As we dive into today’s article and explore the MixToEarn crypto project, we’ll first cover its basics. This is where you’ll learn what the project is about and get acquainted with its privacy mixer. Next, we’ll take a closer look at MixToEarn’s roadmap and the MTE coin. We’ll also cover the MTE token’s tokenomics and use cases. Plus, we’ll focus on the asset’s price action. As such, we will perform a detailed price analysis and use TA basics to offer you some speculation regarding price predictions.
After covering the fundamentals and TA of the MixToEarn crypto project and MTE coin, you’ll be ready to tackle the question, “Should you buy $MTE?” This is where Moralis Money will help you come up with a confident answer. And, those of you who may decide to get a bag of MTE will also be interested in learning where you can buy that altcoin.
Exploring the MixToEarn Crypto Project – What is MixToEarn?
MixToEarn is a new crypto project that went live on July 1, 2023, on the Ethereum network. The project prioritizes privacy and offers advanced transaction solutions. It does so primarily via its privacy mixer, which is also its core feature.
The project’s litepaper points out cross-chain functionality, layer-2 (L2) scaling, earnings, anonymity, privacy, and protection as the core advantages of the MixToEarn crypto project.
It’s also worth pointing out that while the MTE coin is already live, as well as the project’s app (in beta version), the project is yet to fulfill most of its promises.
Blockchain with Privacy Mixer
As mentioned above, MixToEarn’s privacy mixer is the core feature of the project. The latter utilizes a cryptographic protocol known as zkSNARKs, which enables privacy without compromising transaction verifiability. So, the project claims that thanks to its solution, users can maintain verifiability and ensure privacy at the same time!
But how does MixToEarn’s privacy mixer work?
Without going into technical details, the MTE crypto explains: “It all begins with users depositing their cryptocurrency into MTE’s privacy mixer. Then, the latter uses zkSNARKs and Merkle trees to break the link between sender and receiver addresses. By breaking this link, the process ensures transactional privacy. However, it offers compact proofs of element inclusion. And these proofs play a vital role in withdrawals.“
Any withdrawal from the privacy mixer involves generating zkSNARK proofs. They provide evidence of ownership but do now disclose specific deposits. So, this privacy mixer verifies the proof and authorizes the withdrawal. By doing so, it transfers the requested amount of cryptocurrency to a new user-provided address.
So, as you can see, the word “mixer” makes a lot of sense, as this method kinda mixes things up. It obfuscates the source of funds. As it does its thing, the process adds an additional layer of privacy.
Thanks to its core feature, the MixToEarn crypto project aims to empower individuals to reclaim control over the information regarding their personal finances. As the project’s website and litepaper further point out, the MTE crypto team believes in the importance of safeguarding financial transactions. The project further stresses how it recognizes the growing concerns regarding privacy invasions by various entities and governments.
Earning with the MixToEarn Crypto
Another rather interesting feature of the MTE crypto project is called “earn and anonymize.” This feature is a core part of the above-explained privacy mixer, and it serves as a sort of incentive.
As the “earn and anonymize” name suggests, users earn fees when using the MTE project’s platform. Users who deposit their tokens into the platform to participate in the privacy mixer also earn rewards. Furthermore, users are entitled to the rewards because they provide liquidity and, in turn, help ensure the ecosystem’s functionality. As mentioned previously, these rewards come for transaction fees generated within the MixToEarn ecosystem.
MixToEarn Crypto Roadmap
The above image outlines the gist of all four phases the MixToEarn crypto project outlines in its current roadmap. Unfortunately, there are no clear dates or timelines regarding the outlined phases. Still, its worth to list the core goals of each phase:
Phase 1:
- Conduct research and development for both the $MTE token and MixToEarn platform.
- Launch the $MTE token, the native cryptocurrency of MixToEarn.
- Foster community growth through marketing initiatives and engagement activities.
Phase 2:
- Performing security audits to ensure platform robustness.
- Officially launching MixToEarn’s privacy mixer.
