Price Analysis

Is Electroneum (ETN) Worth For Investment?

eToro

ETN or Electroneum is a cryptocurrency that was introduced via an Initial Coin Offering on 14th September 2017. It was launched specifically to be used in online gambling markets and mobile gaming. Its developers think that it can be the most user-friendly digital currency in the world with coin mining and wallet management opportunities. It is the first ever cryptocurrency to be developed by the British. It is extremely mobile friendly, and its number of users is expanding ever since its inception in the cryptocurrency market.

Present status of ETN

ETN is currently getting traded at USD 0.006210 (UTC time 07:36). It is holding the 71st position in the cryptocurrency arena. Its present market cap has a value worth of USD 56,115,848. At present 9,037,092,688 ETN are available to trade in the cryptocurrency exchanges. Compared to yesterday’s price, the value of ETN has been decreased by -2.33%. Based on its current price range, the value of ETN is following a bearish trend line.

eToro Crypto
Price analysis of ETN on the basis of Electroneum charts

ETN

The above chart shows that the current price of ETN is 0.006200 USD or 0.00000166 BTC (UTC time 07:43). Its present market cap has a trading value worth of 56,032,031 USD with 189,342 USD as its 24h volume. The same chart shows that the value of ETN, one month back was 0.007101 USD. Comparing these two price points, we can say that within this one month, the value of ETN has been decreased by -12.68%. So, the price range of ETN is on a bearish trend for one month.

Future price predictions of ETN

According to the prediction of Wall Investor, ETN is a bad long term investment. By the end of 2019, it is predicted that the value of ETN can be around $0.74. It is expected that by 2020, ETN prices will be stable to some extent and it can be approx. $2.44 in 2023. The predictors assume that one’s $200 investment on ETN in 2020 can be worth of approx. $23,000 in 2023. Other than these, Electroneum has a competent team, a huge community of supporters and thus, it is expected that its number of users will grow considerably in the future.

Final comment

ETN is definitely not a good option to invest in as of now. As crypto analysts are expecting stability in ETN prices in 2020, the keen investors must wait for some time to see if the assumptions turn into reality and thus, make effective decisions accordingly.

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.

Related Articles

Back to top button