Pirate Chain Fundamental Analysis
Pirate (ARRR) is a token used in Pirate Chain — a privacy-focused crypto project boasting full anonymity in all transactions. Pirate was founded in 2018 and went live with a fair launch, with no team tokens, pre-mining, or ICO. Its primary purpose is to act as a privacy coin.
A typical cryptocurrency, insofar as those were initially conceived, features a transparent transaction history on the blockchain. This poses a whole host of potential issues, which can be collectively called a “fungibility problem”. A store accepting fiat currency doesn’t care where it might have been — so, say, any dollar is essentially the same as any other dollar (i.e. fungible), whereas if a crypto token went through some addresses affiliated with the drug market, fraud, etc. — it might be “worse” in the eyes of merchants than a token without such history, even if its current owner is a law-abiding citizen. Some projects solve this problem by obfuscating money trails in some way, including Monero and Zcash.
Pirate Chain combines Monero and Zcash strengths and builds on them, putting shielded zk- proof transactions mandatory at the core of the network. It’s secured with Proof-of-Work consensus protocol and with delayed Proof-of-Work as an additional layer. All these measures protect the identities of token holders in the network and make Sybil and 51% attacks very expensive and unfeasible.
Pirate Chain Price Chart
When Pirate Chain entered the market in mid-2019, it was relatively poorly known, which led to Pirate’s price staying relatively low at first — it didn’t break the $0.1 mark until August 2020, and even then, Pirate didn’t keep this position for long. The second break came in December 2020, when the price climbed above $0.1, slowly at first. By early April 2021, it reached $0.4 and then shot up to $16.90 on April 23, as the Pirate community got quite active in the bull market. The price went back down after this, although participating in the Miami Shitcoin conference on June 3–4, 2021, bumped it up a bit — from ~$4 in late May to almost $7. It continued its descent later, trading just above $2 in early July. Note that Pirate is slated to undergo halving in August 2021, and it will certainly be interesting to see how the market reacts to that.
Pirate Chain Technical Analysis
Despite the fact that 100% accurate technical analysis for Pirate Chain cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated ARRR buy-and-sell rating for selected timeframe. The summary for ARRR/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
Pirate Chain Price Prediction
Below we have collected the most reliable price projections for Pirate Chain (ARRR) from popular forecast platforms.
#1. WalletInvestor ARRR Price Prediction for 2021, 2023, 2025
According to WalletInvestor, Pirate Chain price will grow from $2.388 to $6.896 in one year. That makes ARRR an awesome investment. The long-term earning potential is 188.78%. Predicted price for the end of 2026 is $24.030.
#2. DigitalCoin ARRR Price Forecast for 2021, 2022, 2023, 2025
In DigitalCoin analysis, the price of Pirate Chain cryptocurrency will rise in the next 5 years starting from $2.81145 as of today’s price to $12.6195426. It will go up to $4.7061138 by 2022 and continue its growth in 2023–2024. Based on this forecast, Pirate Chain is a profitable long-term investment.
As it can be clear from the analysis cited above, Pirate Chain (ARRR) projections are rather contradictory. There is no universal consensus either about positive or negative future ARRR price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Pirate Chain projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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Originally published at https://swapspace.co.