Connect with us

Blogs

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

Published

on

ETN Electroneum
READ LATER - DOWNLOAD THIS POST AS PDF

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

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

Continue Reading

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Elite