokens or any other digital asset .
Where can I buy Mirror Protocol Coin (MIR)?
Exchange Pair Volume
Mirror Protocol Coin (MIR) Baseline Assessment :
The market cap of the Mirror Protocol (MIR) coin is $5.066.392 and its circulating supply is 156.055.246 units. Its maximum Supply is 370.575.000 units , with a fully diluted valuation of $12.030.857.
What is the high price point for Mirror Protocol Coin (MIR)?
MIR Protocol(MIR) highest price is $12.86 recorded on Apr 10, 2021. The current price is -99.74% lower than the all-time high .
What is the low point of the price for Mirror Protocol Coin (MIR)?
MIR Protocol(MIR) token’s lowest price was $0,02245261 on 12 June 2023.
Mirror Protocol Coin (MIR) Technical Outlook:
Mirror Protocol (MIR) coin, which was $12.72 on 05 Apr 2021, dropped to $ 0.020 on 05 Jun 2023 . MIR coin, which continues its movement within the falling channel, is trying to react from the channel lower band . The fact that the RSI is at the bottom and reacting can be perceived as a turn signal . Price will want to move to the channel middle band at $0.03961 before this level . If the channel can cross the middle band , it will target the upper band of the channel , which will take the price to the level of $0.6420 . These rises will not be enough for the trend change. In order for the market structure to change and the uptrend to start, the price must close above the $0.28802 level . In possible rises , horizontal resistances on our chart can be followed .
Our support point: $0.02310, in-line resistances: $0.06052 – $0.11219 – $1.15 – $13.19
Investment information comments, and recommendations contained herein are not within the scope of investment consultancy . The content, comments, and recommendations herein are not guiding but general . These recommendations may not suit your financial situation and risk and return preferences. Therefore making an investment decision based solely on the information herein may not yield results that meet your expectations .