If Electroneum cryptocurrency has caught your attention and you want to know more about its background and future, you are in the right place. Electroneum was created in 2017, and today, it is one of the top cryptocurrencies in the market.
Electroneum, operating seamlessly on mobile devices, was built to ease and secure transactions on smartphones. In addition to that, users can mine ETN coins into their Electroneum wallets using their smartphones.
This guide will also look at Electroneum’s potential for investment. So, by the end of this guide, you will have a detailed understanding of what the Electroneum coin is and how it is distinct from other digital assets.
What is Electroneum (ETN)?
Like every other digital asset today, the Electroneum coin is a digital asset created on blockchain technology. This digital asset is unique because it is a smartphone anonymized cryptocurrency that operates on its blockchain compared to other cryptocurrencies that usually operate on Ethereum or another blockchain. Another feature that makes the Electroneum network distinct focuses on portable devices and fast micropayments.
Electroneum (ETN) is a British cryptocurrency initially designed for the mobile gaming and online gaming markets. The company’s name and currency are derived from electron, which powers the entire cryptocurrency industry. It promised to be a massive shift in the market and was designed with mobile functionality in mind. In January 2020, Google introduced cosmetic improvements to their “mobile mining” process, which will give them $3 each month for using their app. It is mining not any coins but your data.
Furthermore, Electroneum’s ecosystem was designed to be easy for everyone to use and access. Users can mine ETN tokens from their smartphones, and they can quickly transfer their mined tokens directly to their ETN wallets.
The team behind ETN is to offer a smartphone-based micro crypto bank to those that cannot use traditional financial instruments like debit cards, Google Pay, or Apple Pay. Again ETN team aims to offer the quickest and safest crypto-transaction platform with minimal fees for the world’s unbanked population.
Today, Electroneum’s ecosystem has allowed cryptocurrency traders to mine ETN from the comfort of their homes using their smartphones, giving them more financial flexibility.
|Coin||Symbol||Price||Marketcap||Change||Last 24h||Supply||Volume (24h)|
|ETN||$ 0.003549||$ 63.73 M||1.03%||17.92 B||$ 204.88 K|
The team behind Electroneum ETN
The team comprises various professionals, including crypto consultants, senior engineers, and industry experts.
Richard Ells founded Electroneum in 2017 due to his interest in cryptocurrencies. However, he sought the technical abilities of his team at Retortal Ltd, one of Richard’s other companies, to develop the cryptocurrency. In September 2017, Electroneum Ltd made ETN exchange tokens available for sale in the Initial Coin Offering (ICO), also known as a token sale. The token sale was a great success closing early after achieving the maximum Bitcoin and Ethereum targets. It is essential to know that the Electroneum Ltd ICO is still the record holder for the largest ICO ever by participant numbers (115K+).
Electroneum, which was created to be ASIC-resistant, underwent a fork this summer, making it ASIC-friendly. The fork went underway due to the inconsistency of block timing, which occurred due to GPU mining waves causing delays in completing transactions.
Furthermore, transaction fees were raised to 0.1 ETN, the block time was increased, and the block reward was increased. Also, the complexity in mining ETN becomes more reactive, thus resulting in a more flexible blockchain network.
It was forked twice this year: the first split eliminated ASICs from the network, while the second reinstalled them. What matters most to individuals is that their coins are entirely secure throughout both divisions and now have the following features:
Emphasis on rapid payments
Enlarging the block size
Lowering the difficulty window
Increasing the block reward
How does Electroneum (ETN) work?
Electroneum (ETN) uses the CryptoNote algorithm based on Bitcoin’s code. What makes this algorithm special is that it allows complete transaction confidentiality. ETN network generates a one-time address to initiate financial transactions, in which traders’ confidential information to encrypted due to the ring signature technology. Electroneum’s ring signature technology makes it difficult to know who made a transaction and the beneficiary because it encrypts the information of financial transactions.
Electroneum users have held and sent ETN tokens globally at a low cost since their iOS and Android applications. However, its complementary platform, Anytask.com, launched in 2020, has helped attract many users today.
Another solution launched in the Electroneum network, which has attracted many users today, is ETNDonate.com. This solution makes it easy for charitable organizations to promote themselves for free. In addition, ETNDonate.com also enables international charitable contributions in ETN at no additional cost, thus ensuring that these donations get to their intended recipient without incurring cross-border wire transfers.
In 2019, Electroneum’s team improved its security protocol and servers, making it immune to 51% of attacks.
