What Happened to Linda Coin and Is It Still Wise to Invest in It?
The crypto markets are similar to a living, breathing ecosystem. New cryptocurrencies are released all the time, with newer and better protocols. Old ones, on the other hand, need to keep up with the pace and new technologies if they want to stay relevant in the industry.
It’s a dog-eat-dog world out there, and if your project isn’t up to par with today’s standards, your cryptocurrency might simply cease to exist. One might think that this has happened to the Linda cryptocurrency. Coin aggregators and trackers don’t list it anymore and even its website returns a 404 error.
So what happened to Lindacoin? Did it simply disappear from the markets? If you are familiar with blockchain technology, you should be aware that that’s not possible. As long as there are token holders and a blockchain, the coin should exist somewhere.
In this article, we try to unravel what happened with Lindacoin and see if it’s still a viable investment opportunity. To this end, we will explain the basics behind Linda, explore some fundamentals and give it our best shot at a plausible Linda Coin price prediction.
What Is (or Was) Lindacoin?
The two most popular cryptocurrencies, Bitcoin and Ethereum, have one common characteristic — they don’t scale very well. As more users connect to the network and start using their blockchains, miners get overwhelmed and transactions slow down to a crawl.
These issues are still present today, visible in the high gas fees on the Ethereum blockchain. Lindacoin was released to provide a direct solution to this issue. Unlike Bitcoin, which works on a Proof-of-Work mechanism, Lindacoin was one of the pioneering cryptocurrencies to attempt a Proof-of-Stake blockchain.
Released in 2017, the Lindacoin blockchain provided rewards for the users that staked LINDA coins in their official wallets. It also released some working projects, including:
- MyStakingWallet — launched in 2018, this multi-token wallet was the first product of the Linda team. It had a goal to offer easy staking of different (up to 8) cryptocurrencies. Moreover, it allowed users to set up easy point-of-sale nodes, ideal for merchants. And finally, it has a neat feature where users can handle their blockchain masternodes using its simple and effective interface.
- MyNodePool — a staking mechanism for Linda holders, as well as some other partnering coins.
The Linda coin reached as high as $0.01 shortly after release, in January 2018. However, the ensuing bear market completely shattered the value of LINDA, and by the end of 2018, the coin was worth just above $0.0003 — a 97% decline.
Lindacoin Rebranding to Metrix
This price crash was catastrophic for the platform, as holders left masternodes and sold their tokens massively. The team needed to remedy the exodus of users and planned a rebranding of the platform.
Hence, Lindacoin became Metrix (MRX) in 2019. The team released a new roadmap, detailing some important upgrades to the system. Per their website, it will be able to deploy smart contracts, and therefore be used for the creation of NFTs.
So if you are still looking for LINDA on CoinmarketCap, there’s a good reason you can’t find it. Today, the platform has been successfully rebranded into Metrix, and the coin can be found on one exchange only, Crex24.
What Does the Future Reserve for Metrix (Previously Lindacoin)?
We can’t really have a positive opinion on the future of Linda coin. At the moment, the price of MRX (previously LINDA) is hanging around $0.0005. This low price may be appealing to investors, as you can purchase large amounts of the coin for a small starting capital. Hence, small price fluctuations (a fraction of a cent) could make the value of your portfolio skyrocket.That is the main reason why people also invest in coins like Quantstamp — QSP price prediction for the long term is also quite promising.
That said, there are a few issues with this coin. It’s only listed on a single exchange, and the liquidity is really low. There is very little interest from traders, which means that its price could be easily manipulated.
As a result, we can’t really give you a precise price prediction. The team is working hard to deliver on the promised updates, including the release of Wage Street Gaming and Wrapped MRX, but the traded volumes are still around $1,000 at the moment of writing, which does not sound promising.
According to various market forecasts, the price of MRX is expected to increase steadily with each year, at about 70% yearly growth rate. However, that will depend on the development team’s efforts and the publicity around the coin. Like with every crypto asset, it is important to keep tabs on the news and updates.
The crypto markets can be extremely competitive, and weaker projects are often left behind. Linda Coin is trying to avoid this path, and the success of this endeavour will depend on the quality of the technical advancements of the network. That said, if you are willing to take a risk, low-liquidity coins can be a 50-50 gamble that could bring some great profits.