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

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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

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Can Libra help the crypto industry to reach new heights?

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Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
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The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

The development of…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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