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.
Today’s Electroneum (ETN) price is $0.003237 with a 24-hour trading volume of $89,861.98. Electroneum is down 5.32% in the last 24 hours. The current CoinMarketCap ranking is #381, with a live market cap of $58,000,087. It has a circulating supply of 17,920,271,005 ETN coins and a max. supply of 21,000,000,000 ETN coins.
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.
Electroneum Overview
Electroneum Overview
| Coin | Symbol | Price | Marketcap | Change | Last 24h | Supply | Volume (24h) |
|---|---|---|---|---|---|---|---|
 | ETN | $ 0.003200 | $ 57.39 M | 5.51% | 17.92 B | $ 93.96 K |
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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 fork
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:
ASIC-friendly
Emphasis on rapid payments
Fee increases
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 highlights
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.
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 Technical Analysis
Electroneum is now trading in a downward trend channel. It has been collecting a lack of interest as of late, with volume that has been lagging behind and a gradual meandering slide back to an old price level. She has noticed some modest movement upward, and the stochastics point to a moderate buying opportunity; but, the smart money would wait for a larger push over the line before making a purchase decision.
Electroneum Price Predictions from 2020 to 2030
Wallet Investor
A wide range of digital currencies, including Electroneum, have their Electroneum price predictions projected using technical analysis. ETN is a viable investment choice if you’re seeking virtual currencies with a high rate of return. In the year 2022-05-23, the price of Electroneum was 0.00341 US dollars. Today, if you buy Electroneum for $100, you’ll get 29339.37 ETN in your wallet. The price estimate for 2027-05-22 is 0.00928 US Dollars, based on our long-term projections. A five-year investment is predicted to result in a revenue increase of around +172.14 percent.
Coincodex
The value of one Electroneum is now estimated to increase by 5.07 percent and reach $ 0.003607 by May 28, 2022, in accordance with our most recent Electroneum price projection. Our technical indicators suggest that the present attitude is bearish, and the Fear & Greed Index is indicating that investors are experiencing extreme fear. In the past 30 days, Electroneum saw price volatility of 16.30 percent and had 10 out of 30 (or 33 percent) days that were profitable. According to the prognosis we have for Electroneum, now is not a good moment to purchase Electroneum.
Cryptopolitan
Deep artificial intelligence-assisted technical analysis of Electroneum’s previous price data was used to produce price predictions/ETN forecasts. All of the historical data about the ETN coin, including previous price, market cap, and volume, is collected by us to the best of our ability. Investing in digital cryptocurrency is a smart move if you want to get a decent return on your money, so read these forecasts.
Electroneum Price Prediction 2022
Electroneum’s price is anticipated to fall to a minimum of $0.004 in 2022, based on our extensive technical analysis of previous ETN price data. With an average trading price of $0.004, the ETN price can reach a maximum level of $0.005.
Electroneum Price Prediction 2023
Electroneum’s price is expected to drop as low as $0.006 in 2023. At $0.007 on average during 2023, the Electroneum price might rise to a maximum amount.
Electroneum Price Prediction 2024
In 2024, the price of Electroneum is expected to drop to $0.009, according to price forecasts and technical analysis. With an average price of $0.009, the ETN price may go as high as $0.011.
Electroneum Price Prediction 2025
Electroneum is predicted to be priced at a minimum of $0.014 in 2025, according to our forecast. By the year 2025, the average price of an ETN is expected to be $0.014 and the highest price is expected to be $0.01 6.
Electroneum Price Prediction 2026
In 2026, the price of Electroneum is expected to fall to a minimum of $0.020. The ETN price might rise as high as $0.024 with an average projected price of $0.021, according to our research.
Electroneum Price Prediction 2027
Electroneum’s price is expected to fall to a minimum of $0.029. The greatest value of the Electroneum price in USD is $0.035 with an average trading value of $0.030.
Electroneum Price Prediction 2028
Electroneum’s price is expected to drop as low as $0.041 in 2028. Price levels for Electroneum in 2028 are projected to be $0.049 with an average trade price of $0.042.
Electroneum Price Prediction 2029
The price of Electroneum is anticipated to fall to a minimum of $0.060 in 2029, according to the forecast and technical analysis. The ETN price might go as high as $0.071 and as low as $0.062, depending on supply and demand.
Electroneum Price Prediction 2030
Electroneum’s price is expected to drop as low as $0.084 by the year 2030. With an average price of $0.086 throughout 2030, the Electroneum price might reach a maximum value of $0.10.
ETN Price Prediction by Industry influencers
There has been a recent uptick in the use of ETN. According to the CEO and creator of the award-winning firm that developed Electroneum, “we are the obvious choice if seeking for a cryptocurrency with genuine users,” therefore many independent businesses have begun adopting the coin. This might have an impact on the price of ETN in the future, potentially driving it to all-time highs.
Conclusion
You now understand what Electroneum is, its applications, and pricing forecasts over the next five years. There is little question that if Electroneum achieves its goal, it will grab a large market of more than two billion consumers.
According to our detailed technical analysis of recent ETN price data, the price of Electroneum is expected to decline to a minimum of $0.004 in 2022. The ETN price can reach a maximum of $0.005 with an average trading price of $0.004. Electroneum’s price is anticipated to fall as low as $0.084 by 2030 for long-term HODLers. With an average price of $0.086 in 2030, the Electroneum price might reach a high of $0.10.
As previously noted, cryptocurrency is volatile, and it is always a good idea to consult with a financial consultant before investing or conducting research. If you are interested in the project, you should keep a careful eye on its progress so that you can invest at the perfect moment. This is just if you determine it’s a better investment based on how successfully they address genuine concerns.
FAQs about Electroneum
What is the highest expected ETN price in 2022?
At the end of 2022, the ETN price is predicted to hit a high of $0.005.
Is Electroneum cryptocurrency a decent coin to buy?
Electroneum’s value is projected to climb further as scarcity encourages price increases. Please keep in mind that each investment involves some risk. Simply invest in what you can do before drawing any judgments and conducting as much research as possible.
How high can Electroneum fly?
By the end of the year, the average price of Electroneum (ETN) might be $0.004. According to the five-year forecast, the coin will easily hit the $0.021 threshold.
Source: https://www.cryptopolitan.com/electroneum-price-prediction-2/