Blockchain technology is the biggest revolution in digital financial industries and if you have invested in Electroneum and concerned about Electroneum price prediction then here we go.
Other than Bitcoin there are 2000+ cryptocurrencies traded in the market and out of them the Electroneum is among the top 100, so definitely it is worth understanding the price prediction of Electroneum.
Cryptocurrency is one of the most volatile markets where the price changes every hour with massive corrections, so ideally no one can predict the actual price.
But we can get ideas from the technical analysis, expert reviews and market sentiments to analyze the future price prediction of Electroneum (ETN).
Electroneum(ETN) is the first mobile mining cryptocurrency that brought revolution in the blockchain mining back in the year 2017, hence let us first learn what is Electroneum?
Then later we will go through how it works and what was his past price history and what expert says about Electroneum’s future price forecast.
What is Electroneum and why need its Price Prediction?
To date, we have heard many cryptocurrencies including Bitcoin, Ethereum, etc built upon blockchain technology but none of them allow a common user to mine those currencies on the mobile phone.
Their prime need is to have at least CPU, GPU or ASIC to mine or validate the cryptocurrencies, which is a result, a person like you and me can not validate transactions on the network.
If you are dependent on a few groups of random people to validate transactions then transaction speed will slow down, you have to pay higher transaction fees and even delayed in the end to end transaction.
To address these technical issues back in the year 2017, Electroneum started a blockchain technology-based mobile mining cryptocurrency called Electroenem(ETN).
It was started in September 2017 in ICO and got worldwide appreciation from different blockchain experts and collected nearly around $40million USD.
The Smallest unit which works on the Electroneum blockchain network is known as ETN, that’s why people refer to Electroneum coin as ETN coin.
The other aim behind having Electroneum is to reach around 1.7 billion people worldwide who have no access to the bank accounts or unbanked worldwide people.
So they are planning to bring this as a worldwide digital payment system, which can be easy to mine and easy to transfer from one wallet to others with low cost and using smartphones.
How Electroneum (ETN) Works?
Electroneum has created a mobile mining app where it not only helps to mine the ETN coins but using the app you can also send or receive the ETN coins.
It is available for both Android and iOS mobile phones and a simple click installation process.
Once you download, make sure to set own password to login wallet. It has mainly three options available on the screen.
Click to the wallet, where the available ETN balance will display and the option to send or receive ETN will be done from the same window.
If wiling to mine ETN coin for free, go to Miner and just click to start and your mobile will start mining even at night while you are sleeping.
If you are willing to check the current worth of ETN coin price in any local currency then better to go in value and do verify the exchange rate in various country local currency.
Hence in the concept of mobile mining, it will be done on every smartphone which increases the number of validator nodes worldwide and increases the speed of transactions.
Well, no one can assure the bright future of any cryptocurrency but in terms of technology, we can put a few points together.
- While comparing to Bitcoin which has 21 million total supply here Electroneum has 21 Billion ETN.
- It is like a privacy coin Monero where no one can trace the sender or recipient of the coins.
- Its transaction speed is higher as compared to other Bitcoin, Ethereum of many major cryptocurrencies.
- Comparing to other cryptocurrencies, it is the best fit for micropayments due to very low transaction fees.
All the above points are good enough to understand the Electroneum, before discussing its price prediction. Let’s understand the price history of ETN and where this can head forward.
Electroneum Price History to Date (2019)
When Electronneum was started, I was among the person who has invested in ICO around $100 worth of ETN.
The moment when I bought this coin in ICO the price was around 0.01$/ETN and later on they have listed this coin first time on Cryptopia cryptocurrency exchange.
After their official launch within an hour, its price shoot to more than 0.18$/ETN and later on same day traded around 0.12$/ETN
Then after there was a large buy-sell order and soon after a few days of launch, the platform was down due to security issues.
Later on, the highest price recorded around 0.18$/ETN in the month of January after that, we all witnessed the drastic price drop in cryptocurrency even BTC dropped from 20K to 3K.
In the same trend, ETN price consistently dropped below its ICO price and currently (November 2019) traded around 0.003$/ETN.
The current market cap is of around 38 million USD and around 9.9 billion coins are in current circulation supply.
Now we all know the history of the Electroneum price movement it’s time to highlight the Electroneum price prediction.
Electroneum Price Prediction for Future
Electroneum price prediction for 2019,2020,2020 is based on technical analysis and expert views.
Where we will consolidate different sources through which we can get an idea of the price projection.
Let’s understand the technical analysis and expert views on Electroneum.
Based on Technical Analysis
Technical analysis is a way to understand the history of the price movement by reading the past buy-sell order chart.
The expert focuses on various parameters on movements of price and based on those points suggest the upcoming possible trend in the same cryptocurrencies.
