Current industry buzz focuses on cryptocurrency’s DeFi, or decentralised financial infrastructure. Open, decentralised, permissionless, and autonomous, it provides many of the functions of the traditional financial system.
As of November 2021, the total value locked (TVL) in crypto assets in DeFi apps based on the Ethereum blockchain had grown from less than $2bn in July 2020 to $100bn (£71.6bn), a five-fold increase. Between January and November of 2021, the volume of exploits and hacks on DeFi apps exceeded $1.4bn, according to the report.
The TVL on the Ethereum blockchain currently stands at $112.87 billion, according to DefiLIama. The entire TVL value of all existing blockchains was $205.15bn.
According to the MIR coin price chart, on April 10, 2021, MIR hit an all-time high of $12.86. Mirror Protocol’s TVL peaked at $2.21 billion on May 12th, 2021, and was down to $681.97 million as of this writing, an almost 70% drop.
What are the chances of a MIR token price recovery in the near future, and will it be better than the competition? Let’s find out!
Mirror Protocol Past Price Analysis
The current price of Mirror Protocol is $1.61, and it is currently ranked No. 1 in the entire crypto ecosystem, according to the latest data. Mirror Protocol has a supply of 77,742,680 tokens and a market capitalization of $125,032,447.
In the last 24 hours, the cryptocurrency’s value has decreased by -1.11%. A decrease in market capitalization can be seen when comparing the current value of MIR to the previous day’s value.
Getting other crypto coins on board with Mirror Protocol is becoming increasingly difficult. The MIR has fallen nearly -6.17% in the last week. Even though the coin has strong fundamentals, we don’t expect it to be a profitable asset in the short term, despite the risky framing segments.
MIR’s price has dropped by -8.516% in the last month, equating to a loss of $0.15 on average. This sudden fall indicates that the coin is currently in a downtrend, which makes it a good time to buy for a short-term investment.
The price fluctuated from a minimum of $2.76 to a maximum of $3.09 over the last 90 days, a decrease of 42.64%. The price of Mirror Protocol has fallen by 46.75% over the past four months, with the highest average price of $3.12 and the lowest average price of $2.87.
MIR Price Prediction 2022
MIR prices are predicted to reach $2.24 on average in 2022, with a minimum price of $2.16 expected by the end of this year according to the Mirror Protocol price and technical analysis forecasts. The highest price point for MIR is $2.59 and If the market goes up, the minimum price may rise to $2.27.
Conclusion: Final Thoughts!
Mirror Protocol (MIR) projections appear to be quite inconsistent, as evidenced by the above analysis of the data. There is no consensus on whether MIR prices will rise or fall in the future. Indeed, a number of factors, including announcements, new technological solutions, the crypto environment in general, legal position, and so on, all play a role in the potential growth of the Mirror Protocol. Let us remind you that it’s critical that you do your own due diligence before investing in any cryptocurrencies.