Why I'm invested in MONA (June 12, 2017)

Monacoin was a coin that was created in 2014 and came from the Japanese board 2chan. This makes it the first Japanese cryptocurrency, and it's price went up to $0,73 on the first of August 2014. After that, it dipped, with prices going between $0,02 and $0,30.

This was until last month when things started to change.

What happened?

Japan has legalized all cryptocurrency payments, which makes it legal to now accept cryptocurrency as a means of payment in stores/restaurants/business. This has sparked an interest in businesses trying to jump the ship before someone else does so. Let's meet Zaïf.

Zaïf is a payment provider/altcoin exchange. They are located in Japan, and they are, together with Bittrex, the only exchange that trades BTC/MONA, but they also provide JPY/MONA, which takes up most of their volume. Let's look at how they want to enter into the freshly opened Japanese internal market.

Zaïf has placed a network of so-called "smart ATM's" around Japan (https://zaif.jp/smart_atm). There are 61 around now in total, of which 43 do JPY/MONA trades. A very important point to make is that they (for now) ONLY do JPY/BTC and JPY/MONA transfers. On top of that, they have only last week opened the first commercial web shop with a physical store that accepts BTC and MONA payments, ark-tech (https://www.ark-pc.co.jp/news/article?id=3001370), which has an indicated 500.000 customers per month on their web shop. I assume Zaïf is building a scalable system that is now being tested at Ark-PC, but which can be deployed to more stores easily. They already have the infrastructure up for people to buy MONA easily, now they need to bump up the amount of places where coins can be traded for goods. I expect this to happen in the next couple of weeks.

Map of Zaïf's smart ATM's

This is what is needed for MONA to grow. The amount of places that it can be traded at. However, the Japanese will use the coin as a real valuta, which is different to a lot of the altcoins traded today. Japan is one of the first countries to actually turn cryptocurrency into a currency that can be used in real life as well.

Now, let's look at the market. I'm not good at this, but let me give you my own price analysis. Mona has been steadily growing in popularity since February when interest started to go up again. This is in line with the global increase in popularity of the cryptocurrency market. However, there are some indicators that I have linked to events happening in the world. One is the 10-19th of April jump. This is when investors jumped on the news that the ATM's were accepting MONA. Then there was a new jump in price when Ark-PC announced that they would accept MONA/BTC payments. And then there was this morning. At around 8 am Japanese time, we could see that the Japanese were waking up, and starting to buy Monacoins. This might have been investors, but I think it was people using the ATM's. Cryptocurrency is something that is slowly being tried out by new Japanese investors/users, who will put their freshly earned JPY into an interesting coin. The price went up from 11966 satoshi to 13302 satoshi, to be corrected back to 12656 sats afterwards. To me, this is an indicator that there is a lot of Japanese capital that's ready to enter the market, and we're just seeing the beginning of it. There are only 50.000.000 mona's in existence, and they cost only $0,36 right now. This makes for a market cap of a whopping $18,5 million!! This makes this coin, in my opinion, one of the most undervalued cryptocurrencies around right now, and I think it will be corrected upwards in a relatively short time.

Thanks for reading :) feedback is appreciated.

The views expressed in this paper are solely the views of the author. Please do your own research. If you like this, please resteem and like,
I feel that the western market knows way too little about this hidden gen.