Electroneum (ETN) Price Plunges to a new low: Undeterred by the Major South African Partnership down to 150 Satoshi

Most of the cryptocurrency markets have regained their sanguine state, but there seem to be some exceptions as always. It might be surprising to note that even at this stage, the Electroneum price is bearish. Regardless of the expectations of most people, the losses have continued to pile up in both BTC and USD.

At the time when most markets were down, ETN often offered some respite in the tough times. Though, in recent months the Electroneum market has seen an interesting shift of momentum. With its impetus running thin nowadays, the reason behind it remains unclear. While all the top cryptocurrency markets have been enjoying the bullish times, it is all the more strange to see Electroneum turn Uber bearish all of a sudden.

The Electroneum price has dropped nearly 6% value in USD, bringing the price down to $0.005832, over the past 24 hours. An even bigger point of concern is the 8.82% loss over Bitcoin. Due to this particular drop, the ETN has been forced down to 150 Satoshi, a value which was not expected for quite some time to come by the traders. Nevertheless, for some unknown reason, ETN has been doing the opposite of all other markets.

There is a partnership involving ETN and The Unlimited Mobile Provider of South Africa which is another major Electroneum related development. This can probably help put a positive spin on the whole situation. This integration has benefited the users in earning double airtime and double data when the balance is recharged with Electroneum. Even though this doesn’t positively affect the price, it is significant progress for the mobile-oriented cryptocurrency.

The Electroneum situation has given rise to an intense debate among the ETN social media community. As a Twitter user, “CryptoLady” wonders which community is stronger among Electroneum, Digibyte, and XRP, Twitter polls which never usually amount to anything, see Digibyte as the winner with most votes.

Another user “CryptoSuaveA” is conflicted on whether Electroneum will make a big impact in the price department. This currency which saw a few upward bursts during the crypto winter that lasted almost two years is facing a current minor setback and might turn up just fine in the long run.

Even at this time when the wave of bearish pressure has hit the currency rather unexpectedly, it doesn’t seem like there’s much to be concerned about. After all considerations, it looks like Electroneum will return to its normal levels sooner or later with the ongoing mobile expansion still in play. A prime example has been created with a compelling partnership in South Africa.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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