- Forging strategic partnerships and building an active community.
Phase 3:
- Extending cross-chain functionality and integration with other blockchain networks.
- Partnering with exchanges and dapps for increased liquidity and utility.
- Expanding the development team.
Phase 4:
- Scaling platform for growing transaction volumes and user demand while ensuring performance and security.
- Expanding the ecosystem through third-party applications and market targeting.
- Investing in research and innovation to stay at the forefront.
Where is the MTE crypto project currently at?
Well, it’s rather challenging to pinpoint the exact phase. For instance, the project has already delivered on most of the goals in phase one. However, it’s not clear whether “fostering community growth through marketing initiatives” has been delivered. After all, hopefully, this is an ongoing goal.
The project also already launched its platform (dapp), but it’s still (at the time of writing) in the beta stage.
All in all, it seems to us as if the project is in its second phase. Do you agree?
What is the MTE Coin?
The MTE coin is the MixToEarn crypto project’s native cryptocurrency. It is an ERC-20 token, meaning it is fungible and lives on the Ethereum blockchain.
The token was minted by “mte-deployer.eth” on June 28, 2023:
The MTE Coin Tokenomics
The project’s website and litepaper show that MTE token’s tokenomics foster MixToEarn’s goals. The total supply of $MTE, its distribution, pay/buy taxes, and other properties foster the project’s development and marketing goals. Furthermore, the tokenomics also ensure that the ecosystem can provide proper incentives to the MTE coin holders.
The following list neatly sums up the $MTE tokenomics:
- Token type: ERC-20
- Chain: Ethereum
- Token’s contract address: 0x159cDAF78bE31E730d9E1330adFcfBb79a5fdb95
- Total supply: 1,000,000,000 $MTE
- Holders limitation: No single user wallet can hold more than 2% of the total supply
- Transaction limitation: No single transaction can represent more than 1% of the total supply
- Buy tax: 5%
- Sell tax: 5%
- Distribution: 5% team and advisors, 5% for CEX listings, 90% Uniswap liquidity
MTE Token Use Cases
The exact use cases for the MTE coin are yet to come to light. So far, the MixToEarn crypto project’s website and litepaper point out that $MTE is the driving force for the MTE ecosystem. However, there are no details on how exactly the token does that.
So far, most folks that bought their bags of $MTE did so to pocket some gains on the asset’s initial price increase. Moreover, this cryptocurrency can be freely traded on the most popular DEX: Uniswap. That said, let’s take a closer look at the MTE coin price action!
MTE Coin Price Analysis and Prediction
The above image indicates the MTE crypto’s four-hour price chart. A glance at the token’s price action tells you that the asset has increased in value a lot in its first month of trading. If you look at the token’s lowest and highest prices (yellow square), you can see that the value of the MTE coin increased by more than 1350x. And the price performed this massive rally in less than 23 days!
$MTE got listed on Uniswap on July 1, 2023, at a price of $0.000006452. The latter is also the asset’s all-time low (ATL) level. The first 20 hours of $MTE trading took the token’s price to as high as $0.0006761. So, that was a massive 100x-plus initial rally.
Of course, the price had to cool down after such a large pump, and a 64% retracement took care of that. So, the asset found support in the $0.00024-$0.00027 region. And that was the first great opportunity to get some MTE, which many Moralis Money users took advantage of.
But the token’s price didn’t stay in that area for long. On July 5, 2023, it started climbing up again and broke the $0.001 level the next day.
Then came the retest of the previous resistance at $0.00045-ish and the second great chance to get a bag of $MTE. Again, many Moralis Money users, especially those on the Starter and Pro plans, jumped the gun!
The aforementioned $0.00045 level turned into support, which sprang $MTE into another 1800%-plus run. The MTE coin reached $0.008739 on July 24, 2023. Despite the losing momentum, the price reached its all-time high (ATH) level – $0.008757 – on July 29, 2023.
