Mirror Protocol Price Prediction
Mirror Protocol Fundamental Analysis
MIR is a governance token facilitating the usage and development of Mirror Protocol — a DeFi project which allows the users to mint and trade synthetic assets tracking the real-world asset prices. This project was developed by Terraform Labs, which previously built the Terra blockchain and issued the stablecoin UST and the native token LUNA. Mirror Protocol was launched in late 2020 on the same blockchain.
The point of Mirror Protocol is to allow people to gain exposure to the real assets’ prices without the need to buy and sell those assets themselves. This is achieved by issuing their mirrors — mAssets, which live on-chain, track real assets’ prices, and are backed by collateral at minting. Using blockchain technology to manage these assets makes them more accessible for people than many other financial instruments, like some of the traditional derivatives — for example, blockchain provides a fast and easy way of trading fractional shares.
MIR tokens are used mostly for governance purposes via staking. However, in the Mirror Protocol V2, which was recently rolled out, MIR appeared as one of the new collateral options for minting mAssets (previously only UST was accepted). Several other new features were added in this version, such as the support of pre-IPO Assets, “Mint/Short” LP Token, and some governance issue fixes.
Mirror Protocol Price Chart
MIR was launched in December 2020 to a lukewarm welcome, trading mostly in the $1.2-$1.5 range until mid-January. Besides the general market trend contributing to the Mirror Protocol price’s rise, it was probably influenced by good strategic decisions like a partnership with Mask Network or building a bridge to Binance Smart Chain. By the end of January 2021, the price reached ~$4.5 and kept rising, peaking in April at the all-time high of $12.86. Since then the market has experienced a downturn, which MIR sadly hasn’t turned out to be immune to. But still, Mirror Protocol developers seem to have some cards in their sleeves: after the news of the Mirror V2 update and Gemini listing, the price rallied to $7.25 on June 18, 2021, later slowly declining and consolidating around $4 in late June.
Mirror Protocol Technical Analysis
Despite the fact that 100% accurate technical analysis for Mirror Protocol cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated MIR buy-and-sell rating for selected timeframe. The summary for MIR/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
Mirror Protocol Price Prediction
Below we have collected the most reliable price projections for Mirror Protocol (MIR) from popular forecast platforms.
#1. WalletInvestor MIR Price Prediction for 2021, 2023, 2025
According to WalletInvestor, Mirror Protocol price will grow from $3.275 to $10.027 in one year. That makes MIR an awesome investment. The long-term earning potential is 206.17%. Predicted price for the end of 2026 is $34.714.
#2. TradingBeasts MIR Price Prediction for 2022
Answering the question about if Mirror Protocol is a good investment, TradingBeasts say a resounding yes. In the 2021 perspective, this coin price is predicted to reach $3.31792 with a reduction to $2.71253 by the end of 2022.
#3. DigitalCoin MIR Price Forecast for 2021, 2022, 2023, 2025
In DigitalCoin analysis, the price of Mirror Protocol cryptocurrency will rise in the next 5 years starting from $0.0049956 as of today’s price to $0.0213484. It will go up to $0.0084639 by 2022 and continue its growth in 2023–2024. Based on this forecast, Mirror Protocol is a profitable long-term investment.
As it can be clear from the analysis cited above, Mirror Protocol (MIR) projections are rather contradictory. There is no universal consensus either about positive or negative future MIR price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Mirror Protocol projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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Originally published at https://swapspace.co.