Overview
First, we’ll ensure you understand what the Echelon Prime crypto project is all about, and we’ll look at its fundamentals, roadmap, and community. We’ll also make sure to explain how the Echelon crypto works. So, you can think of that part of today’s article as a fundamental analysis (FA). Of course, we won’t go extremely deep; however, it will be enough to help you determine whether or not the Echelon Prime crypto asset deserves your attention further.
Next, we’ll focus on the PRIME token, explaining what it is, taking a glance at its tokenomics, and use cases. And, since many of you are interested in trading alts, we’ll also analyze the $PRIME token price. We’ll even provide some speculative price predictions. All in all, this part of the article will be a sort of technical analysis (TA).
With FA and TA under your belt, you’ll be able to know whether or not $PRIME deserves your attention. However, to answer the question “Should I buy $PRIME?” you ought to research the token more in-depth. This is where Moralis Money will come into play.
After all, aside from enabling you to find the best altcoin opportunities at any time, this ultimate on-chain analysis platform’s token pages are also the go-to tools for researching tokens.
About Echelon Prime – What is the Echelon Prime Crypto Project?
The Echelon Prime crypto project is all about supporting the development of the next generation of gaming and play-to-earn (P2E) economies. It is a project led by the non-profit Echelon Prime Foundation (a.k.a. Echelon).
In order to deliver its vision announced on January 25, 2022, in the Echelon whitepaper proposal (EWP), the foundation is focused on creating and distributing tools that will support various Web3 games and P2E projects. So, the goal of the Echelon crypto project is to become a go-to ecosystem for Web3 game developers.
While the project’s whitepaper specifically points out that Echelon will never focus on a single, specific game, it had to start somewhere. So, at the time of writing, there’s only one game using this ecosystem: Parallel. This is also pointed out on Echelon’s official X (formerly Twitter) account:
Fundamentals
At its core, the Prime crypto project aims to offer upcoming Web3 projects solutions regarding blockchain-related aspects. This should help boost development and speed up production time.
According to the EWP, projects using the ecosystem should take an advanced approach. So, on-chain protocols and solutions built by Echelon Prime for any particular project will be available to other projects. In order to achieve this ambitious goal, the ecosystem had to set in place various incentive systems. We’ll cover that further as we focus on the PRIME coin.
Roadmap
After scavenging Echelon’s official website, whitepaper, and documentation, we couldn’t find any roadmap. So, it seems as if there are no dates or milestones that the team wishes to put out there.
However, it’s worth pointing out that the project seems to be active. There’s a decent amount of Prime crypto governance activity as well as the continuous progress of the first game (Parallel) using Echelon’s solutions.
Echelon Prime Resources – Community and Social Media Sources
As pointed out above, Echelon Prime is a non-profit. Plus, it is designed to follow a decentralized form of governance. You can think of it as a DAO, where the community and members get to submit and vote on various proposals. This includes the use of Echelon’s treasury. You can view recent proposals, create a new proposal and apply for a grant on the governance page of the “echelon.io” website.
Here’s an example of this type of voting process:
The main roles of Echelon Prime governance lie in the hands of Emissaries Prime (EPs). These are eleven individuals that represent the interests of Echelon and PRIME holders. Of course, it is the community that elects EPs. You can see the current EPs and their contacts on the Contact page of the “echelon.io” website.
With such a decentralized governance approach, a strong community is obviously extremely important for Echelon’s success. After all, strong communities are the keys to success for any decentralized project. And, for the purpose of bringing like-minded folks together, the project offers a designated X account (@EchelonFND) and the Echelon Discord channel.
The best way to access these communities is by using the links you can find at the bottom-right corner of the project’s homepage:
How Does Echelon Prime Work?
There are two aspects of the Echelon crypto ecosystem to consider. On the one hand, Echelon is a product that users can use via its native token PRIME and native NFTs. On the other hand, Echelon obviously serves other projects that want to build Web3 games or other types of P2E economies without creating their own blockchain protocols.
