Electroneum (ETN) Price Analysis: Electroneum’s Medium Term Looks Bearish
Electroneum is based on Monero crypto coin. It facilitates its users to do transactions in a complete decentralized platform. It is a privacy-focused crypto coin with advanced features like stealth address and one-time public key. The stealth address gives the transaction user complete anonymity to all the stakeholders and the one- time public key helps to validate the transaction post verification. The transactions in this platform are done without any public linking.
With a negative 93.52 % of ROI, Electroneum is ranked 99th in the crypto market. The total circulation of the coin stands at 9,250,406,506 ETN. The current market cap as on 10th April, 05:19 UTC is 56,810,707 USD. The value of each coin in terms of USD and BTC are 0.006141 USD and 0.00000117 BTC. The 24 h volume at the same UTC stands at 370,396 USD.
Though 2019 started at a higher note for Electroneum, it started to swing to both sides as the days passed. The inconsistencies in the price are one of the highest in the whole crypto market. The market cap on 10th March was 53,041,286 USD. The value of each coin was 0.005847 USD and 0.00000148 BTC. The current market cap is 7.10 % more than the market cap of March 10, and the value of each coin in USD has inflated by 5.02 % in the last 30 days. The increase in the value of market cap and each coin in terms of USD is not consistent. It has been dwindling up and down. The inconsistency has finally started to affect the value of the coin.
As mentioned earlier, the inconsistency in the value has affected immensely to the coin. The attention of investors has decreased gradually, and the recent hike in the market condition even could not revive the growth. It has finally started affecting the future growth prospect of the currency. But, it has made an excellent base for making buy positions. As per the predictions by experts, the coin may reach as high as 0.01 USD by the end of 2019, and 2024 predictions are putting the coin at 0.1 USD giving multiple times profit margin. The short term outlook is bearish. Even the medium-term outlook will be considered as bearish unless any strong market interruption happens. But the long term market outlook is bullish.