If you are the major holder of cryptocurrency then probably you will be happy to hear because wallet investor 1-year forecast is 0.0229 USD from the current 0.00387 USD (Nov 2019).
This looks bullish in nature and yes the market cap of ETN is very less which can be easily manipulated, so the above price movement is based on the current price history.
If predicting longterm forecast it’s price can hang around 0.0237$ by Dec 2020 and 0.0332$ by the end of December 2021, and $0.0613 by 2024.
Based on Digital Coin, the technical analysis they have done the expected short term Electroneum price prediction till Dec 2019 is $0.00606 USD however by 2020 it is supposed to $0.00633 USD.
If referring their long term price prediction for ETN till 2023 they are expecting price up to $0.0196 USD, till 2026 it is supposed to rich its initial value of $0.01 USD.
Based on the analysis they have done predicting ETN price by the end of 2020, would be around $0.067 USD.
If looking for long term Electroneum price prediction of 2022 it could be around $0.149 USD however by 2024 they are projecting around $0.2493 USD.
From the above three analyses, you found the different thoughts of people with the price prediction of Electroneum. Now let focus on what an expert says about Electroneum price.
Expert Views on ETN Price Prediction
If we can go through the industries and try to get an idea of what people or expert think about ETN can give you more confidence in what ETN can do in the future.
Well keep in mind, the technical analysis never predicts the future adoption it just read the price movement history but the future adoption can really break all the boundaries.
So let’s go through the expert views or news and try to understand what ETN is offering and is this really going to impact the price.
Recently a post published by Coinbeat where they appreciated the contribution of Electroneum in Brazil the largest country in Latin America.
Electroneum team is planning to launch a blockchain-based digital coin backed by coffee supplies which will be called the Coffeecoin.
Every user how is mining ETN coin using smartphone they also assure them to earn up to $3 worth of ETN in mining per month.
If this continues with wide adoption than the existing 3.1 million ETN community will straight increase to 55 million with the unbanked population of Brazil.
According to them, around 11 million people are unbanked in South Africa but the country is at the top with the holding of cryptocurrencies or digital cryptocurrency.
The only cryptocurrency which started wide adoption in South Africa is ETN due to many retailers started accepting ETN for purchase mobile airtime and Data.
Many taxis are also receiving payments in Electroneum, which means the user acceptance has been started with ETN and that can really shoot price in the coming future if all works the same.
Referring to the news published on Coindesk, Electroneum has launched an 80$ cloud mining android smartphone which initially will only be able to mine ETN.
It is a Google Mobile service certified smartphone which comes with inbuild cloud mining services, it assures to mine around 3$ worth of ETN coin every month.
Users can top up their mobile airtime or data using the earned ETN coin and once all setup is done then the device can even mine offline.
This increases the wide adoption of blockchain technology and cryptocurrencies in South African countries.
Electroneum Price Prediction based on Team
Growth of any platform totally depends on the strong team behind the project and Electroneum started back in 2017 and in ICO itself collected around $40 Million USD.
Electroneum team from the very first day passionate about to transform the world of cryptocurrencies because of the brain behind ETN, Mr. Richard Ells.
He is the founder of Electroneum and owner of the most successful two other digital business SiteWizard and Retortal.
The team is very disciplined and out of a very few crypto projects started in 2017 which got this level of recognition and adoption in the area where they are projected too.
Competition of Electroneum
In terms of solving the unbanked people problems, Electroneum is not the only game-changer if talking about the close competition then there are two.
It is also focused on providing financial services to the banking institutes but luckily it is not projected to the small retailers or the unbanked people.
But the future is unknown they may introduce a new system that can target small retailers, make sure to learn what is Ripple(XRP) and how it works from our detailed guide.
As I said the future in technology is not certain, the brain behind XLM is the same person who started Ripple (XRP).
The objective of the XLM is similar to Electroneum and both focused on small retailers and the unbanked people.
Steller also aimed toward banking and financial institutes so better to learn what is Stellar (XLM) and how it works gives you a good idea.
To support micropayments EOS also jumped into the market and many more so it is a close competitive market.
My View on Electroneum Price Prediction
Electroneum is more focused on targeting the unbanked mobile users where it started its expansion in the countries like Brazil and South Africa.
They have provided a very affordable solution to spend the currencies in the exchange of goods with a single tap on mobile.
In countries like Brazil and South Africa, they have introduced mining smartphones and the ability to top up airtime or mobile data which somewhere already started its wide adoption.
From my point of view in the crypto industry, the things which matter the price prediction of Electroneum is its wide adoption and positive sentiments among the people.
If Electroneum is able to grab worldwide attention, it can break its all-time boundaries in a couple of years because of the strong team behind it.
So Advice to go through their official media handles and get a better idea of what the team is doing and what future plan they have.
If you have any better thought or idea on Electroneum price prediction then share with our readers by commenting below.