Electroneum (ETN) is currently cruising in the gains made in the past few days as the market ranges in slight losses across the board. After a magnificent 78% rise in the week preceding 28th September, ETN has seen its price drop by 24% to currently trade at $0.019288 USD.
The year has particularly been generally fairer to ETN checked against its competitors and other cryptocurrencies in the market as the
The mobile based cryptocurrency topped the $0.0273 USD mark on Friday to witness its highest point in the year since May. This was when the development team announced the new code during the Electroneum blockchain update. Since May 30th after the official update of block 307500 was released, the price tanked from highs of $0.035 USD to $0.005 USD in August.
“We’ve just announced the details and date of our #Electroneum blockchain update. New code will be released next week and official update block is May 30th Block 307500.” – @electroneum tweet in April
Since the Twitter team announced the update, the coin has had a rollercoaster ride as it topped the 100 cryptocurrency ranking. It has followed through with more gains during the six month period leading to its current number 46 ranking, which is damn impressive. With the market capitalization currently at $154,933,222 USD, it will take some time before ETN drops below the top 100 cryptos.
The bearish momentum was quickly reversed in the opening week of September when the Electroneum various sources in the news spoke of a possible addition of the digital asset on Coinbase or Binance cryptocurrency exchanges in the near future.
The two exchanges require a petition, which is being raised by over 20,000+ community members to see the ETN token gain listing on either of the exchanges.
Electroneum offers a bright future to its holders
According to their official website, Electroneum is a mobile based cryptocurrency that will enable a new 3 trillion dollar market in the developing countries to stretch to over 350 million smartphone users in the world. The application will provide a leeway for investors in these countries to raise sufficient capital in a peer to peer digital setting.
“With immediate benefits to the mobile operators in those regions, including meaningful transactional cost savings, there are operators who could take us to well over 100 million users and many more operators in negotiation. Our unique mobile miner puts a small amount of ETN into the hands of users every day, providing market liquidity and driving viral growth.”
How far can Electroneum price reach?
The project being offered by Electroneum is solid and unique giving it a major boost in potential future growth. Its focus on developing economies is also a competitive advantage in that the countries are showing a more lenient view on adoption of cryptocurrencies as other parts of the world. More so, the ETN instant payments network is to be patented in future giving it a stronger arm in the market than its peers.
With such sentiments on Electroneum (ETN), only a bearish trend in the market generally looks to affect the long term growth of ETN. If the markets remain stable, I would predict a 5X growth in the coming year to $0.1 USD per ETN token.