$MTE Price Speculation
In the above chart, we’ve marked all the “significant” support and resistance levels for $MTE. These levels are also the most likely short-term price predictions. We also included a trendline (the long white line) that has, so far, served as support.
However, as you can see by looking at the last two tops and the corresponding RSI values, the chart indicates a price-RSI divergence. The latter typically indicates an upcoming correction. You can already see that the price has already pulled back by nearly 40%. So, the question remains whether or not that was it or will the price go lower.
If the $0.0048-$0.0053 region holds, it’s likely that the price will touch the current trendline and then go further up. On the other hand, if that region and the trendline fail to hold, the lower levels of support will come to play.
In case the price of the MTE coin manages to break above its current ATH, we can use the Fibonacci retracement tool to predict how high it could go. The most optimistic level of that tool (the “4.236” extension) points to $0.021-ish.
Nonetheless, in case the MixToEarn project was to deliver on its roadmap and gain massive adoption, the $MTE’s price could also soar. And, since MTE is all about privacy, we could further speculate on the asset’s price by comparing its market cap with ATH levels of other leading privacy cryptos.
So, here are some highly unlike (but possible) price speculations for the MTE token during the upcoming bull market:
- $3.88 – compared to Zcash (ZEC)
- $8.12 – compared to Monero (XMR)
- $11.20 – compared to Dash (DASH)
Should You Buy $MTE?
Since we are not financial advisors, we cannot answer the above question for you. Plus, only you know your financial situation and your risk tolerance.
However, using the above-provided information, you should be able to determine whether or not the MixToEarn crypto project deserves your attention. If yes, you ought to explore the project and the token more closely. Fortunately, you can conduct in-depth research on MTE using Moralis Money’s MixToEarn ($MTE) token page.
This is where you can find all the links and tools you need to decide with confidence whether or not you should buy $MTE. Plus, if you decide to get your bag of this privacy-mixer token, don’t just buy it blindly. Instead, make sure to time your entry properly!
Fortunately, this is another aspect that Moralis Money’s page for that token can help you with. After all, Moralis Money’s specialty is real-time, on-chain data. So, by considering MTE’s alpha metrics and their evolvement through different timeframes, you can determine if the token is gaining or losing on-chain momentum.
And, since on-chain activity always precedes price action, you can use those insights in combination with the current price levels to time your entry properly!
So, make sure to use the above link to that page or simply use the interactive widget below!
Where to Buy the MTE Token?
If you decide you wish to get a bag of $MTE, you have several options. Just use the “Market” section on CoinGecko or CoinMarketCap page for that token. There, you’ll find a list of all CEXs and DEXs that offer the relevant training pair, including the trading volume. As such, you can easily pick a market that best suits your goals.
In case you decide to buy MixToEarn tokens, use the above instructions to find a DEX or CEX that has a sufficient trading volume for that crypto.
If you go with a DEX, then you’ll need a hot Web3 wallet (e.g., MetaMask), which you’ll need to connect to the platform. Next, you’ll be able to select the trading pair and execute the on-chain transaction.
The process of using a CEX is arguably even simpler. After all, once you have your account ready and funded, it is rather straightforward: simply visit that token’s trading pair and execute the trade. However, keep in mind that whenever you use CEXs, you are not in full control of your cryptos. “Not your private key, not your crypto!”
MixToEarn Crypto Analysis – Should You Buy the MTE Coin? – Summary
Here’s the gist of today’s article:
- MixToEarn (MTE) is a new crypto project that aims to offer users a higher level of privacy when transferring crypto by using its privacy mixer.
- The MixToEarn crypto project uses the zkSNARKs cryptographic protocol.
- The project lives on the Ethereum chain and has a native currency: the MTE coin.
- $MTE doesn’t have a particular utility yet.
- The price of MTE has already increased by more than 1000x, but the asset still sits at only a six million dollar market cap.
- Use Moralis Money’s token page for the MTE crypto to DYOR and determine if now’s the right time to buy.
- Start spotting the best altcoin opportunities with Moralis Money’s core feature: Token Explorer.
