Electroneum Price Prediction 2020 : Blockchain technology is the greatest development in digital financial industries and if you’ve invested in Electroneum and worried about the Electroneum Price forecast then here we go. Apart from Bitcoin there are 2000+ cryptocurrencies traded and Electroneum is one of the top 100 cryptocurrencies and so the forecast for the prices of electroneum is certainly worth understanding. Cryptocurrency is one of the most unpredictable and cost-effective markets with major corrections every hour, so the real value can not be predicted ideally. Nonetheless, we can draw insights from technical studies, expert feedback, and consumer feelings in order to assess the potential Electroneum (ETN) price forecast. We have already discussed Cardano Price Prediction in Earlier Section.
Electroneum(ETN) is the first mobile mining crisis to bring revolution in 2017 in blockchain mining, so let us first know what electroneum is?
We will then discuss how it works, what its previous price history was and what Electroneum expert says.
What is the Electroneum and why do we need for price prediction?
So far, we have heard several cryptocurrencies like Bitcoin, Ethereum, etc based on Blockchain Technology, but none of them allow an ordinary user to use mobile phones to mine those currencies. The prime requirements are that you have at least CPU, GPU or ASIC to mine validate other cryptocurrencies.
When you rely on a few groups of random people to verify transactions then the rate of the transaction will slow down and you will have to pay higher transaction fees and even postpone the transaction to the end.
Back in 2017, Electroneum launched a blockchain-based mobile mining cryptocurrency named Electroenem to fix these technical issues. It was introduced in ICO in September 2017 and gained worldwide praise from numerous blockchain experts and raised nearly $40 million dollars. The smallest unit operating on the Electroneum blockchain network is known as ETN, which is why people refer to Electroneum coin as ETN coin.
The other target behind Electroneum is to reach about 1.7 billion people around the world who have no access to the bank account or unbanked people around the world.
And we plan to bring this as a global digital payment system that can be easy to mine and easy to switch from one wallet to others with low cost and using smartphones.
Process of Electroneum Working
Electroneum has developed a mobile mining app where you can not only mine the ETN coins but also send or receive the ETN coins using the phone. It’s available for Android and iOS mobile phones as well as a quick installation process. Be sure to set your own password to log in to the wallet when you access it. It has three main options on the screen.
Electroneum App Wallet
Click on the wallet to show the usable ETN balance and send or receive ETN from the same window.
If you’re free to mine ETN coin, go to Miner and just click to start and your mobile phone will start mining even at night while you’re sleeping.
Electroneum Coin Value
If you’re willing to check the latest ETN coin price in any local currency then it’s easier to go in value and check the local currency exchange rate in different countries.
This will, therefore, be done on every smartphone in the context of mobile mining, which increases the number of validator nodes around the world and increases the rate of transactions.
Reasons for Trading Electroneum
Okay, no one can promise any cryptocurrency’s bright future, but we can bring together a few points in terms of technology.
- Compared to Bitcoin with a total supply of 21 million here, Electroneum has 21 trillion ETN.
- It’s like a Monero privacy coin where nobody can locate the sender or receiver of the coins
- The transfer rate is lower than that of other big cryptocurrencies relative to other Bitcoin, Ethereum.
- Similar to other cryptocurrencies, due to very small transaction fees, it is the best fit for micropayments.
Until addressing its price forecast, all the above points are good enough to understand the Electroneum.
Price history of Eletroneum till 2019
When Electronneum began, I was one of the people who invested around $100 worth of ETN in ICO.
The moment I bought this coin in ICO the price was about 0.01$/ETN and later this coin was first listed on Cryptopia’s cryptocurrency exchange.
Upon their official launch in an hour, their price shoot was over0.18$/ETN and later traded about0.12$/ETN on the same day
Then after a large buy-sell order and the site was a bit down due to security issues shortly after a few days of release.
Later on, the highest price recorded around0.18$/ETN in the month of January after that, we all witnessed a dramatic drop in cryptocurrency prices even though BTC dropped from 20 K to 3K.
ETN price has steadily fallen below its ICO value in the same pattern and is currently trading about 0.003$/ETN.
The current market cap is around $36 million and the current circulation demand is around $9.7 billion.
Now we all know the Electroneum price movement history, it’s time to highlight the prediction of the Electroneum price.
Price Prediction For Electroneum In Coming Future
The prediction of electroneum prices is based on technical analysis and expert views, where we will consolidate various sources through which we can get an idea of the price projection. Let’s understand Electroneum’s technical analysis and expert views.
Based Upon Technical Analysis
Technical analysis is a way to understand the stock action history by reading the past order graph of buy-selling. The specialist focuses on different parameters of price movements and recommends the future possible pattern in the same cryptocurrencies based on those levels.
