Towards the end of last year Electroneum (ETN) launched a vision to make cryptocurrency easy for anyone to mine and use. A hell of a lot of people bought into the vision and the coin shot up into the top 30 coins on CMC. Since then a lot has happened, but along the way a handful of issues arose (just like with any new company) and the value dropped, bitcoin reached its peak and dropped massively too. The company quickly fixed the issues but by then there was a lot of FUD being spread and interest waned. As fast as some good news came the price would jump and then fade again. Over time the coin dropped out of the top 100.
But throughout the year the company has worked tirelessly to develop a product that no only works but delivers.
So where are we now? Why is ETN price continuously rising?
Electroneum is currently way undervalued and the markets are beginning to realise. Back when Electroneum had not long launched it hung around the 20 cents mark, today its around 2.5 cents, yet now you can earn via a mobile phone, send it to your friends and family, buy and sell products using the currency and all transactions are authorised instantly. Its this last bit that is currently grabbing everyone’s attention – imagine going into Costa ordering a drink and paying via the app in seconds. Imagine ordering a drink on holiday not in Euro, Dollars or Sterling but in ETN (no fees, no bank charges, no extortionate exchange rates) ok we are not quite there yet, but integration of the payment process is no more difficult than accepting PayPal and more and more stores are starting to accept ETN as payment.
But this is where I’m straying… There are many advantages this coin has over others. ETN is about to be compliant with regulators, something that makes the coin attractive to the big institutional players, new partnerships and old, something that will allow the coin to shine when other coins will fade away. There are currently two network operators integrating ENT at the moment which will allow its users to top up airtime and data via the coin. To build on its already massive potential of new users the company will begin advertising for new partnerships in October which will no doubt further increase the limelight and expose opportunity for new investors. With many agreements in place and the instant payment live those big partners will also begin incentivising their users to use the app. And lets face it free currency in poorer countries means that they will take up the offer and encourage friends and family to do the same.
Instant payments will soon move from being in beta and the API available to anyone. Know your customer will soon be enforced making ETN fully compliant which means the big corporate companies that have been negotiating in the background can also integrate the payment system and cloud mining will soon be available for all. After all this which is all expected to complete very soon the Eco System will come online country by country.
One thing we know for sure, news drives trading and good news for ETN just keeps on coming. Electroneum are focused on delivering a product that has the largest number of users over any other crypto and when you take into account just some of the things we know now, its easy to believe that this will happen and probably much sooner than many first thought.
At the time of writing ETN is ranked number 42 on CMC (not even in the top 100 7 days ago) and a gain of 243% over the week.