MonaCoin (MONA): The Latest Crypto Darling
Cryptocurrencies which started as just a means of anonymous transactions are continually being integrated into most sectors of the economy and futuristic technology. More than ever, the question of where to invest funds are raised.
In this article, we will take a brief look at MonaCoin (MONA) and whether it’s investable.
History and growth of MonaCoin (MONA)
MonaCoin originated from Japan, the coin is a subsidiary of the popular LiteCoin. MONA started trading as low as $0.2 per coin. The coin was launched in January 2014 making it the first cryptocurrency in Japan. MONA is an open-source decentralized platform running on the Proof-of-Work consensus mechanism.
MONA was launched 0% pre-mined, and the initial development team did not receive the coin as incentives. MONA experienced unprecedented growth after Japan legalized the mainstream use of cryptocurrencies for trade. The popularity of the coin began when some ATMs in Japan began exchanging the digital assets for Yen bills.
Pricing history and current price of MonaCoin
Just like most other cryptocurrencies MONA started selling for a token price and experienced a price spike along the line. MonaCoin started the sale at $0.2 apiece.
The asset recorded an all-time high of $20.23 (USD) in December 2017 and the least it has ever been traded for was $0.019613 (USD).
MonaCoin started 2018 with trading values above the $10 mark. During the prominent Asian cryptocurrency let-off in mid-January, the asset continued trading at around $8. Since then, the coin has suffered a slow backdrop, as, at the time of this writing, MONA is trading for $4.
The coin is up more than 20%, as of this writing. A market capitalization of $231 million (USD) gives MONA the 83rd position in the cryptocurrency ranking.
Perks of MonaCoin (MONA)
- MonaCoin was launched with a 0% pre-mined feature.
- MONA provides options for both private and transparent transactions.
- MONA is popularly used for trading in Japan.
- The Lyra2REv2 algorithm for mining increases mining substantially on Nvidia based devices.
- Mona boasts a short block time of 1.5 minutes with a block reward of 25 MONA.
- MonaCoin is Segwit-activated; making it more efficient.
- MONA can be traded for the majority of the cryptocurrencies including fiat.
Is MonaCoin Worth a Buy?
MonaCoin is an impressive digital asset by all standard and is one to look forward to in the future. MONA is often referred to as “The most active cryptocurrency in Japan” offers great features with a lot of potentials for future growth.
The major problem posed with the purchase of the asset is the dominance it poses only in Japan.
Regulations against cryptocurrencies in Japan will take a major toll on the asset, and it could also result in a price spike (if the regulations favor cryptocurrencies). That aside MonaCoin is definitely a keeper asset for the future.