Electroneum, or ETN, is a cryptocurrency classified as an altcoin. Dubbed as the first British cryptocurrency, it aimed to reach 2.2 billion smartphone users around the world using its mobile-operated blockchain. Its ICO from September to end of October 2017 was the most successful in the cryptocurrency market.
Amid the controversies surrounding the cryptocurrency market, there are three important things you should know about ETN.
Successful ICO
Compared to other cryptocurrencies, Electroneum had the most successful ICO. It was the largest in terms of number with a token sale reaching a hard cap of $40 million. Not only was it one of the most successful, but it also reached 120,000 contributors in excess and it now has more than 300,000 officially registered users.
With a celebrated team of cryptocurrency management experts, Electroneum had great aims as both a coin and a company. Even now that its price has dipped to around $0.08, the company still aims to cater to 2.2 billion smartphone from different parts of the world.
Despite the temporary setback in October 2017 because of an alleged case of hacking, ETN bounced back with an amazing re-opening by November 2017 and has been in operation since. This indicates that the people behind ETN have been faithful to their initial promises to the people.
Consistent Gain
One of the best things about ETN is that although it has not considerably increased to $1.00, it has stabilized at $0.08. This is a guaranteed 800% gain for its users. In fact, this is already a good bargain of interest compared with when one merely bought equities or shares in the stock market.
The initial price during ETN’s first launch was a whopping $0.17, which was 1,700% of the original price. Moreover, ETN has had its blockchain, and this guarantees a fast flow of exchanges compared with those that share the Bitcoin blockchain.
Still Positive Outlook
Despite the sudden drop in the price of ETN, no one could say that it was all because of ETN itself. The fall at the beginning of 2018 was due to a general 50% decrease that all cryptocurrencies experienced.
A probable reason for this sudden drop was profit-taking due to a selloff. Another reason could be the uncertainty and volatility in the cryptocurrency market. No matter what the reason is, the most important thing is that it’s not all of what the company is experiencing now is ETN’s fault.
Although no predictions are definite as of the first quarter of 2018, Electroneum is still expected to rise by +967.86% by 2022, according to Wallet Investor. Others have predicted it to become $1.00 anytime soon.
Whatever the predictions are, this is probably because of ETN’s partnership with Quione and Fanfare. While Quione is a trading platform similar to Cryptopia, Fanfare is a video-sharing app.
Conclusion
Many rumors are surrounding ETN primarily because it had one of the most sold out ICOs. The problem is that with the cryptocurrency market, the volatility is almost a natural trend. However, with such a promising future outlook on ETN, you should cross your fingers that it will either stay at an 800% ROI as of the moment or even higher. Either way, it is a win-win situation for any ETN buyer.
