Despite some positive momentum brewing behind the scenes, it appears Electroneum’s value is far lower than it should be. Although this appears to be a temporary setback first and foremost, there is a very good chance this momentum might remain in place for quite some time to come. Most community members are not too concerned about this development right now.
Electroneum Price Isn’t Looking Great
The current market circumstances regarding cryptocurrencies are a bit conflicting. More specifically, there is no real indication the markets will improve or see any significant losses in the near future. It creates a bit of an uneasy sentiment, albeit it remains to be seen if things turn around ahead of the weekend.
For the Electroneum price, things are not looking overly great. There is still an 8% net loss in the USD department, and a 7.5% decline against Bitcoin. Because of these developments, there is a fair bit of negative pressure on the ETN market right now, albeit it remains to be seen how long this trend can remain in place. There are some positive developments brewing behind the scenes which should have a positive impact on the value accordingly.
The big news today comes in the form of Harry Redknapp. This former manager of Premier League club Tottenham Hotspur surprised the world by claiming people should get involved in Electroneum. According to Redknapp, this is not a paid or sponsored message, although the community seems somewhat divided on this front.
— ETN 911RS2 (@ETN911RS2) October 18, 2018
Community members are excited about something else entirely, by the look of things. There are those who firmly believe ETN can easily enter the market cap top 10 fairly soon, although the current trend doesn’t necessarily warrant such optimism. However, anything is possible in the cryptocurrency world, and a lot of currencies in the top 10 early in 2018 have dropped off a bit.
— Andy Denton (@andybdenton) October 18, 2018
Last but not least, there is still plenty of excitement among cryptocurrency members to spread the word about Electroneum. Michael Marsh has created another nice image people can share in this regard, as more exposure for this altcoin will pay off sooner or later. Strong communities can make big things happen, as it is one of the big reasons why Dogecoin is still a top cryptocurrency.
— Michael Marsh (@MichaelNMarsh) October 17, 2018
As is always the case in the cryptocurrency industry, altcoins can turn around on a whim’s notice. In the case of Electroneum, there are plenty of reasons to expect an uptrend, yet it hasn’t yet materialized across the exchanges and trading platforms. No real cause for concern just yet, although something will need to change sooner rather than later.