When all cryptocurrency markets are still on wobbly legs, things will get pretty interesting in the near future. For Electroneum, there is a lot of positive momentum shaping up, even though it hasn’t affected the value all that much. Despite some minor Electroneum price uptrend shaping up right now, it remains to be seen if the momentum can be sustained over the coming days.
Electroneum Price Momentum Picks up Slightly
On paper, all of the cryptocurrency markets should evolve independently of one another. In the real world, that is not always the case. Virtually every altcoin relies on Bitcoin’s market trend first and foremost. Electroneum is not necessarily an exception in this regard, even though the altcoin has shown a tendency of doing its own thing every now and then. For today, it seems to follow the overall market trend, although that can always change when people least expect it.
Over the past 24 hours, the Electroneum price has increased by 0.6% in USD value and 0.3% in BTC value. Neither of these gains is spectacular nor promising, but it is still better than continually bleeding value. Because of these minor gains, one ETN is priced at $0.006321 or 182 Satoshi once again. All things considered, this may be the beginning of a positive trend, although one has to wonder how things will evolve in the near future. If Bitcoin were to turn bearish again, things can easily turn bearish.
On social media, there appears to be an interesting sentiment toward Electroneum as of right now. More specifically, One Reserve is intent on highlighting the positive aspects of this currency, which primarily focuses on reducing transaction fees, the mobile ecosystem, and generating wealth. On paper, Electroneum has all of the necessary traits to become successful in the long run, although the reliance on Bitcoin can prove to be very problematic first and foremost.
.@wef #Electroneum's epicentre is a smart digital currency created by progressive, enterprising people. #ETN significantly reduces transaction fees removing the institutional shackles on the individual and empowering and encouraging creativity and a portal to wealth generation.
— One Reserve (@one_reserve) January 30, 2019
Secondly, it would appear the closed beta of the iOS mobile mining app is still going according to plan. Although only a few dozen people have access to the application right now, the overall feedback seems to be rather positive. It is refreshing to see things just work in the cryptocurrency world, instead of communities hyping up something which eventually fails miserably. Mobile mining might not necessarily be the way to go moving forward, yet it offers a pretty interesting alternative regardless.
— Latin_Crypto_Music (@latincryptmusic) January 30, 2019
What is also rather interesting to note is how most cryptocurrency websites have an absolutely horrible website. Although that might not seem like a big problem, it is evident novice investors who don’t browse Telegram, Discord, or Bitcointalk would be turned off by the bland state of such sites. Electroneum has recently updated its website in a professional manner, which seems to be received well by the community so far.
With all of this information in place, one has to wonder what will happen next to the Electroneum market as a whole. Although it is evident there is some positive momentum to take note of, there is also a chance bearish pressure will ruin any attempt at an uptrend once again. For the time being, the best advice is to remain patient first and foremost, even though expectations for Electroneum may be rather high.
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.