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Electroneum (ETN) rises by 32% amid the mobile remittance app beta launch

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Electroneum
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It’s been more than ten months since the bear’s hug has crushed the cryptocurrency markets. That’s why it’s refreshing to report on a blockchain project that is currently increasing in value. Ironically it’s not only one of the big boys (Bitcoin, Ethereum, etc.) that are suddenly doing well. It’s Electroneum (ETN).

Electroneum is a blockchain technology project which includes a digital asset called ETN. It’s based on the idea of harnessing the power of mobility and combining it with the cryptographic technology that lies behind cryptocurrencies. In fact, mobility is so crucial in Electroneum that users mine coins using their mobile phones instead of computers or dedicated hardware, as it happens with other minable tokens.

Mobile micropayments are also at the heart of Electoneum’s goals, and the project recently released its mobile payment application, in a beta-testing stage. And it seems to be working very well as testers report good news from all over the world about the way the app works and delivers the service it’s supposed to do. All those good news are driving ETN’s price up.

Just in the last 24 hours, ETN rose 32.38 percent in price – that much in a single day for a coin that’s not even in the top 50 cryptocurrencies list, is a thing worth appreciating. It went from $0.005203 to $0.008962 in fewer than forty-eight hours. This coin is having a bullish run in a market in which most other assets have been going steadily down since last December (the scenario is different for them now too, though).

As I write this article, not only the token’s price is rising but also the trading volume, and very dramatically at that. Interest in ETN has risen in such a way that volume has gone up by 216% (from 180k to 570k USD). The rise in both price and volume has happened over two days, which is a fantastic run and it came about as the app was released and the world began to notice it.

ETN, like most other tokens, is mainly pegged to Bitcoin as means of exchange. More than four-fifths of this asset’s trade happen in Kucoin and Cryptopia. This could represent a change of status for ETN which up until now had been a marginal crypto coin that gathered little or no interest from most people in the community. 

This year, for instance, it lost 85% in value from the second to the third quarter. If you’re interested in acquiring some ETN tokens, you don’t even need to buy them; you can just install the app in your cell phone and mine them yourself.

April was the worse month for ETN. That’s when it hit its lowest historical prices, but the rest of the year has not been that good as the token’s value has kept fluctuating around its lowest known values. 

Some bad news prompted the market behavior as the Electroneum system experienced a DDoS (Distributed Denial of Service) attack in that month that caused the project to freeze the accounts of users and to withhold access to their funds while the team dealt with the offense. All those bad news are behind now, but the crypto market is not quick to forgive or forget this kind of event.

As Electroneum released the app’s beta-version this very week, the project’s Twitter feed became flooded with good comments from both individual and institutional users attesting the product’s usefulness. 

Among all those tweets, an Egyptian merchant showed how to set the app up and use it to transact in the real world. Other testers in Reddit were able to transact between the US and Japan in only a few seconds. This is very impressive even by current fintech standards. And it’s all done on mobile phones.

Richard Ells, the project’s founder, and CEO had this to say in his blog about the launch: 

“Easy access for users was the first step and we’ve now had over 1m app installs and we’re proud to say the Electroneum app has the same retention level as Instagram (®)!”

Electroneum boasts 1.6 (and increasingly every day) million users. If that’s the case, it’s already among the most-adopted cryptocurrency technologies in the world. By comparison, Steemit, which is a blockchain social media and content website has slightly more than a million users, but it’s been on the market for much longer.

So keep an eye on Electroneum and ETN. It’s showing promise and usefulness in real-world terms, and you’d be very hard-pressed to find any other coin that went up by 30% in a single day this year (except Ripple’s XRP, of course).

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of PixaBay

Altcoins

TRON Ecosystem New Addition — CryptoDungeons

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CryptoDungeons
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According to the recent Medium post published by TRON Arcade, a blockchain-based RPG called CryptoDungeons is to become the latest hit on the TRON blockchain.

The announcement was published on February 8th, and it states that the CryptoDungeons TRON game is still in development. However, the team is preparing to announce a presale soon, meaning that the official launch is not far away.

About CryptoDungeons

CryptoDungeons was originally developed to be a part of Ethereum’s network. However, the team has decided to bring it to TRON instead. Soon enough, the fans of the game will be able to experience its story, universe, and characters on TRON blockchain.

The game is centered around Heroes who can be bought and used for exploring dungeons, crafting various items, gathering food, and alike. The game also offers five races for players to choose from — Humans, Elves Dwarves, Orcs, and Angels. Additionally, there will also be four classes, including Warriors, Mages, Rogues, and Priests. Each class will have its own unique abilities, with the Warrior class being presented as an example. The abilities that this class features include Strike, Heavy Strike, Shield Wall, Shield Slam,…

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Altcoins

Positive Crypto Price Trend Moves VeChain (VET)

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VeChain
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As many are likely aware of, the previous twelve months were not particularly friendly to cryptocurrencies, and there were two major market crashes since January 2018. However, it could be that investors’ wishes are finally coming true, as the market is currently seeing actual gains. While there is still no certainty regarding this behavior, investors around the world are finding the current development to be quite refreshing.

One interesting development that was noticed these days is the increase of VeChain’s price, which is seeing minor gains at this time.

VeChain (VET) price grows

While most cryptocurrencies experienced some extreme ups and downs during their lifetime, VeChain is usually surprisingly unaffected by the market’s behavior. In fact, its price chart typically shows no major changes, and it seems pretty flat in comparison to other cryptocurrencies.

While this may be a good thing, as the lack of volatility means that the coin is more stable than most, the fact that the price is usually not affected makes the current gains that much more peculiar.

In the last 24 hours, VeChain’s price has grown by 2.16%, placing its value at $0.00401120 at the time of writing. The growth is minor, and the coin’s value only increased by a fraction of a cent, but this is still not typical behavior for this cryptocurrency, which attracted the attention of analysts and investors…

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Altcoins

SOLVE Token Could Be A Huge Long-Term Winner

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Solve.Care
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A lot of articles have been written about an altcoin apocalypse.  With so many tokens entering the market, it is inevitable that not all of them will survive.  When trying to analyze pick out the best projects, the following criteria should be used:

  • Very active community
  • Strong potential for mass adoption
  • Valuable partnerships
  • Experienced leadership

If a project scores well in at least three of the above criteria, it’s a winner.  When it scores well in all four, it has the potential to be a blockbuster.  That potential blockbuster is Solve.Care.

Background

Solve.Care has developed a revolutionary platform that will significantly improve care outcomes by reducing healthcare administrative costs.  The platform will also go a long way toward eliminating a lot of the problems commonly seen within healthcare administration such as duplication, waste, abuse, and fraud.  I firmly expect Solve.Care to generate cost savings by facilitating peer-to-peer transactions that grant authority to stakeholders while empowering payers regarding cost control and oversight.

SOLVE token completed its token sale last year in May.  The company sold 350,000,000 tokens and still has 650,000,000 in its treasury.  The great news is that the token has been recently listed on both Bittrex and KuCoin, two of the largest and most trustworthy exchanges in the world.  Given the recent incidents, especially the Cryptopia hack, being on a trustworthy exchange is of paramount…

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