Monacoin (MONA) – The last few weeks have seen a massive crypto selloff. Some experts believe that bitcoin, which is pulling everything else down, is massively overvalued and is repricing to its right price. That’s because it is slow and very costly to transact with, yet it’s worth thousands of dollars.
Actually, most altcoins outperform bitcoin on multiple parameters. Unfortunately, the altcoins market is heavily linked to bitcoin, which means a decline in the price of bitcoin translates to a decline in altcoins too. So does that mean that everything else is overvalued, just because bitcoin is?
The answer is a big No. There are some projects in the market today that are heavily undervalued at current prices. Monacoin (MONA) is a good example of an undervalued project.
Just to bring you up to speed on why this project is highly undervalued, take the fact that when it launched, it was 0% pre-mined. This means that no single entity has the capability to manipulate its value. In a market where issues of manipulation are rampant, a 0% pre-mined coin is guaranteed to stand out from the crowd in the long-run. That’s because it stands true to the whole essence of blockchain technology, and that’s complete decentralization.
In addition, Mona is a very popular crypto in Japan. This alone is enough to make it heavily undervalued at its current price. That’s because Japan is one of the most important countries in crypto, alongside China, South Korea and the U.S. As such, the fact that this crypto is popular in this country gives it the fundamental strength it needs for it keep rising in the future.
Once the market turns bullish, Japanese trading volumes will push this crypto up significantly. That’s why at current prices, it is highly undervalued, when you factor in the enthusiasm that the Japanese society has in cryptocurrencies.
Monacoin (MONA) is also SegWit activated. While the bitcoin community is discussing the issue of scalability through SegWit right now, Mona achieved this a long-time ago. This not only makes Mona highly efficient, but also one of the most forward-thinking crypto platforms in the market.
That makes it highly mismatched to its price right now. It just doesn’t make sense that a crypto that has all the hallmarks of a currency, and is highly scalable is valued at only a few dollars, yet bitcoin with all its flaws is worth thousands of dollars. But that’s partly because Mona is only focused on the Japanese market. Once more people outside of Japan begin to appreciate the value of Mona coin, you can expect its value to shoot up.
A savvy investor should be looking to stock up on this coin, now that everything in the market is on sale. It has the potential to hit $50 and above. All it will take is a surge in demand outside of Japan, demand that will be chasing just 58 million coins. Monacoin (MONA) is one of the few cryptos that has the potential to make you rich in 2018, if you can hang on, and brave the bear market.