Although one would expect a lot better momentum affecting Electroneum right now, it seems the altcoin is struggling a bit. This is primarily because Bitcoin’s net loss is dragging all altcoins with it, and ETN is no exception at this time. That doesn’t mean the Electroneum price will remain in the red for very long, as recent developments have shown things can easily turn around with no real issues.
Electroneum Price Run Takes a Breather
After a very solid week last week, it is only normal the ETN price run would face a bit of a setback. Small losses are noted across all cryptocurrency markets right now, and it seems Bitcoin is to blame for this recent trend. More specifically, all altcoins are linked to Bitcoin in one way or another, and the negative trend is spreading through more and more markets in quick succession.
Over the past 24 hours, Electroneum has suffered a 1.7% setback in USD value. That is not something to be overly discouraged about, as it pushes the value down to $0.0193. That is still pretty close to the $0.02 mark, and a bounce back should be expected sooner rather than later. There is also a 1% net loss against Bitcoin itself, although that is only to be expected when Bitcoin continues to lose value.
Looking across social media, it is evident there are still plenty of positive things happen behind the scenes of Electroneum. The recent interview with Richard Ells shows how ETN plans to improve mass adoption and reach 20 million people in the near future. A very ambitious goal, although ambition will ensure future growth first and foremost.
In the latest #interview with Richard Ells at @CoinReportNews was mentioned that #ETN #Electroneum have plan to be adopted by 20 000 000 people if we reach this we will be in #top5 #Crypto #cryptocurrency and best #altcoin for more read this & please share https://t.co/ttFT8NeAae
— Mr.CryptoCZ (@cechv2) October 21, 2018
There is also a rather interesting article which seems to indicate Electroneum alongside Graft, is one of the currencies that can make a lot of people good money moving forward. While there may certainly be some truth to that statement, it is evident people continue to expect big things from ETN at this time. Whether or not there will be any major developments in this regard, remains to be determined.
Last but not least, it would appear a new Electroneum wallet has been released which allows for remote mining capabilities. As is always the case in this industry, such projects need to be scrutinized first and foremost, as it seems unlike the “free ETN offer’ associated with downloading the wallet is legitimate. Even so, there is a genuine buzz surrounding this altcoin which cannot be denied.
It will be interesting to see what the future holds for Electroneum based on the current circumstances. As long as Bitcoin remains in the red, altcoins will not fare much better just yet. Even so, all of the excitement surrounding ETN should result in a price increase moving forward. For the time being, the bearish pressure needs to be endured, although anything can happen in the blink of an eye.