Electroneum’s ETN coin is currently priced at less than a cent. That’s right, $0.09859 at the press time. And we couldn’t care less. No, really! You should like this project. When the token’s price goes up we like the news, but when it goes down we’re really not bothered at all. Why? Because price does not equate value.
If you read a lot of crypto news, then you’ve come across the term “technical analysis” which is a set of statistical tools that focus on an asset’s price to calculate predictions about future price behavior at different time horizons. That is all about price. But even the greedy financial world understands that value is a different thing.
There is yet another branch of market forecasting called “fundamental analysis” in which price is irrelevant, and you go for value. In this context, the job is to find valuable things that are underpriced, buy them, and let the market correct itself. This is one of the ways in which Warren Buffet became one of the richest men in the world.
A famous example of this dichotomy was the situation in which Apple found itself a couple of decades ago. It was about to go down, and its stock price was plummeting. Apple was pretty close to disappear. This was caused by prices. But somebody realized that Apple had value, whatever the price was. It was Bill Gates.
Microsoft was the biggest software producer for Apple computers, and Mr. Gates realized he just couldn’t afford to let all that business go. For him, Apple had a value equivalent to, very roughly, half of Microsoft business. So what did he do? He bought a lot of Apple stock, which was a very publicized move that gave the market back the confidence it had lost on Apple’s value. Apple survived, and Bill Gates got even richer.
Electroneum is not Apple, of course. It’s a fledgling project that is not in danger of disappearing, but the situation is analogic in that ETN is seriously underpriced because the market has not understood yet how valuable it is. If you don’t know what Electroneum is or why it’s worth something, keep reading, we’ll tell you.
Electroneum came to life as a Monero fork but with a very heavy emphasis on mobility and micropayments. It aims to use its token, applications and platforms to provide financial services for everybody in the world who has a mobile phone. This has important implications.
A lot of people all over the planet own a mobile phone but have no bank account. So they have no access to the most basic financial services. The whole point in Electroneum (and in the fintech industry as a whole as well) is to serve the unbanked. It’s a huge portion of the world’s population
ETN, like any other crypto coin, can also serve as protection against a financial crisis (local or global). If your national fiat currency is under attack for whatever reason you could just put your savings in Electroneum (or XRP, or BTC, etc) and avoid the pain of seeing it lose value because of inflationary pressure.
Then there’s the mobile mining feature. This token is not mined in computers or specialized hardware, but in cell phones. All you have to do is to install an app, and that’s it. Your phone will mine for you a small amount of ETN tokens every day. This is just revolutionary. Your own simple smartphone will get you every day a free sample of money. And this is also great marketing because the ease of use and the free tokens will capture the interest of a lot of people that would otherwise pay no attention to crypto.
Another of the project’s features is the payment system. It’s quick, it’s safe, it’s almost free to use. So instead of using a remittance system such as Western Union, soon you could be using your Electroneum app to send money overseas.
Last but not least. All the aforementioned features will lead to mass adoption sooner or later. ETN will become very useful and that’s when the price will go up, as it will be driven by real economic forces instead of speculation.
So don’t disregard Electroneum just because it’s cheap. Do you remember Bitcoin’s initial price? It was $0.008. Install the app, mine a few tokens, get some free money. And, for now, don’t worry about the price.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and 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.
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…
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 (https://xno.live) 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…
My Crypto Heroes Announces Issuance of MCH Governance Token
Tokyo, Japan, 24th November, 2020, // ChainWire //
My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH.
My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.
What is MCH Coin?
MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.
Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.
The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:
During December 2020 the first governance…