In the dynamic world of blockchain, innovation is a constant. Among the latest projects making waves is ENCOINS, a protocol designed to enhance privacy for transactions on the Cardano blockchain. Let’s dive into a detailed analysis of ENCOINS, based on a 13-metric scoring system that reflects its potential and current standing in the cryptocurrency ecosystem.
A Snapshot of ENCOINS’ Vital Stats
Price: $0.943120
24-Hour Trading Volume: $117,088
Total Supply: 15,000,000 ENCS
Twitter Followers: 3,898
Telegram Users: 331
ENCOINS by the Numbers
Our scoring system evaluates projects on a scale from 0 to 100, taking into account 13 critical metrics that range from market cap to social engagement. With a total score of 66.15, ENCOINS demonstrates a promising start with room for growth. Here’s the breakdown:
- Market Cap (Default 2/5): The market cap remains undisclosed, which is quite common for new entries in the market.
- Volume with a 2x Multiplier (6/10): A moderate 24-hour trading volume suggests a budding interest among traders.
- Circulating Supply (Default 2/5): This figure is currently under wraps, leaving investors guessing about the coin’s scarcity.
- Total Supply (4/5): A fixed supply hints at a scarcity that could drive value over time.
- Social Metrics with a 2x Multiplier (6/10): A nascent but active online community gives ENCOINS a solid foundation to build upon.
- Team (3/5): With a substantial allocation of tokens to the original development team, there’s a clear commitment to the project’s future.
- Use Case (4/5): The project’s focus on transactional privacy on the Cardano network addresses a critical need for users.
- Existence, Growth, and Longevity (3/5): Being in the early version phase, ENCOINS shows promise but also carries the typical risks of early-stage projects.
- Audits (Default 2/5): Details about audits are not currently public, an area where clarity could bolster confidence.
- Dex Holders (Default 2/5): The number of decentralized exchange holders remains unknown.
- Hacks/Scandals (3/5): No known incidents suggest a clean slate for ENCOINS.
- Layer 1 (2/5): As a protocol built on top of the Cardano blockchain, ENCOINS isn’t a Layer 1 solution but adds value to the Cardano ecosystem.
- Whitepaper (4/5): A detailed and transparent whitepaper outlines the token distribution and the project’s utility, showcasing the team’s planning and transparency.
Forward-Looking Insights
While ENCOINS is not without its areas of obscurity, particularly concerning audits and the precise team makeup, the protocol’s strong use case, coupled with its planned features, positions it as a potential key player for privacy on Cardano. Its score of 66.15 reflects a robust beginning with significant potential for growth as it matures and expands its community and technological infrastructure.
The crypto community should keep a watchful eye on how ENCOINS develops, especially how it addresses the areas where it scored a ‘default’ rating due to lack of information. As the project evolves and more data becomes available, these scores could very well change, possibly leading to an even brighter outlook for this privacy-centric protocol.
Investors and enthusiasts looking to stay ahead in the privacy coin race would do well to monitor ENCOINS closely, participating in its growth journey on the innovative Cardano platform.