The first aspect allows individuals to get involved with the ecosystem and its incentives. And the second one allows projects to utilize Echelon’s tools. They come in the form of smart contract libraries, secure communication infrastructure, governance structure, token distribution frameworks, and mechanics.
The four core motivational tools of the Prime crypto project entail:
- Providing Web3 tooling and infrastructure to support high-quality Web3 games.
- Enabling P2E innovations such as a circular economy.
- Ensuring the ecosystem and the game using it are equitable to players.
- Promoting interoperability.
At the time of writing, we can confirm that Echelon has been primarily focusing on the protocols revolving around NFTs. After all, as pointed out through their documentation, they believe these are the types of crypto assets that are most vital for Web3 gaming.
Also, since the Prime crypto token plays an important role in the Echelon ecosystem, you ought to learn more about it.
What is the PRIME Token?
The PRIME token is the Echelon crypto project’s native currency – a utility and governance token. The Prime crypto coin lives on the Ethereum blockchain, where it follows the ERC-20 token standard. The creators of the project minted PRIME on July 17, 2022. But the token didn’t start trading until March 2023. In order for that to happen, the Echelon community voted on whether the token unlocking should or shouldn’t take place.
Tokenomics of the PRIME Crypto Token
- Token name: Prime
- Symbol or ticker: PRIME ($PRIME)
- Token type: ERC-20
- Native blockchain: Ethereum
- Total supply: 111,111,111.111 $PRIME
- Initial distribution:
- 30% to the Echelon ecosystem P2E pool
- 4.26% to seed the PRIME staking pool
- 2% to seed the PRIMEset staking pool
- 11% to the Echelon-approved primary NFT asset staking pool
- 4.25% to Echelon-approved digital asset owners
- 2.25% to PRIMEset holders
- 15.4% to the PRIME ecosystem founding team
- 4.6% to the Parallel Studios token reserve
- 16.24% to PRIME ecosystem investors
- 10% to Echelon Prime Foundation’s token reserve
Note: To learn more details about the tokenomics, vesting, and above-mentioned NFT assets, make sure to dive into the project’s FAQ, whitepaper, and documentation.
$PRIME Use Cases
As per the Echelon crypto’s whitepaper, PRIME has several use cases:
- It facilitates Echelon community development and participation.
- $PRIME is used to transfer value among stakeholders of the Echelon ecosystem.
- It serves governance purposes.
- $PRIME is an important part of Echelon’s P2E model. Among others, it serves as a reward offered to players of Echelon-based P2E games.
- The token can also be staked, which adds security to the network.
- The Prime crypto token also activates premium Echelon services and smart contracts (e.g., inb0x – the wallet-to-wallet messaging service)
So, if you own PRIME or any of the Echelon-supported NFTs (a.k.a. Echelon-approved digital assets or EADAs), you can visit echelon.io and put them to use. As for staking your $PRIME, you can use the Coinbase exchange.
$PRIME Token Price Analysis
As explained above, the $PRIME token price was irrelevant until the token became transferable and tradable. That happened on March 1, 2023. On that day, $PRIME started to trade on several markets, including Coinbase, where its listing price was $6.90.
However, we will focus on the PRIME/WETH Uniswap price action denoted in USD. You can see that chart, including the major support and resistance levels, in the image above.
Without any TA skills, you can see that the $PRIME token price established a clear downtrend within the first days of trading. And, while there were some smaller bounces along the way, the price decrease didn’t stop until it hit $1.28-ish on April 2, 2023.
Following that low, the price increased by approximately 70% over the next eleven days. However, there wasn’t enough momentum for the price to continue to rise. Thus, the trend reversed again. This time the $PRIME token price found a local bottom at $1.20-ish on May 25, 2023.
Since then, the price has recovered and had three attempts at breaking above the $2.14-ish level. However, none of these attempts were successful. As such, the $PRIME token price remains (at the time of writing) bound between the $1.2-ish and $2.2-ish levels, where it’s been ranging sideways since March 20, 2023.
