Friday, June 21, 2024

Electroneum Price Plummets After Promised Momentum: The Mobile Cryptocurrency drops by 12% in the last 30 Days

Over 1000 cryptocurrencies have been launched into the market after the initial success of Bitcoin. However, Electroneum, unlike other cryptocurrencies, has been designed for mass adoption. According to the latest trade reports, Electroneum has traded flat for a week now, signifying the sluggish price movement of the coin. Over the last 25 days, the Electroneum price has fluctuated drastically. On 8th August, ETN was trading around 0.00000041 BTC. As of 1st September 2019, the Electroneum coin price has plummeted down by 12.19%. While people are finding reasons to invest in Electroneum due to the 3-tiered verification system that makes it one of the safest blockchain under existence, the dramatic down surge in the price movements shows another story.

What the current statistics of Electroneum say?

  • Circulating Supply of Electroneum was at 9,796,010,576
  • With a Return on investment of 96.29%, the 24-hour trading volume in the altcoin was US$161,215
  • Electroneum’s Market Cap was around US$34,314,511
  • Against Bitcoin, Electroneum was valued around 0.00000036 BTC
  • Electroneum price was trading around $0.003503

However, according to market experts, Electroneum might be able to escalate in the next couple of days. Buyers are anticipating that there will be some kind of improvement in the ETN prices.

As per the data retrieved in the last two weeks, Electroneum price, at first, was seen hovering at the peak point of 0.00000041 BTC. It dropped to 0.00000037 BTC, falling by 9.75% a couple of days later. It then again increased to 0.00000039 BTC by 5.39% the very next day after the fall.

There are some significant differences between Bitcoin and Electroneum. For starters, compared to Bitcoin’s 21 million maximum mark that can exist, ELectroneum is way more ahead at 21 billion. The best part, ETN provides traders with privacy features as well for hassle-free trading experience. Electroneum, unlike other cryptocurrencies, concentrates on speeding up micro-transactions, like sending money to friends, making payments for apps, and purchasing mobile games. The significant difference between Bitcoin and Electroneum is that Electroneum has its own mobile miner, wallet, and mobile application, all of which Bitcoin lacks.

Price Forecast for Electroneum Coin?

Considering the Electroneum chart, it has been somewhat flat for a week or so. Electroneum has made a marginal decline of 1.4% a couple of days back. Marketers believe that Electroneum will hover around the current level for the next few days. For now, the support level of an altcoin is at US$0.003434, and the immediate resistance at US$0.003484. There is a lot of expectation from Electroneum after the recent upgrade of the blockchain. Since the beginning, it has shown an ample amount of potential. However, the latest figures have cleared the imminent strategy of Electroneum coin. In the present scenario, the short-term trend in Electroneum is bearish, meaning it is likely to fall. Experts say this is the perfect time to invest in Electroneum considering the future prospects, as it will provide with a right amount of returns.

Monesh Kumar
Monesh Kumar
Monesh Kumar is a cryptocurrency and blockchain enthusiast. He trades cryptocurrencies and holds some but he prefers holding Bitcoin, Ethereum & Cardano.

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