Electroneum (ETN) Price 2020
The current price of Electroneum fluctuates around $0.003565; the total market capitalization is $35,422,560, which makes ETN one of the 100 most popular digital currencies as of December 2019. The circulating supply is 9,937,224,408 ETN. The daily trading volume is around $103,199.
The all-time high of Electroneum, $0.236234, was reached in January 2018. On the other hand, an all-time low of Electroneum occurred in November 2019. Currently, the estimated ROI (return on investment) of ETN is -49.08%, which means that $100 worth of ETN bought at the time of the Electroneum launch would not yield any profit today.
The history of Electroneum, similar to many other prominent coins, started with an ICO (initial coin offering). A campaign launched on the 14th of September 2017 had to close early when the hard cap of $40 million was reached. Ever since its launch, Electroneum was branded as the first British cryptocurrency. The initial ETN price was set at $0.23. Despite a very promising ICO, a major obstacle blocked Electroneum’s way to rapid success. Already in November 2017, a massive hacking attack occurred in the network, which led to a drop in price from $0.23 to $0.06.
However, the problems were soon fixed, and investors saw potential in this mobile-friendly digital currency. The price did stabilize afterward and hit the $0.2 level again in January. The growth experienced by the coin in just three months was 122%. Sadly, a general correction and subsequent stagnation took over the market after January 2018, and Electroneum was not an exception. Slowly but surely, the price went all the way down to $0.005 values by September 2018. Even though there were several price peaks in autumn, overall, the price of ETN has been in a continuous downtrend ever since the biggest cryptocurrency bull. More than a year later, the price is still fluctuating around $0.002 – 0.005.
It is difficult to say why exactly the coin has not been able to recover from the bearish market trend. Some possible reasons for that include lack of promotion and popularization, and, more substantially, the lack of large and consistent investments.
Nevertheless, given the innovativeness of the project, as well as a greener outlook, opinions about ETN among prominent members of the crypto-community are quite positive.
The ETN price is not likely to change much by the end of 2019, staying around $0.003 price level. As for the Electroneum forecast in 2020, the coin is expected to reach the $0.006 threshold as a minimum. In case a bullish market trend arises, it might even soar to $0.01 or higher. Read More
What is Electroneum?
Electroneum is a dedicated ecosystem for digital payments that makes it possible to store, receive, and send digital assets using only a smartphone without the need for a bank account. The system is powered by ETN, the first cryptocurrency with KYC/AML compliance. Launched by Richard Ells in 2017, it gathered $40 000 000 during ICO. The exceptional speed of ETN transactions allows its use on smartphones; moreover, the mining of ETN itself takes place in a mobile application available for both iOS and Android.
Based on a CryptoNote hash algorithm (just as Monero), Electroneum provides a good level of security and privacy, while also having been designed for mass adoption. The creators claim that ETN can be used to buy anything from milk and bread to mobile top-ups. The creators also claim to have created the “greenest” digital currency, since it does not use the Proof-of-Work consensus mechanism and new blocks are mined in the mobile app only. The energy requirement of the network, even with tens of thousands of transactions, is that of a single lightbulb.
The iOS and Android clients for Electroneum are available in more than 20 languages, making it highly accessible to the broad public, in line with its claims. In a similar timeframe, the Electroneum project experienced faster project popularity than Facebook or Twitter.
Electroneum (ETN) Wallet
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