Echelon Prime Price Prediction
If you take a look at the above chart again, you’ll notice that despite the price still being bound to the aforementioned range, it is quite clear that the trend is priming for reversal. Of course, that doesn’t mean the price of $PRIME can’t go lower. However, it is more likely for the token to finally break above $2.14.
In case that were to happen, the levels above the current price would be the most obvious short-term price predictions. And, if the rest of the crypto market shows signs of strength, PRIME could go for a new all-time high.
If we use the Fibonacci retracement tool, its most optimistic level (the “4.236” extension) points to $28.5-ish. That’s more than 15x above the current price level.
We can further speculate on the $PRIME token price by comparing the Prime crypto project with other popular Web3 gaming projects. By doing so, we can see that Axie Infinity’s (AXS) and Decentraland’s (MANA) ATH market cap levels crossed the nine billion dollar threshold.
So, in case Echelon manages to gain popularity in the upcoming bull market, it is possible for it to reach those heights. So, let’s take that number as a market cap and presume that the circulating supply of PRIME doubles (40,000,000) by that time. With those two inputs, we get $225 as a long-term prediction price of $PRIME if the project really takes off.
Should You Invest in $PRIME?
If you were expecting us to answer that question, we must, unfortunately, disappoint you. After all, we are not financial advisors. Plus, only you know your risk tolerance and your current financial situation.
However, using the information provided in the above sections, you should be able to decide whether or not you find the Echelon crypto project interesting or not. Let this be your starting point.
In case you don’t, then you can move on to other altcoin opportunities right away. If so, start using Moralis Money’s primary feature – Token Explorer – to run your strategies. In return, this ultimate on-chain tool will generate dynamic lists of altcoins with potential.
But if you believe $PRIME has potential, you ought to visit the Moralis Money Prime ($PRIME) token page. On that page, you’ll find all the resources and tools to properly research this crypto token. If you conclude that you want to get your bag of $PRIME, don’t forget to take a closer look at Prime’s real-time, on-chain data (a.k.a. alpha metrics).
By considering the token’s on-chain momentum, you’ll be able to time your trade much more effectively.
So, should you invest in $PRIME? Well, follow the above link to the asset’s Moralis Money token page, or use the interactive widget below and come up with the best answer yourself.
Easiest Way to Buy the PRIME Token
Once on Moralis Money’s token page dedicated to $PRIME, you’ll also see the instant crypto swap feature in the top-right section of the page. So, if you end up deciding that you should buy PRIME, then that swap feature is, without a doubt, the easiest way to buy the token.
Aside from being right there on the same page, it also automatically selects the PRIME coin, so you can’t land on the wrong trading pair. Plus, thanks to the power of the 1inch aggregator, it also ensures you get the best possible price.
Note: In case you’ve never swapped cryptocurrency before, make sure to use our step-by-step guide that will show you how to swap ERC-20 tokens with ease.
Full Echelon Prime Analysis and $PRIME Token Price Prediction – Key Takeaways
- The Echelon Prime crypto project is a rather interesting Web3 gaming project.
- Echelon is not a game itself; instead, it aims to become a popular ecosystem that other Web3 gaming projects will use to cover blockchain-related aspects of their projects.
- The project is already live and has its own native currency: $PRIME.
- You can utilize PRIME to get involved with the project or you can simply trade the asset.
- Before buying $PRIME, make sure to research the token further using Moralis Money’s token page.
- If you decide to buy the Echelon crypto token, you can do so right on that page using the swap feature.
Whether you decide to buy PRIME or not, don’t forget to expand your attention to other altcoin opportunities. And, the best way to do so is with Token Explorer!
With this powerful feature, many Moralis Money users, especially the ones on the Starter and Pro plans, have been spotting alts before their pumps. As such, these folks in the know have been profiting from insane meme coin rallies (e.g., PEPE, POP, BOBO, etc.) as well as from other, more serious projects (e.g., WoofWork, SDEX, MixToEarn, etc.).
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