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Mirror Protocol Price Prediction

Jan 11, 2023
5 min read

This blog post will cover:

  • MIR Statistics
  • Mirror Protocol Roadmap
  • Crypto community about MIR
  • MIR Price Prediction
  • MIR Price Prediction 2024
  • MIR Price Prediction 2025
  • MIR Historical Price Analysis

Mirror is a decentralized finance protocol based on smart contracts of the Terra network. It gives an opportunity to create artificial tokens named Mirrored Assets (mAssets). They imitate the price behavior of real assets and provide traders access to value revelation.

MIR is a governance token. Users should deposit it into the protocol in order to be able to make suggestions and vote. The protocol pays stakers with MIR fees. The project is planning to issue 371 mln MIR within 4 years for the community members.

Mirror Protocol is upgraded and controlled by the community. The markets are supported by customers due to MIR incentives. All the fresh ideas are accepted after a voting process.

MIR Statistics

Price prediction at 01.24.2024:
MIR price: $0.0004806674730015102
Volume (24h): $37623.93186057
Total supply: 10000000000 MIR
Max supply: 10000000000 MIR

Mirror Protocol Roadmap

Mirror Protocol doesn’t own a roadmap available on official website, but they have shared their plans on Mirror forum in June 2021:

Now, there is not much open information about the team’s plans, but still they do share some information. We managed to look through their website and social media. Let’s take a look at their plans for the nearest future:

  1. Updating voters’ reward ratio from 50% to 70% and will be processed through the governance.
  2. Listing the MIR token on popular crypto exchanges.
  3. Integrate mAssets into more protocols.
  4. Develop the actual governance system for integrating community members into the whole process.

As we can see, the goals of the project are very generalized, but hopely soon we will see a full informative roadmap with detailed points.

Crypto community about MIR

The Mirror Protocol community seems to be loyal and supportive. We have found many messages and comments on social media channels saying MIR will make it to the moon:

Nevertheless, there are crypto enthusiasts that don’t agree with everyone’s delight, and sometimes blame the Mirror team for suspicious and questionable decisions.

Some people have predicted the elevation of the MIR price and are very satisfied that today it’s hitting the 2022 own records:

Anyway, the positive vibe of the MIR community is pretty obvious and it is great — the more support the project gets, the more popular it can become.

MIR Price Prediction

MIR Price Prediction 2024

As for May 26, 2022: shares an average price of $0.92 in January and $1.10 in December. As we check out prognosis, we can see the price prognosis of $0.46.

MIR Price Prediction 2025

As for May 26, 2022: showsa price increase from $1.12 in January to $1.25 in December. The analysts of share a prediction for 2025. They foresee it to be $0.62. However, by 20131, they think the price can significantly go up and reach $1.64.

MIR Historical Price Analysis

As for May 26, 2022:

All-Time High (Apr 10, 2021): $12.86

All-Time Low (May 21, 2022 ): $0.20

The price of the MIR token had a few significant ups and downs. For example, on February 21, 2021 the price went from $7.07 to $4.39. On 11 April, 2021 the price was $12.46 and in a week it has dropped to $7.61 already. The most stable growth can be visible during 3 months — March, April and May 2021. Furthermore, the MIR value has been decreasing slowly as the market has been going through tough times.

The increase in the token price can be caused by a pump, as some of the followers think. Whether it is true or not, the Mirror Protocol has a unique and valuable concept that probably will recover from the volatility sometime.

The Mirror Protocol looks like a promising project with a great potential of significant growth in the future. It does have some weaknesses though, but there are still great chances that the team will fix the issues.

Also the Mirror Protocol v2 was announced. The v1 has undergone some changes and updates, including:

  1. Governance involvement motivation. Active voters will be allowed for voting rewards together with the already existing staking rewards.
  2. New Collaterals. All collaterals will be given a new parameter accepted through governance. It will be called the multiplier.
  3. Short Incentives. A new non-tradable token called sLP tokens, which is minted from creating a short position.
  4. Pre-IPO Assets. Assets planned to undergo an IPO could be whitelisted and traded on Mirror v2. Any user is able to define the details of the underlying asset by using the governance poll.

We will monitor the Mirror Protocol project and share all updates with you, so stay tuned with SimpleSwap Blog!

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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