While most of the cryptocurrency markets have turned bullish once again, it seems there will always be some exceptions. A fair few people will be surprised to see the Electroneum price is still bearish at this time. Its losses in both USD and BTC value continue to pile up, which is not necessarily what most people would have expected to see right now.
Electroneum Price Can’t Catch a Break
It is safe to say the Electroneum market has seen some interesting momentum in recent months. When most markets were down, the value of ETN would often offer a bit of a reprieve. That is no longer today, although the reason why remains unclear. With all top markets enjoying bullish momentum, it is all the stranger to see Electroneum turn uber bearish all of a sudden.
Over the past 24 hours, the Electroneum price has lost nearly 6% in USD value, driving the price down to $0.005832. There is also the 8.82% loss over Bitcoin, which is something to be even more concerned about right now. This particular drop has forced ETN down to 150 Satoshi, a value traders hadn’t expected to see for quite some time to come. Even so, ETN is doing the exact opposite of all other markets, for some unknown reason.
There is another big Electroneum-related development which can put a positive spin on the ecosystem. More specifically, there is a partnership involving ETN and South Africa’s The Unlimited mobile provider. Users can earn double airtime and double data when they top up their balance with Electroneum. It is a major development for this mobile-oriented cryptocurrency, although it doesn’t appear to impact the price in a positive manner.
Are you in #SouthAfrica?
— ETN Academy (@ETN_Academy) March 5, 2019
As far as the ETN community is concerned, it would appear another “call to arms” is on the horizon. CryptoLady wonders which community is stronger between Digibyte, XRP, and Electroneum. So far, it seems as if Digibyte is getting the most votes, even though these Twitter polls never amount to much in the end. For the time being, however, it is an interesting “debate” to keep an eye on.
— CryptoLady (@CryptoLadi) March 5, 2019
CryptoSuaveA is wondering how and when Electorneum will make a strong impact in the price department. Although the current crypto winter has not lasted over two years – it has been in effect for 17 months – it seems as if ETN is turning wintery again. Additionally, the currency saw a fair few short upward bursts whereas other markets remained in the red. As such, it seems ETN will do just fine in the long run, despite the current minor setback.
#ETN got wrecked bad this crypto winter that has lasted 2+ years. Wonder how the come back will look.
— CryptoSuaveA (@JonathanDoesIt) March 6, 2019
All things considered, it seems the value of Electroneum will return to normal levels sooner or later. While this wave of bearish pressure is rather unexpected at this time, it seems there is nothing to be overly concerned about as of right now. The ongoing mobile expansion is still in play. With this interesting partnership in South Africa, a valuable precedent has been created.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.