As of this writing Bitcoin is trading at $16,885.60 with a market cap of $282,453,029,720USD, nearly 8 years after it started in 2009.
Minexcoin, is a new cryptocurrency that started trading on November 1, 2017 at Livecoin Exchange. During the Initial Coin Offering (ICO), MNX has raised the following details below.
During its first trading days, MNX have traded way below its ICO price due to bounty hunters who have immediately sold their shares. It opens at $1.44, was lowestly traded at $1.15. However, when these weak hands sold off, we see a consistent rise to reach the highest price of $70.31 on December 3, 2017, just over one month since its listing date. See historical price below.
My projection, Minexcoin will reached $52,631.58 after 28.25 years, on the basis that MNX will reach 1Trillion market cap.
I computed this 28.25 years based on this formula. Calculated as: [24hours x 60 min/1 hr x 60 seconds/1 minute x 365 days] / [ 165 seconds] after reaching the block 5,400,000.
But behind this numbers, what could possibly pushed the price of MNX? (For your additional information, I personally invest during MNX ICO and participated in the bounty).
First, is MNX have their own central bank called Minexbank.
Minexbank, will act like a central bank regulating the Minexcoin. That in case of extreme selling pressure, Minexbank will intervene to push the MNX price higher back within the normal range. On the other hand, in case of buying pressure, Minexbank will come in to pull the price lower within the normal range. Normal range is within +5% to -5% from the previous days closed.
Second, MNX parking rates are better than the any funds existing in the market.
As of this writing parking rates are follows:
If for example, you have 10 MNX before parking. After one year (using the above rates), your 10 MNX will be equivalent to 253.82 MNX on the assumption that the rates remains constant for a period of one year ( this is the real scenario, I just used it for simplicity as Minexbank rates changes from time to time).
In case the 10 MNX, you bought it at $20, so your cost is $200 (excluding transaction costs). After one year, your 10 MNX is now at $5,076.30 [assuming that the MNX price remains constant at $20; I did not changed the interest rates above because on the longer term the price of MNX will go higher but the interest rates will go lower (as MNX becomes stable); on conservative note, changing one variable is appropriate so that the returns will not be extremely high].
Is this price realizable? Let’s go back to MNX history (Nov 1 to Dec 8, 2017).
The lowest price was $1.15 and the highest price (as of this writing) is $70.31. The returns if in case you buy 1 MNX for $1.15 and sold it at $70.31 is 5,998% (without transaction cost).
So if MNX have realized 5998% in just a month, I think 2,438% ROI in one year is not just realizable but probable to happen.
Lastly, for 2018, MNX will release MinexPlatform, MinexExchange and MinexMarket.
These could gain traction to increase the future growth of MNX. See the following roadmap below.
Other information about Minexcoin:
Official website: https://minexcoin.com/
Whitepaper: https://minexcoin.com/html/download/wpeng.pdf
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=1847292
Official channels at social media:
Facebook: https://www.facebook.com/minexcoin
Twitter: https://twitter.com/minexcoin
Youtube: https://www.youtube.com/channel/UC0W1HCOVEOyCse6yQbRDfxg
Github: https://github.com/minexcoin/minexcoin
Telegram: https://t.me/minexcoin/48255
Disclaimer: I only express my own opinions, views, insights and research. Risk is always part of any investment vehicle. So I advised that you should also do your part to understand it before investing and always managed the risk involve in order to maximize your returns.
Happy Investing!
Sources: Minexcoin, Coinmarketcap
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