Luminos Mining Protocol Market Cap Tripled in a single day following announcement of nickel mining operation

November 15 17:22 2021
Luminos Mining Protocol takes the crypto world by surprise by reaching a high of 100 million and that too in just one day.

Luminos Mining Protocol, the visionary blockchain-based nickel mining project from Indonesia, is fast making waves in the crypto world. The organization recently announced about its breakthrough nickel mining operation and immediately after the LUMI (native coin of Luminos Mining) coin market cap hit a whopping 100 million in a single day.

Luminos Mining Protocol is a collaborative development between Luminos Graha Group and Geneva Capital Singapore.

Luminous Graha is one of the most notable names in the Indonesian nickel mining sector. The company has been in the nickel mining industry for more than 2 decades now, backed by 8 mining concessions and nickel mines. Luminos Graha has already received the approval from the Sulawesi Central Government for its breakthrough blockchain-based mining project. The company launched the LUMI coin following the collaboration with the Sulawesi Government. LUMI is driven by the mission to combine blockchain technology and smart contracts with the goal to power up the efficiency level in the Nickel supply chain.

LUMI was launched with an initial price of 0.05 USD. On November 3, 2021, LUMI was trading at its highest point, at 0.026 USD.

“We are thrilled to share with you all that LUMI market cap has hit 100 million and that too in a single day. It’s certainly a remarkable feat for a new coin like LUMI and we are a proud team now”, stated Andri, the CEO of Luminos Graha Group.

“However, the major reason why we are more thrilled is that such a staggering market cap shows that people have faith in our coin and the potential of our project. We are looking forward to a further high in the coming months.”

Luminos Mining Protocol has been developed with the vision to create a bridge between the DeFi System and offline businesses with real world applications and resolve real world problems.

Speaking on, Mr. Andri emphasized that the traditional nickel mining scene is marred with several problems and Luminos Mining Protocol aims to resolve these major issues to create a safe, seamless, and cutting-edge mining environment.

“Our existing nickel mining sector poses serious operational safety issues for the workers. Another problem is the staggering cost and also risk of accessing high-quality ores. The conventional nickel mining scene also suffers from the problem of verification of traceable activities and maintaining accuracy of information. Not just that, the existing nickel mining chain is highly complicated. Our blockchain-based Luminos Mining Protocol is strategically designed to address all the issues here.”

Luminos Mining Protocol is aimed to power up the operational safety measures inside the nickel mines. Then, it will provide an authentic quality certificate to guarantee the genuine quality of ore. Besides, given the incorporation of blockchain technology, Luminos Mining Protocol will be able to maintain track of transactions as well as simplify the mining value chain.

The cutting-edge Luminos Mining Protocol has already received interest from several renowned companies, such as Chinese electric car company giant BYD as well as Sinohydro.

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