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Here’s How Electroneum (ETN) Gets To $5

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ETN Electroneum
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Electroneum (ETN) topped out at highs of $0.22 apiece on January 6, but has since dipped to current levels in around $0.11 a token. this 50% decline comes in sharp contrast to the amount of attention this token has been getting in the media and from the cryptocurrency community over the last couple of weeks and, seemingly, represents a divergence between price and sentiment.

These are exactly the sort of opportunities we look for from a short-term trading perspective and it suggests that we could see a closing of this divergence and, by proxy, a turn to the upside for ETN near term.

ETN Daily Chart

ETN Daily Chart

Beyond that, however, we also think that there is some real long-term potential here and that there is a clear path to five dollars a token if the company behind ETN can execute on its growth strategy throughout 2018.

Here’s how ETN gets to $5.

For those new to Electroneum, this one is often billed as the first British cryptocurrency, and it was set up with a relatively simple mission statement – to remove the barriers to entry for those looking to acquire and utilize cryptographic tokens.

Right now, cryptocoins are tough to get a hold of. The barriers to entry for most people are too large, with complex software, GPU mining rigs, the necessity to send personal identification data and credit card information to young and questionably reputable websites, all making things complex for the new user.

Electroneum intends to overcome this with its ETN coin.

The company has created a mobile device application that allows users to manage online funds by sending and receiving payments with by way of QR code scanning but also goes a step further, offering the user a cryptocurrency mining experience; and crucially, one that doesn’t necessitate the technical knowledge or specialist hardware that is required for Bitcoin or Ethereum mining.

The company conducted an ICO back in September, raising $40 million in a few weeks from more than 400,000 participants – one of the most successful ICOs to that point – and has since gone on to attract a large amount of community and sector-specific attention.

And it’s in this attention that we root our long-term bullish thesis for Electroneum.

The adoption of a coin like this is based on mainstream utility. It’s simple to use, it’s mobile-based and it requires very little technical know-how or costly hardware to get up and running. Transactions are instant and essentially free and, at the same time, the company’s offline wallet is incredibly secure.

Each of these points answers a question that’s being asked of even the most well-established coins on the market right now – this really is cryptocurrency for the masses.

And the best thing about Electroneum? The company knows its positioning.

Electroneum has the target of becoming the biggest cryptocurrency by user count in the world during 2018 and while this may seem like a lofty challenge, it’s far from an unrealistic one. There are 2.2 billion mobile device users globally. All of these have instant and easy access to the Electroneum platform. The company has already signed agreements with major telecoms providers and expects to announce more such agreements this quarter.

The key thing to recognize here is that this is perhaps the only cryptocurrency in the world with a direct access route to hundreds of millions of users (via their smartphones), all of which can acquire, mine and store ETN without any specialist knowledge or equipment. If the goal of cryptocurrencies is to make transactions simple, cheap and quick, ETN has hit that goal.

So what about near-term catalysts to get this one running?

Right now, ETN has a market cap of $674 million and is doing tens of millions of dollars in volume daily – on one exchange.

It’s set to launch on HitBTC over the coming couple of weeks, which should instantly increase liquidity and double (if not more) volume.

One to watch.

We will be updating our subscribers as soon as we know more. For the latest on ETN, sign up below!

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.


Image courtesy of Electroneum

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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