Cryptocurrency prices Concerns about a global recession coincided with higher interest rates and moved lower in the final week of the year. Bitcoin dropped lower to $16,485. Other coins like XRP, ETH and ADA also fell. Here is the crypto price prediction for the last week of the year.
Mirror Protocol (MIR)
Mirror Protocol, the dead cryptocurrency, was one of the best performing cryptocurrencies in the final week of the year. It rose to $0.24, 173% above this year’s low. It is now back to $0.14.
As I wrote, the Mirror Protocol was an important part of Terra’s ecosystem Here. It used its technology to allow people to buy and sell financial assets in a tokenized manner. For example, people can buy Apple shares in token form. The advantage is that users can trade these tokens on a 24-hour basis.
Mirror became obsolete following the collapse of the Terra Protocol and Terra USD stablecoin. Now, the price has moved above the 25-day and 50-day moving averages, while the Relative Strength Index (RSI) has moved to the neutral point of 50. Therefore, I suspect that MIR will remain under price pressure as sellers target. Support at $0.1225.
How to buy mirror protocol
As MIR is a new asset, it is not yet listed on major exchanges. You can still buy MIR using a DEX (decentralized exchange), which means there are a few extra steps. Follow these steps to buy MIR now:
1. Buy ETH at a regulated exchange or broker eToro ›
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2. Send your ETH to a compatible wallet like TrustWallet or MetaMask
You need to create your wallet, grab your address and send your coins there.
3. Connect your wallet to 1inch DEX
Go 1 inch and ‘attach’ your wallet to it.
4. You can now convert your ETH to MIR
Now you are connected, you can exchange 100 currencies including MIR.
Serum Another dead cryptocurrency. It was a leading player in Solana’s ecosystem, where its net worth was more than $1.5 billion. The serum’s problem was that its private key was held by FTX, leading to a loss of trust in the ecosystem. Today, the total value of Serum Locked has dropped to less than $395k.
SRM dropped to $0.115 this week and then zoomed back to $0.15. It managed to move above the moving average, but it was overbought. So, I believe the rough pace will resume over the weekend. If this happens, it will retest the critical support point at $0.12.
How to buy serum
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In 2022, Solana suffered a severe fall. It fell to an all-time low of $260 to $10. The most recent sale was due to its close association with its major financiers, FTX and Alameda. Therefore, the collapse of FTX led to a large liquidation, which significantly reduced the price.
On the daily chart, Solana is below all moving averages and the psychological level of $10. The Relative Strength Index (RSI) has moved below the oversold level. Therefore, Solana will continue to fall as sellers target the next major support point at $5.
How to buy Solana
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