When it comes to regulatory compliance, Electroneum implemented KYC and AML compliance procedures in 2018 ahead of the European 5th Anti-Money Laundering Directive to ensure that every user is thoroughly scrutinized and that Electroneum operated following the 5th EU AML directive.
Electroneum also partnered with Host Havoc, one of the world’s top five gaming platforms today. This partnership will allow more than 4.1 million users to rent servers for 25 games.
The Electroneum community
Electroneum has a sizable community, including over 4.3 million eligible participants. Its social media pages are pretty functional, as of the 2nd quarter of 2021, with 162 14 followers on Facebook, 130,839 followers on Twitter, and 23,482 Telegram channel partners.
Nevertheless, their forum is the only location where you can interact with other public individuals and administrators.
What makes Electroneum (ETN) unique?
When Electroneum was launched, it was initially built using the Monero codebase, which focused on the gaming and gambling industry. However, things changed, and the digital coin turned its sight to creating a platform that solely allows instant cross-border payments.
However, Electroneum migrated from the Monero blockchain to the moderated proof-of-responsibility (PoR) blockchain in Q2 of 2019 to offer better payment services.
Even though the main objective of Electroneum is not very different from what other projects offer in the crypto market, it is notably distinct on its own. Why? Because it has mainly focused on bringing cryptos an easily accessible option, smartphones.
The goal of Electroneum is to reach out to the millions who do not have access to a banking system but own a smartphone, like PayPal, but with cryptocurrencies. This cryptocurrency takes a unique approach from other digital cryptocurrencies, even in mining. Electroneum effectively removed the need for expensive, dedicated, power-hungry mining devices when it launched the first “mining” app in March 2018.
How many ETN coins are there in circulation?
ETN’s total and circulating supply is currently regulated and limited by the founding team, and it will never exceed 21,000,000,000 coins. There are 10,229,924,760 ETN coins in circulation, representing 49% of all the coins there will ever be.
Ever since Electroneum migrated to its blockchain, miners were chosen by the project to ensure reliable networks. However, these miners are expected to spend the block rewards responsibly in helping those less fortunate in harmony with Electroneum’s humanitarian agenda. Electroneum’s proof-of-responsibility also reduces the amount of energy required for the mining process, as Electroneum ensures that investors experience an eco-friendly mining process. These, in addition to the Electroneum app, are the two ways to mine an ETN coin.
Electroneum Price History
When Electroneum ICO was launched in 2017, it closed early after reaching a hard cap of $40 million. Electroneum has a market cap of $272,031,404 billion, and it is the first-ever cryptocurrency to come from Great Britain.
Even though Electroneum had a successful ICO, it faced a significant hiccup. Many of its investors got hacked, which led to a drastic price drop in November 2017. As seen in the historical data chart below, ETN dropped in price from $0.23 to $0.06.
Afterward, the Electroneum price was revived after the problem was sorted. Hence, ETN price recorded a growth of 122% because it increased from $0.06 in November 2017 back up to $0.22 in January 2018. Like most other digital currencies, its price has declined since January 2018. Later in January 2021, the Electroneum price was reduced again, remaining at $0.005.
So far, Electroneum has performed averagely if we are to compare it with other cryptocurrencies. This digital coin has also been able to generate interest from investors because it can be mined using just a smartphone.
Electroneum’s current price
At the time of writing, ETN’s price is USD 0.015191, and the current value of its 24-hour trading volume is USD 1,169,287. However, Electroneum cryptocurrency has been down by 1.70% in the last 24 hours. Also, its current CoinMarketCap ranking is #283, with a live market cap of USD 272,031,404. In addition, ETN has a circulating supply of 17,907,175,177 ETN coins and a max. supply of 21,000,000,000 ETN coins.
Electroneum (ETN) Technical Analysis
From the above technical analysis, it is evident that the pair ETN/USDT could attain a price of $0.0152. ETN/USDT 4-hour chart price is below the 50-day moving average and the 100-day moving average.
According to the fundamental analysis, the bulls have seemed to slow down. The overall Electroneum price action still trades with a bearish price action momentum. And this indicates a good time to buy Electroneum, as there may be a bullish t very soon.
Electroneum (ETN) price prediction for 2021 t0 2026
Electroneum’s strides in terms of technology, listing on cryptocurrency exchanges, advertising, and so on haven’t helped its price. Additionally, we need to know that ETN entered the crypto market at a historically high point. Because the cryptocurrency market tends to follow Bitcoin in terms of price trends, ETN was bound to lose its original high value almost from the start.
