Echelon Prime (PRIME) Crypto Soars 42% Despite Market Slump

Image Credits: CryptoAvanza

An Ethereum-based gaming altcoin that hasn’t been getting much attention lately has surprised everyone by making a strong 42% jump in value over the past week, even when most other cryptocurrencies were experiencing a drop in their market prices.

This altcoin goes by the name Echelon Prime (PRIME), and it operates within the web3 ecosystem, with a primary goal of pushing forward the next wave of gaming experiences.

According to the description on Echelon’s website, their mission revolves around developing and providing tools that can fuel innovation and help new gaming concepts and economies grow.

The coin associated with this project is called PRIME, and it’s currently trading at $3.88 as I write this, a significant increase from its value of around $2.73 just a week ago. This particular cryptocurrency holds 295th place in terms of market capitalization and has managed to climb nearly 12% in value within the last 24 hours.

Read More: XRP price drops below $0.56, invalidating bullish count

Earlier this week, Echelon made a proposal to its community members for a grant vote. If this proposal gets the green light, the grant will be given to a non-fungible token (NFT) game named “What the Funge,” developed by Funge Labs.

To give you a sense of what “What the Funge” is all about, it’s an NFT-powered bar fight simulator that operates as an auto battler. The game offers a unique utility to NFT projects, enabling players to engage in battles for everlasting dominance, honor, and of course, PRIME. While the game’s mechanics are easy to grasp, it also has a high skill ceiling, promising players a fulfilling competitive experience.

Although PRIME’s value has surged this week, it’s essential to note that it still sits more than 31% lower than its highest-ever value of $5.68, which it reached back in March. This peak came shortly after the major US cryptocurrency exchange Coinbase added the asset to its listings.