Price Analysis

Electroneum Price Analysis: ETN Price Downtrend Seems To Prevail

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We all are aware of a massive marketing trip to South Africa by ETN team. They have been selling the ETN M1 smartphone device which is best compatible for mobile mining. The device was launched at a budget friendly price of $59, attracting more and more users towards ETN mining. They are running out of stock already, but they have definitely increased the users using ETN as the mode of payment.

But is it really affecting the sad condition of ETN on the charts? Let’s analyze the same.

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Price analysis of Electroneum on 10th June 2019:

At 8:10 UTC, the value of ETN is trading at $0.004453. The value today seems to continue to drop in every minute. The remaining essentials are as follows:

Return on Investment -95.28%
Market Ranking 124
Circulating Supply 9,583,241,600 ETN
Total Supply 9,583,241,600 ETN
Market Cap $42,674,622 USD
24 Hour Volume $678,479 USD

Electroneum Price Comparison:

Electroneum

Considering the value trading today, the market has a lot of fluctuation! Intra-day or short term investors might be scratching their heads just to see the trades today. 9th June gave the lowest of the value trading at 0.0000005756 against BTC. 10th June began with 0.0000006274 on midnight and dropped to 0.0000005922 after 5 hours. And then, a further drop was seen at 6:33 UTC time, when the value against BTC was trading at 0.0000005699. Till now, the value of ETN against BTC has dropped by 8% since 00:00 UTC time.

This is a real concern for the short-term investors as they are losing their profits in just a span of few minutes.

Electroneum Price Predictions and Conclusion:

It seems that the price might further drop. It seems like a bearish market today, and the best bid is to buy the coin or just out of focus at all! If you do not wish to take a chance, it is better to keep your fingers away from ETN. You will be burning a lot, it seems!

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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