As is usually the case when a new week of cryptocurrency trading commences, there is some anxiety among traders and enthusiasts. Mondays are usually pretty brutal for Bitcoin and altcoins, although the expected bearish pressure is nowhere in sight just yet. Most top markets are still in the green, and it would appear the Electroneum price is poised to hit $0.007 again.
Electroneum Price Momentum Remains Solid
In the world of alternative cryptocurrencies, a positive Bitcoin price trend is needed to note some gains. While that is not necessarily a problem in the short-term, one also has to acknowledge things can get quite volatile rather quickly. For now, the Bitcoin price remains in the green, although the price difference is minimal at best. The same goes for most altcoins, which note small to medium-sized gains while the positive momentum lasts.
For the Electroneum price, the past 24 hours have been rather positive. A strong increase in USD value of over 5.5% is the direct result of gaining 3.5% in BTC value. While those numbers are more than respectable, the hourly charts are already showing some signs of weakness, which is never a good sign. Mondays are usually not a positive time for cryptocurrencies, but today may prove to be a bit different.
There have been some positive developments regarding Electroneum over the weekend. A new merchant is looking to accept ETN as a payment method, alongside Bitcoin. Although TravelInfinity is not a big company just yet, it is noteworthy to see the increasing merchant adoption of ETN firing on all cylinders. Cryptocurrencies should be used for spending, rather than hoarding, after all.
— TravelInfinity (@Travelnfinity) December 10, 2018
Secondly, there is still some positive momentum regarding the Electroneum team attending Mobile World Congress in 2019. The current objective is to forge additional partnerships with major brands. Electroneum is, for those who are unaware, a mobile-oriented cryptocurrency first and foremost. Events such as MWC are a major deal for this ecosystem. Which new deals with big brands will be announced, remains unclear at this time.
Now it's confirmed #ETN #Electroneum @electroneum will be at #mwc2019 #mwc19 in Barcelona in #february we can announce more deals with big brands. #gsma #vendors #operators #mvno have opportunity to be part of #Crypto revolution join our #Fintech miracle https://t.co/nt1fQMVSIx
— Mr.CryptoCZ (@cechv2) December 9, 2018
Last but not least, it would appear as if the mobile mining kerfuffle pertaining to Electroneum has been resolved. Although the developers initially didn’t show any intent on looking into the matter, it seems the problem could be rectified rather easily. As such, mobile mining of ETN is possible once again. A small victory for the community, although the team’s focus still lies on cloud mining for the foreseeable future.
— cryptorosscoe (@cryptorosscoe) December 9, 2018
Based on all of these developments, it is only normal things are looking good for the Electroneum price at this time. The main question is whether or not these gains can be sustained for more than a few hours today. All it takes is one small Bitcoin price dip to send all altcoins back in the red again. Whether or not that will happen, remains to be determined.
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.