MinexCoin (MNX) Project Closed in 2020
The MinexCoin (MNX) project was officially announced as closed by the project team on April 15, 2020. Subsequently, its token MNX was delisted by exchanges such as EXMO on May 13, 2020, marking the end of the project in the cryptocurrency market. The project team stated at the time that after a long period of effort, they were unable to deliver the expected results to the community, and their "Economy X" concept also failed to bring ideal outcomes.
Project Background and Initial Vision
MinexCoin was initially developed by MinexSystems, with core team members including Boris Shulyaev, Ruslan Babych, and Vladyslav Zaichuk. The project aimed to create a low-volatility cryptocurrency based on the "Mars algorithm," controlling price fluctuations through the MinexBank algorithm, and planning to stabilize MNX prices by adjusting interest rates and market interventions. Its core concept was to build an "Economy X" to provide users with a stable digital assets experience.
During its operation, MinexCoin launched several products and services:
- MinexBank iOS Application: Launched in March 2018, allowing users to "park" MNX to earn interest, view interest rates, re-park, and monitor transactions.
- MinexPay Card: Order date announced in June 2018, designed to provide cryptocurrency payments and ATM withdrawal functions.
- Minex Web Wallet: Offered storage and control for various digital assets, and supported the activation of the MinexPay card.
- MinexExchange: Was tested, aiming to provide a trading platform for Minex platform assets.
Historical ICO and Price Performance
MinexCoin's Initial Coin Offering (ICO) began on May 14, 2017, and concluded on June 12, 2017, raising approximately $789,859, with an ICO price of $6.18. Prior to this, the project successfully raised 1127 Bitcoin in an early pre-ICO in December 2016.
Historical data shows that the MNX token once reached an all-time high of $35.43. However, these are historical data from before the project closed and do not represent current market conditions.
Project Closure and Current Market Status
Since the project team announced its closure in 2020, MinexCoin has ceased all development and maintenance work. Currently, the MNX token has no active trading market. According to data platforms such as CoinMarketCap, MNX's real-time price is $0, its 24-hour trading volume is $0, and its circulating supply and market cap are also shown as $0. This means that the token has essentially lost its market value and liquidity.
Given that the project has closed and the token has no active trading, investors should be fully aware of its high risk. This token has no active trading market; please do not attempt any transactions.
