Grin has seen a dramtic rise this past weekend as the coin looks to mke its mark in the crypto market. According to Coinmarketcap, the coin fuelling the MimbleWimble ecosystem was at $4.15 and increased by over 217% through the weekend. On Monday, the cryptocurrency started trading at $13.17.
Miblewimble, according to BTCNN has:
“A style of creating a very private blockchain that is very competent when it comes to its storing magnitude. A MimbleWimble blockchain is quite different from the traditional Blockchain in the sense that it doesn’t make use of public addresses for its transactions.”
The recent big leap from Grin has led many to speculate as to how this has come about. Some have claimed that this is a natural bounce that many new coins make and the resulting dip back down to its original starting price that is seen currently would suggest this theory to be an accurate one. Perhaps this is just a pump and dump coin.
Yet others point to the coins mining ability, with a graphics card computing power needed, this makes it more accessible and readily available than other coins which require ASIC mining machines, mainly due to less electricity needed. Another factor is that Grin is on Windows, Mac system, Linux operating system, and the minimum support for 4G memory. This means that even the average Joe can mine it. The article entitled “The Simplest and Easy to Use Grin Mining Method in the Universe” quickly became popular in the circle, adding fuel to this explanation.
Either way, this price rise has set tongues wagging, for investors and miners alike. According to 8BTC:
“It is estimated that the market value of Grin will be ranked at the top 40 with a probability of 97.5% at the end of 2019, with a market value of about 150 million US dollars.”
Many have called it Bitcoin 2.0 and have looked to heap praise while others have treated it with scorn. However, don’t be easily lured into the hype surrounding the coin. As their website points out:
“It’s very young and experimental. Use at your own risk!”
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