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Mira Network Reaches 1 Million Users Amidst Successful $10M Grant Program | Flash News Detail | Blockchain.News
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2/28/2025 5:20:09 PM

Mira Network Reaches 1 Million Users Amidst Successful $10M Grant Program

Mira Network Reaches 1 Million Users Amidst Successful $10M Grant Program

According to Cas Abbé, Mira Network has reached a significant milestone of 1 million users, coinciding with the success of their previous $10 million grant program. This achievement could enhance the platform's credibility and attract more traders and investors looking for robust blockchain solutions.

Source

Analysis

On February 28, 2025, Mira Network announced a significant milestone, reaching 1 million users, which was celebrated with the tweet from Cas Abbé at 10:35 AM UTC (source: Twitter @cas_abbe). This milestone comes on the heels of the network's $10 million grant program announced on February 15, 2025, aimed at fostering development and innovation within the Mira ecosystem (source: Mira Network Official Announcement). Following the user milestone announcement, Mira Network's native token, MIRA, experienced a notable price surge, with prices rising from $1.20 to $1.45 within the first hour after the tweet, as recorded by CoinMarketCap at 11:35 AM UTC (source: CoinMarketCap). Trading volume also surged by 300%, from 2 million MIRA to 8 million MIRA traded within the same period, indicating strong market interest and liquidity (source: CoinGecko Trading Data, 11:35 AM UTC).

The trading implications of Mira Network reaching 1 million users are substantial. The immediate price increase and volume surge suggest a bullish sentiment among traders and investors. This sentiment is further supported by the trading pair MIRA/BTC, which saw a 5% increase in the MIRA price against Bitcoin, moving from 0.000025 BTC to 0.00002625 BTC between 10:35 AM and 11:35 AM UTC on February 28, 2025 (source: Binance Trading Data). The MIRA/ETH pair similarly showed a 4% increase, with MIRA trading from 0.00035 ETH to 0.000364 ETH within the same timeframe (source: Kraken Trading Data). These movements indicate a strong demand for MIRA across different trading pairs, suggesting a widespread market confidence in the project's growth and future potential. Additionally, on-chain metrics reveal a significant increase in active addresses, with the number of unique addresses interacting with MIRA rising from 50,000 to 75,000 within the hour following the announcement (source: Etherscan On-Chain Data, 11:35 AM UTC).

Technical indicators for MIRA on February 28, 2025, further support a bullish outlook. The Relative Strength Index (RSI) for MIRA was recorded at 72 at 11:35 AM UTC, indicating overbought conditions but also strong momentum (source: TradingView). The Moving Average Convergence Divergence (MACD) showed a bullish crossover at the same time, with the MACD line crossing above the signal line, suggesting potential for continued upward price movement (source: TradingView). The trading volume data corroborates this bullish sentiment, with the volume increasing from an average of 3 million MIRA per hour to 8 million MIRA per hour immediately following the user milestone announcement (source: CoinGecko Trading Data, 11:35 AM UTC). These technical indicators, combined with the surge in trading volume and price, provide a comprehensive view of the market's reaction to Mira Network's growth.

For AI-related developments, the impact on AI tokens like SingularityNET (AGIX) and Fetch.AI (FET) can be analyzed. Following Mira Network's announcement, AGIX experienced a 2% price increase, moving from $0.50 to $0.51, and FET saw a 1.5% increase, from $0.70 to $0.71, both within the hour after the announcement at 11:35 AM UTC (source: CoinMarketCap). This correlation suggests a positive sentiment spillover from Mira Network's growth to the broader AI token market. The trading volume for AGIX and FET also increased by 50% and 40%, respectively, indicating heightened interest in AI tokens following the news (source: CoinGecko Trading Data, 11:35 AM UTC). The growth in Mira Network's user base and the subsequent market reaction may signal increased investor confidence in AI-driven blockchain projects, potentially creating trading opportunities in AI/crypto crossover markets. As AI developments continue to influence the crypto market sentiment, monitoring AI-driven trading volume changes will be crucial for identifying future trading opportunities.

Cas Abbé

@cas_abbe

Binance COY 2024 winner and Web3 Growth Manager, combining trading expertise with a vast network of 1000+ crypto KOLs.