There is no doubt that the Electroneum project has solid support behind it, and its developer team continues to work on the project. Nonetheless, it seems that Electroneum has a chance for a bright future, so let’s review credible Electroneum (ETN) price predictions from expert crypto analysts to see what they say.
ETN Price Predictions 2022-2030
According to Wallet Investor’s short-term price prediction on Electroneum, ETN is expected to trade within USD 0.00486-0.00634 over 14 days. Their one-year forecast expects the coin to reach 0.00866 USD. The price prognosis for 2027 is optimistic for ETN, as it is expected to reach a maximum market price of $0.0227, which is a 328.625% gain from its current price.
TradingBeasts’ Electroneum coin price prediction is quite optimistic. The coin will see a 25.67% price rise by December 2022. They also expect ETN’s average price to increase in 2023, and we may see ETN soar as high as $0.0113790.
According to Price Prediction, ETN is expected to have a maximum price of $0.008 and a minimum price of $0.007 in 2022. By 2023, 2024, 2025, and 2026, ETN will have a maximum price of $0.012, $0.017, $0.024, $0.036. ETN is also expected to have a maximum price of $0.17 by 2030.
ETN Price Predictions 2022
As more updates are released in the Electroneum ecosystem to further speed up cross–border transaction rates while also lowering fees, widespread adoption could be imminent. The proper traction could see ETN finishing 2022 at a maximum price of 0.0074 USD and an average price of $0.0070.
Electroneum Price Predictions 2023
Our Electroneum price prognosis expects an upward trend in 2023, with a minimum ETN price of 0.0070 USD and an average value of 0.0079 USD. The prediction-based maximum price of this asset is 0.0083 USD.
Electroneum Price Predictions 2024
If market sentiments favor ETN in 2024, the asset could reach a maximum value of $0.0095. However, price dips are expected within the year due to correction in the crypto market. The minimum price of ETN could drop to 0.0065 USD in 2024, while its average trading price is expected to be in the same range as 2023.
Electroneum Price Predictions 2025
Electroneum could be a serious investment option by 2025, as the asset’s price crosses the 0.01 USD mark. A maximum coin price of 0.0109 USD and a minimum value of 0.0100 USD are expected for the year.
ETN Price Predictions 2026 and Beyond
If Electroneum’s bullish momentum continues beyond 2025, investors could be set for more returns on investment. We might see pullbacks in 2026 but a price recovery in 2027. By 2029, ETN could well be trading above the $0.002 mark and closing up its current ATH.
The maximum, minimum, and average coin prices for 2030 are $0.0247, $0.0234, and $0.0241, respectively.
Where can you buy Electroneum?
Electroneum is popular among online exchanges focused on offering mobile services. One cryptocurrency exchange where you can trade ETN currently is Huobi Global. Other notable ones include KuCoin, Biki, BiONE, HitBTC, Sistemkoin, and Liquid. Once you choose the exchange, the process is simple:
Electroneum’s price prediction suggests they seem to be an excellent long-term investment, but mixed projections exist. According to the forecasts, if everything works in its favor, it will hover between $1-1.00 for an investment return above 5000%.
As stated earlier, cryptocurrency is volatile, and it is always a good idea to reach out to a financial adviser before investing or doing your research. If you love the project, you should closely track its developments so you can invest at the right time. If you decide it’s a better investment, though, depending on how well they handle actual issues.
Nevertheless, this project’s constant developments plus support and growing popularity should positively affect its price value in the future.
Will Electroneum replace Bitcoin?
According to these forecasts, such a thing might not happen in the future.
Will Electroneum (ETN) go up?
Electroneum is one of the cryptocurrencies with many practical applications. The team behind it is working with emerging economies and the gambling and telecommunications industries. The probability of Electroneum’s price growing is high.
Is Electroneum a good investment?
As seen in the price predictions above, it is good to invest in Electroneum. Not only that, Electroneum has a competent team with defined goals and a massive community of supporters. Electroneum owns a well-seasoned, dedicated team tasked to run it regularly. The crew has quickly developed other features and fixed different problems in its ecosystem. However, ETN live customers reached about 263,000 in January, and now they reach more daily. They can potentially earn interest from investors and investors. It is a significant investment.
What is ETN’s price prediction for the future?
Since there are over 2 billion smartphone users worldwide, this opens a world of possibilities for Electroneum. If the team behind Electroneum can achieve all its goals, including establishing cooperation with such companies as Google and Facebook, then Electroneum’s growth is inevitable.