In the summer of 2018, a new coin called MFT appeared on Binance crypto exchange. What is this project? Will MFT price rise? Well, let’s figure it out.
What is Mainframe (MFT)?
According to the information on official website, Mainframe is the platform for decentralized apps. The project concept is to create a decentralized network for the purpose of sending / receiving anonymous messages that are resistant to censorship. Decentralization as a feature of blockchain is designed to protect the network from third-party access, incl. developers.
In early July, the project’s token was added to Binance cryptocurrency exchange, and as a result MFT increased significantly in price. But, as expected, the effect was temporary: its value quickly and significantly decreased. As of mid-July 2018, MFT was trading for price around 250-300 satoshis ($0.2).
Recently, the coin was added to the Coinmarketcap, hitting the top 200 of cryptocurrencies by capitalization.
The closest event that will significantly affect the work of the platform is the release of 0.1 MVP. This will happen on November 15, 2018. We do not exclude that the update will affect the price of the cryptocurrency. After that, the platform will provide communication services, data storage, payments and local identification. Computer services, data transfer services, and decentralized identifiers (DID) will still be unavailable.
More serious updates are expected in 1Q 2019, when the initial version of the platform with broader functionality will be launched.
Mainframe (MFT) Price Prediction
It is quite difficult to predict the growth of any crypto currency in an extremely volatile market. We will weigh the factors “for” and “against” and make our conclusion. You can come to another conclusion, having food for thought.
Factors behind the price increase are as follows:
- The token is traded on the world’s largest crypto exchange (Binance app was downloaded from Playstore more than 1 million times).
- In case of a reversal (growing) trend of the entire market, the price of the token is likely to rise too.
- The project has an interesting concept, people need completely anonymous and safe chat rooms.
Factors against the price increase:
- It is not sure that MFT will be listed on other large crypto exchanges. Update: the coin has been listed on Bittrex and Upbit.
- States don’t like the idea of complete anonymity in crypto projects. Remember Monero (XMR) which has been removed from some exchanges for a similar reason.
- As far as we know now, sending messages in the network will be paid (using MFT tokens). You should also take into account the fact that the price of MFT, like almost any other cryptocurrency, will be very volatile.
- There are no cryptography programmers in the Mainframe team.
Therefore, we believe that the coin will grow in value but not significantly. See our price forecast for the Mainframe (MFT) crypto currency in the table below.
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What do you think about MFT’s perspectives? Don’t hesitate, share your comments below!
Disclaimer: This MFT price prediction is our estimate. Investing in cryptocurrencies is always a risk. Don’t invest all your deposit in one crypto.
Featured image by Pixabay.