It would appear some of the crypto market swills ee their own form of positive market momentum today. Although nearly all markets are linked to Bitcoin in one way or another, one also has to acknowledge individual developments can spark price excitement. As far as the Electroneum price is concerned, it would appear there is plenty of excitement to go around. Key developments and a new exchange listing pave the way for a bullish period.
Electroneum Price Turns Bullish Again
After what can only be described as a bit of a rough weekend, the start of this week wasn’t too promising for Electroneum. Although there was no real reason for bearish pressure, most of the markets went through an uncertain trend for a little while. It now seems all of those doubts are out of the way, as multiple markets resume their bullish momentum without too much effort. Electroneum is one of those currencies, which further confirms it is in a rather good place right now.
To put this in perspective, the Electroneum price has risen by 12% in USD value and 11.6% in BTC value. Because of this somewhat unexpected big uptrend, the Electroneum value has risen to $0.006478, or 166 Satoshi again. This is a vast improvement compared to the 143 Satoshi level a few days ago. Plenty of traders got worried at that time, for rather understandable reasons. Its trading volume remains relatively low, but that situation may change fairly soon.
As confirmed by the Huobi Global exchange, it would appear ETN is making its way to this platform later today. Deposits will be opened first, and both ETN/BTC and ETN/ETH trading markets will go live the next day. Electroneum withdrawals will not be accessible until the 15th, which is how these listings usually go. The community expects this listing to introduce a lot more trading liquidity, although that is much easier said and done.
https://twitter.com/skr312dd/status/1105726462487916545
There is also a new development update provided by the Electroneum team. Over the past few days, there was some concern as to whether or not new developments were ongoing. It seems those concerns were unjustified, as the project is still moving forward. As is usually the case when updates are shared, some people couldn’t care less about actual developments and just want more exchange listings. With Huobi Global now checking that box, a few interesting days may lie ahead.
MWC19 was a great success. We gave you two exciting announcements including our launch in South Africa and the release of our affordable $80 Electroneum M1 Smartphone. In this video, CEO Richard Ells discusses some of our developments since the show: https://t.co/s0mFADMzVO pic.twitter.com/LssvwAIb2c
— electroneum (@electroneum) March 12, 2019
There is also an interesting observation by 47 Bullion to take note of. Over the past few years, mobile “click farms” have become a lot more common. This Twitter ponders if turning those devices into Electroneum cloud miners through the iOS and Android apps would be an option worth exploring. After all, it is a good way to generate a passive income, even though no one will get rich from doing so anytime soon.
Look at all these #ETN miners https://t.co/UMwEk6zBPa
— 47Bull.fuel (@47Bull) March 12, 2019
The main question is whether or not Huobi Global can offer ETN the trading volume it so direly needs. While getting listed on such a platform is a big development, if the market doesn’t deliver, it can be removed rather swiftly as well. Speculators who wanted a big exchange’s support should be pleased with this development. Once the excitement calms down, however, the ETN price could be in for a rather rough ride.
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.
Image(s): Shutterstock.com
