Have you heard of Electroneum (ETN)? This cryptocurrency is the 43rd most valuable coin on the market, globally. That may be why it’s not quite a household name yet – it is far below other hot altcoins when it comes to market cap rankings. The Electroneum coin has added more than 18% to its price today. Perhaps that’s because it just got announced that ETN will soon be added to HitBTC:
— electroneum (@electroneum) January 19, 2018
Exchanges are clearly eager to list this coin. So, what is this ETN currency all about? Why is it so special?
What is Electroneum (ETN)?
Now, this cryptocurrency may not have a sexy, futuristic concept to lean on like IOTA (MIOTA) does. It’s a tad bit more boring, but the technology behind it is useful and currently up-and-running.
The Electroneum coin is the official token of a mobile-based platform. It’s a smartphone application, essentially. If you trade cryptocurrencies, you probably already know how frustratingly disjointed all the different types of wallets there are. We have hardware wallets, desktop wallets, online wallets – and not all of them support multiple coins.
That’s where the Electroneum app comes into the picture. This platform aims to be a solution to all these problems:
— electroneum (@electroneum) January 13, 2018
The app allows for the holding and swapping of multiple crypto coins. It already supports a number of popular altcoins.
How has the Electroneum Coin been Performing?
Well, this coin only began trading at the very beginning of November. So, it’s pretty impressive that this currency has ridden the ranks all the way to number 43. And, at just $0.153 per ETN coin, this is a discount, sub-$1 currency that’s more accessible to regular, non-high-volume traders.
Over the past month, ETN has gained 57%. It’s trading at about 15 cents nowadays, but prior to December it was below 4 cents. The price increase in such a short time is pretty remarkable.
According to CoinCheckup.com, the Electroneum coin has been delivering an average daily ROI of 2.34%. Its average monthly ROI has been just 7.24%. That’s a bit low for an altcoin on the top 50 highest value list.
So what do you think, does this coin have enough promising technology to carry its price any higher?
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.