Connect with us


Electroneum (ETN) price slump stagnant following KYC implementation




Electroneum (ETN) which is also known as a mobile virtual currency, has managed to engrave its name into the history books as the first cryptocurrency in the world to incorporate KYC or Know Your Customer procedures. By doing this, Electroneum secures a position to be recognized means of virtual payments.

Through their Twitter handle, the Electroneum management broke the news to the public in jubilation earlier this month.

Sharing his insights on the cryptocurrency’s KYC achievements, the blockchain project CEO and leader, Richard Ells, had the following to say to the media and the general public:

“Today marks the third time our virtual currency and blockchain technology has broken new territory in the cryptocurrency space. We were the first mobile cryptocurrency in the world, we created the first cryptocurrency instant settlement API in the world, and today we are being feted as the first cryptocurrency to be compliant with the existing KYC requirements.”

This comes as great news for the upcoming virtual currency, but unfortunately, many investors and traders do not understand what this means for the blockchain technology.

What this means is all users of Electroneum will have to be KYC-compliant by 12th November 2018, according to news sources from the company’s management. At the moment, voluntary KYC registration is ongoing, and users are being encouraged to register themselves.

Richard added,

“Now that we are KYC approved, this will now allow us to advance from being a virtual currency into a virtual settlement provider like Apple Pay or PayPal, enabling us to support our core demographic: smartphone users in emerging and developing countries”

In the past few years, the cryptocurrency ecosystem has been faced with calls for regulations through KYC or Know Your Customer compliance. The world of FinTech is not being spared as these emotions are cutting across the board following the continuous adoption of virtual currencies by individuals and entities.

For a cryptocurrency that is compliant with the KYC requirements means it is a legitimate mode of payments that can be used to transact as identities are going to be linked with the balances. This will change the never-ending notion that virtual currencies advocate and are instruments for illegal activities and transfer of monies across the globe.

Is the KYC Compliance Move a Positive one for Electroneum?

Electroneum’s decision to lean towards KYC regulations open up the door for constant discussion on whether it was the right move or not. Regardless of the talks, one thing is for sure, by being KYC compliant, Electroneum has now opened the door for willing traders and users who initially were skeptic towards cryptocurrency, to be able to trade and invest without fear.

It is the primary goal of the partnership between Electroneum and Yoti digital ID, to boost the adoption rates of ETN as well as its legitimate use.

Although the progress cryptocurrencies such as Electroneum are making, the cryptocurrency world is far from free from illegitimate use as some users are still taking advantage of cryptocurrency’s anonymous nature to commit cybercrimes and corrupt dealings.

Electroneum Unending Price Slump

At the time of writing, the price of Electroneum (ETN) stands at $0.0162 with a total circulation supply of about 8 billion ETN coins. Over the 24-hours, Electroneum prices have depreciated significantly in value (down by more than 6%) even as the market shows signs of rebounding on the hourly chart.

Although the market is still recording a 2 percent net loss in both US dollar and Bitcoin, Electroneum uneasy projection remains top position signaling tough times ahead for the mobile cryptocurrency. On social media, opinions seem to be divided as a section of avid crypto enthusiasts predict gloom and doom for the crypto as another section show their support of the coin and expect it to appreciate anytime from now.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

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. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pixabay


XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange



Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited ( ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub ( ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

Continue Reading


Should Crypto Projects Devote Resources to Community Growth and Marketing?



2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

Continue Reading


XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata



Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub ( will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

Continue Reading

Press Release