Mithril (MITH) has picked up pace faster than most cryptocurrencies launched in 2018. With only a month in existence the altcoin has managed a market cap of $ 382 million placing it 62nd right now. This is quite impressive given that the market is currently bullish and things seem to be getting better as we head towards Q3. Return on Investment from this digital asset stands at over 1000% within a month although its volatility level matches this expected return. The question therefore would be why is this crypto gaining so much attention in the current market?
Mithril (MITH); the Social Media Blockchain
The world has become interconnected with the modern day social media platforms. Tech giants like Facebook have been reaping profits in $ billions from this business. Mithril is among the blockchain networks that has identified a niche in the social media arena as blockchain acceptability increases by the day. This decentralized platform launched is designed to operate as a social network where content creators are rewarded fairly. Therefore, the team launched MITH ERC20 tokens on the Ethereum platform for the purpose of fuelling the network. Users within the platform will be given MITH for contributing content to network.
Lit Mobile App
Mithril (MITH) has already launched its own mobile app on iOS and Android with an aim of increasing its market. Lit is the name of the mobile content application that one can receive MITH tokens for posting content. However, this protocol should not be confused with that of Steem. Mithril drives the monetization of social content to a new era where views and popularity can be rewarded accordingly as opposed to modern day influencing on platforms like twitter. This network solves some of the problems Steem has encountered such as distribution rate and biasedness from players that have learnt the loopholes.
Fundamental Value of MITH Tokens
Mithril Merchant Network is set to be deployed in the near future; this platform will be the right remedy for linking content creators & the market. Users will be able to purchase online apps, content channels and a couple of other products using their MITH tokens. The project will pioneer in Hong-Kong & Taiwan but is estimated to gain global traction faster than most investment assets.
In addition users will be able to exchange their MITH tokens for the popular altcoins like BTC & ETH hence increasing their scope of escaping risk. The Mith Vault is the vehicle designed to support this exchange of digital assets and will be integrated with more platforms in future. Also, a feature that will help calculate rewards prior to posting content will be updated within this protocol.
Mithril (MITH) is currently trading at $1.24 with its price being green for the past month. MITH has been on an all-time high of $1.55 although analysts believe it was still undervalued at that time given its fundamental value. This altcoin is currently trading in over five coin exchanges with 51% of its volume being transacted on Bithumb. Volatility within the past month has been at 194% for MITH tokens making it a highly volatile investment right now. However, this figure will look more captivating to investors once the coin has been in the market long enough for mean reversion to occur.