Crypto Coin Analysis & Rating: Pirate Chain (ARRR)

A re-occuring series in which I analyse and rate different crypto coins or tokens from a purely financial point of view.

Since this is the first analysis of this new re-occuring series some explanation might be needed first. I will analyse the crypto coins on the basis of several (often re-occuring) variables which I’ve found to be the key variables in identifying the market viability of a specific coin. My analysis will have a purely financial character, I don’t look deeper into code or other variables that are directly related to IT, and I also don’t use any TA charts (Technical Analysis) either. For every variable I will allocate a verdict rating that will vary from A+ to F-. Well, now that all of you are familiar with the core principles on which I perform my analysis it’s time to actually take off. This time I will take a look at Pirate Chain (ARRR).

The meta discourse or meta narrative:

The space of crypto has a lot of ongoing discourses and narratives and every coin or token is positioned within those discourses or narratives on a meta level. ARRR is a coin that is heavily focused on privacy which means that it’s positioned within the meta narrative of ‘‘privacy’’ coins. The current meta narrative of privacy coins isn’t doing well, it seems to come and go from time to time and it often temporarily surges after a calamity but overall it really isn’t doing well. So during times of a serious calamity it has the potential to be an A+ but the general trend is D-.


Markets, exchanges and liquidity:

Privacy coins are specifically known to do significantly worse in terms of liquidity and presence on big exchanges than their non-privacy market cap comparable counterparts. One only has to take a quick look at this data from CMC (CoinMarketCap) to conclude that this notion is also true for ARRR, the position of it’s total marketcap is #427 while it’s position when it comes to volume or liquidity is #2579. The sole trading pair of ARRR/USDT on Gate.io accounted for 50% of today’s trading volume and a selling pressure of 3138 USD in that specific trading pair would decrease ARRR’s price with 2%, which on a total market cap of 36.5 million USD is quite a bad liquidity situation. It’s most notable presence on an exchange is KuCoin which is not bad but it’s also not that much of a big deal either, the overall exchange presence could definitely be worse since it’s a low cap privacy coin after all, but it’s simply not good. Given that today’s volume to market cap ratio of 0.11% seems to be quite an ordinary 24 hour liquidity situation for ARRR I’m rating this an E-.


Tokenomics, distribution and market cap potential:

ARRR has an actual fixed maximum supply (which is positive) and the total circulating supply to max supply ratio seems to be in a very good shape, certainly compared to most other crypto coins. Without diving into rich lists and explorers I’m simply going to assume that the actual total circulating supply ratio as stated by CMC is correct which implies a relatively healthy supply or token distribution. But do keep in mind that it sometimes does occur that wallets from individual owners or the organisition itself are classified as ‘‘circulating’’. ARRR is a PoW (Proof of Work) coin, therefor miners will have to keep selling their mining ‘‘profits’’ which in turn leads to a form of constant selling pressure, yet this is true for basically any crypto coin in existence whether it’s PoW or PoS (Proof of Stake). Market cap potential can be identified by taking a look at the current market caps of very similar coins (coins that are positioned within the same meta discourses or narratives, ‘‘privacy’’ in this case). Monero (XMR) and Zcash (ZEC) come to mind first, which have current respective market caps of 2.6 billion USD and 405 million USD. These market caps dwarf the current 36.5 million USD market cap of ARRR which implicates big future potential market cap gains. My overall rating for these variables is A.


Meta presence on social media and (potential) oddities:

It’s social media presence isn’t huge in terms of the general crypto meta level but in terms of ARRR’s current market cap it’s social media presence certainly outperforms most if not all it’s market cap comparable counterparts. There seems to be quite an organic core of ARRR enthusiasts with an actual organic audience on several social media platforms (most visibly on X / Twitter) which most contemporary coins simply lack. This could also be explained by the fact that ARRR is a more ideologically (privacy) driven coin than most other coins. When it comes to oddities there’s one issue which most privacy coins share, which is the issue of uneasy adoption due to the presence of extra technical or IT related barriers which the average user needs to overcome first. In my personal case, I tried to load ARRR-ZHTLC in the Atomic Dex / Komodo Wallet but somehow it isn’t loading. I’m sure that I could get it to work perfectly if I would do some research and take some extra steps. But having to do extra research, steps and thus extra work simply means that it is much harder to use and adopt for the masses than most other crypto coins. My rating for this segment is C+.


Pirate Chain (ARRR) general rating: C-

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Bitcoin (BTC): 14SyLpfRSMkRVJioAUsQUMnoJ91bbYzLfy
Ethereum (ETH): 0xC2d036F146d98ce7DbBB0E6C2ef5DEcc901C42e0
Ripple (XRP / no tag required): rUuN9j2fPrkGGVegY2jfbvrTqBaLFPVtxa
Ripple (XRP-BEP20 & XRP-ERC20): 0xC2d036F146d98ce7DbBB0E6C2ef5DEcc901C42e0
Dogecoin (DOGE): D8b4t5c4jmei2JuPu4ry27xQBGjtt5re4U
Shiba Inu (SHIB-BEP20): 0xC2d036F146d98ce7DbBB0E6C2ef5DEcc901C42e0
Dash (DASH): Xe8pB5KKQ4y1eFKP2NBdKtUb8UbHd3eBaV
Litecoin (LTC): LNfvc2yFX1zUk7QxLcrhkNrZWMNshVsWXt
Zcash (ZEC): t1MKaMA5ZQgY25wmh6ugXcAtiYoCgLSMAf9
Pirate Chain (ARRR): zs164hhlx6e4uan2yt7wxc39lrzddav3szcpf0ke02taeecfqz9kxvrjzj7acrcteeztdqpxedasuj
Pirate Chain (ARRR-BEP20): 0xC2d036F146d98ce7DbBB0E6C2ef5DEcc901C42e0
USDC (USDC-BEP20 & USDC-ERC20): 0xC2d036F146d98ce7DbBB0E6C2ef5DEcc901C42e0
USDT (USDT-BEP20 & USDT-ERC20): 0xC2d036F146d98ce7DbBB0E6C2ef5DEcc901C42e0
DigiByte (DGB): D8b4t5c4jmei2JuPu4ry27xQBGjtt5re4U
Komodo (KMD): RCjARLYi3BYzZK5zderXZt814QUCDoxFir
Bitcoin Cash (BCH): bitcoincash:qqjarnhp80ty5cx93zaul33llh4a8ffnzqag9qn8m5
Polygon (MATIC): 0xC2d036F146d98ce7DbBB0E6C2ef5DEcc901C42e0
Stellar (XLM / no memo required): GDFDD43SJHT2PIWOLUOJWMMLDK5YBLB4LVLFAAEKCTO6DXD62MMOWOBT
DAI (DAI-BEP20 & DAI-ERC20): 0xC2d036F146d98ce7DbBB0E6C2ef5DEcc901C42e0