If you’re the biggest cryptocurrency owner then you’re likely to be a little frustrated because the the1-year outlook for wallet shareholders is 0.000659 USD from the present 0.00372 USD.
In fact, it looks bearish and indeed, ETN’s market cap is very low, which can easily be manipulated, so the above price action is based on the current price history. By the end of 2019, 0.0005 $at Dec 2020 and 0.0004 $by the end of December 2024, if long-term forecasting its value will hang around 0.0007$.
Based on Digital Coin, their technical analysis of the expected short-term price prediction of Electroneum until Dec 2019 is $0.005 USD, but by 2020 it is supposed to be $0.006 USD.
When they apply to their long-term market projection for ETN by 2023, they expect prices up to $0.011 USD, their initial cost should be $0.01 USD by 2026.
Based on their study estimating the value of ETN by the end of 2019 could be around $0.004065 USD, and by the end of 2020, we foresee $0.067 USD.
If you’re looking for the long-term forecast of 2022 electroneum rates, it could be around $0.08 USD, but by 2024 they’re targeting for $0.22 USD.
From the three analyzes above, you find the different people’s reasoning for Electroneum’s value prediction. Now let’s reflect on what an Electroneum expert is telling.
ETN Price Prediction Expert View
If we can go through the sectors and try to get an idea of what people and experts think about ETN in the future can give you more faith in what ETN can do.
Well, note, the technical analysis never forecasts the future adoption of just reading the history of price movement, but the future adoption could actually break all the boundaries.
So let’s go through the expert views or news and try to understand what ETN offers, and this will really affect the price.
A post recently published by Coinbeat where they appreciated Electroneum’s contribution to Brazil, Latin America’s largest country. Electroneum team plans to launch a virtual blockchain-based coin backed by supplies of coffee that will be called the Coffeecoin.
Every user who uses a smartphone to mining ETN coin also assures them that they earn up to $3 worth of ETN per month in mining. If this continues with wide adoption than the current 3.1 million ETN population in Brazil, it will move straight to 55 million unbanked citizens.
According to them, in South Africa, about 11 million people are unbanked, but the nation is at the top of cryptocurrencies and virtual cryptocurrency holdings.
The only cryptocurrency that has begun widespread adoption in South Africa is ETN because many retailers have started to embrace ETN for mobile airtime and data transactions.
Most taxis already receive payments in Electroneum, which means that consumer trust has begun with ETN and that if everything works the same, it can really shoot price in the future.
Referring to the news reported on Coindesk, Electroneum released an $80 cloud mining android smartphone that could only initially mine ETN.
It’s a smartphone certified by Google Mobile service that comes with inbuild cloud mining services, making sure to mine ETN coin worth about $3 a month.
Users can use the won ETN coin to upgrade their mobile airtime or information and once the configuration has been completed, the phone can even mine offline. This increases the wide adoption in South African countries of blockchain technology and cryptocurrencies.
Electroneum Team-based price prediction
Any platform’s growth depends entirely on the strong team behind the company, and Electroneum started back in 2017 and raised around $40 million in ICO itself.
Thanks to the mind behind ETN, Mr. Richard Ells, the electroneum group from the very first day excited about changing the world of cryptocurrencies.
He is the founder of Electroneum and owner of SiteWizard and Retortal, the two most popular online companies.
The group is very focused and started in 2017 from a very few crypto projects that got this level of recognition and acceptance in the field where they are also being projected.
This is also focused on providing the banking institutions with financial services, but luckily it is not projected to the small retailers or the unbanked people.
But the future is unknown that they can introduce a new platform that can target small retailers, make sure they learn from our comprehensive guide what Ripple(XRP) is and how it works
As I said, the technological future is not certain that the mind behind XLM is the same person that began Ripple (XRP).
The XLM’s target is similar to Electroneum, concentrating on both small retailers and unbanked individuals.
Steller also targeted at banking and financial institutions to learn more about what Stellar (XLM) is and how it operates, giving you a good idea.
My View On Electroneum Price Prediction
Electroneum is more focused on reaching unbanked mobile users in countries such as Brazil and South Africa where it began its expansion.
They offered a very affordable solution with a single tap on the phone to invest the currencies in the exchange of goods.
We also launched mining smartphones and the ability to update airtime or mobile data in countries such as Brazil and South Africa, which have already begun its wide adoption elsewhere.
The things that matter Electroneum’s price prediction from my point of view in the crypto industry are its broad acceptance and positive feelings among the people. When Electroneum is able to attract worldwide attention, due to the strong team behind it, it can smash its all-time limits in a few years.
So advice to go through the handles of their official media and get a better idea of what the team is doing and what their future plan is.
If you have a better idea or opinion about the forecast of Electroneum prices then share it with our reader by commenting below. I hope you like my article if you want to know Binance vs Bittrex then visit the article hope you will like that article and you can also visit what is nasdaq.