Electroneum Price Prediction 2020-2025 - Should You Buy It?

May 05, 2020 0
Electroneum Price Prediction 2020-2025 - Should You Buy It?

Knowing the future value of this or that cryptocurrency asset is critically important for those who do their money through trading or investing in cryptocurrencies and depend on the moves of the prices.

Many people believe that the future prices of cryptocurrencies can't be predicted. Nevertheless, we know that in fact there is a logic behind the fluctuations in the prices. Considering the fact that we can see this logic retrospectively, there is clearly a chance to make forecasts of future prices. Today we will do our best to predict how much Electroneum Coin will cost by the end of 2020, 2023, and 2025 years.

  1. What Is Electroneum?
  2. A Brief History
  3. Past Performace
  4. Price Prediction

What Is Electroneum?

Electroneum Coin (ETN) is significantly different than most of the other cryptocurrencies. The selling point of this money is its focus on mobile devices and fast micropayments. It was designed as light as it's possible to make it easy to mine this coin via smartphones. Once mined the coin can be easily sent to the other Electroneum wallet holder or to the application or a game.

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The goal of the developers was to create digital money that is easy to mine, send, and store. They wanted ETN to become a cryptocurrency widely used for making day-to-day purchases all over the world, especially targeting developing countries. The idea is to provide smartphone-based pocket cryptocurrency banks to the communities that haven't had any possibility to use banks, hence PayPal and credit/debit cards. Electroneum ecosystem and the ability to mine new coins with a smartphone are supposed to give these people more financial freedom and opportunities.

Another way Electroneum is benefiting the communities of the developing world is through the connection with Non-Governmental Organizations (NGOs). They run the Electroneum network and get ETN coins as block rewards. Later, this money can be used to help the communities in many ways depending on the NGO's specifications. More than that, Electroneum proudly claims that its network is one of the greenest in the industry despite the need to mine new coins. According to the company's website, the entire network consumes an amount of energy equivalent to several light bulbs. Of course, it's much better than the pollution caused by Bitcoin mining which became a widely discussed problem a long time ago.

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In order to ensure the reliability of the company, Electroneum has partnered with mobile providers. No cryptocurrency company has ever had collaborations with mobile providers before. Moreover, the platform complies with the AML rules and cryptocurrency-related regulations relevant for the United Kingdom. 

Another important detail about Electroneum is that the developers created their own purpose-built blockchain for the coin. This blockchain is created using the source code of Bitcoin. The blockchain is moderated in order to prevent any possibility of a 51% attack. The maximum token supply is set to 21 billion ETN. Unlike BTC, Electroneum Coin can be used as the full units while bitcoins have to be split. Even relatively large amounts of BTC are still less than 1 BTC. The extended supply of ETN is meant to make the exchange of coins more comfortable. Without the need of dealing with decimals.

All these features, the goals, and kind of philosophy behind the project show that Electroneum is an ambitious project that has a mission and a real vision of how to achieve goals. As a result, it makes the Electroneum community supportive.

A Brief History

The leader of the Electroneum team is Richard Ellis. He is a veteran in the questions of working with mass products that involve the Internet and smartphones. In 2013 Ellis became a CEO of Retortal, the social media marketing company with respectable clients and dozens of millions of dollars in volume.

In 2015 Ellis and his partners began to work on a new cryptocurrency and blockchain. Electroneum headquarters can be found in the UK. In July 2017 Electroneum Ltd was registered. The Electroneum ICO was held in September — October 2017. The company has raised around $40 million. That was definitely a successful campaign compared to many other ICOs. The number of participants holds the industry record — over 115,000 investors have bought the coins. Soon, ETN coins have become available on many huge cryptocurrency exchanges, including Huobi, KuCoin, Cryptopia, etc. At the time of writing this article (April 13, 2020) it is reported that over 2.3 million people have downloaded the Electroneum application.

The current ETN price is $0.001989 which is much lower than the price it had during the ICO ($0.01 per 1 ETN). The circulating supply is 10,062,820,323 ETN meaning that almost half of the total supply has already been mined. 24h trading volume surpasses the market cap almost 4 times (the market cap is around $20 thousand while trading volume is over $76 thousand). In general, it's not a common situation when the 24h trading volume is bigger than the market cap. The coin is ranked 129 by market capitalization.

 Past Performance

Electroneum Coin has hit the market right amidst the international cryptocurrency craze — in November of 2017. During the first month, it was traded below $0.1, at times around $0.04 but in early December things have started to change. The rise of the price coincided with listing on HitBTC. In December — January the price kept the position above $0.1 most of the time. 

By the end of January 2018, the price had dropped. The fact that it didn't drop earlier together with many other cryptocurrencies in that period is quite unusual. It happened at the same time when China has banned cryptocurrencies so the entire industry has experienced stress. In March 2018 KuCoin, Bitbns, and CoinSpot listed Electromeum bringing the opportunity to buy ETN with fiat money. However, it didn't reflect on the asset's price anyhow. The price continued to fall down. It has kept on falling the entire spring and June. There was a short resurgence in July when the price has climbed up above $0.01 per coin for several days just to drop down on August 5 again. This time the coin started to lose its value quickly.

By mid-September of 2018, the ETN coin has been trading at around $0.005. Together with Bitcoin the price of Electroneum Coin increased on September 22 and reached $0.02 at some point in October. Probably it was partly triggered by the news of the upcoming adding of the ETN-Fiat trading pair on Sistemkoin. When Electroneum got listed on Sistemkoin exchange (October 30) the price has already begun to meltdown. In November the BTC market began to shrink drastically, and this trend has affected the entire cryptocurrency industry. The Liquid exchange has added ETN to its list but it didn't have an effect on the Electroneum Coin's price. Unfortunately for most altcoins, their prices are quite dependent on the price fluctuations of Bitcoin.ETN is not an exclusion. It's not surprising that the Electroneum price has dropped reaching around $0.005 by January 17, 2019.

In March 2019 Electroneum Coin was listed on one of the biggest cryptocurrency exchanges — Huobi Global. The state of the market was quite poor those days but this event made the price rise from $0.005 per coin to $0.006 for some time. By the end of the spring, ETN was trading for roughly $0.005 again. In August, the price lowered even stronger breaking the $0.004 support level. But that was not the bottom. In September the price reached as little as $0.0034 per 1 ETN. It struggled to reach $0.004 until the end of the fall. Only by late January 2020, Electroneum Coin's price had reached the $0.004 support level but it wasn't for a long time. In March 2020, the entire cryptocurrency market experienced one of the biggest shocks. Numerous investors were selling all their coins in a hurry to get some cash to pay the brokers at the melting stock markets. Of course, Electroneum wasn't an exclusion when all other crypto assets were losing their value. At certain moments of the second half of March, the ETN price was slightly above $0.001 and even the strong resurgence of Bitcoin didn't bring serious relief to ETN. These days its price is coursing around $0.002.

It's fair to say that all this time great achievements of Electroneum in terms of technologies, publicity, listing on respectable exchanges, and so on weren't helping the price to skyrocket or even to stop from dropping. Additionally, we must realize that ETN has entered the crypto market at the market's historically highest point. As the crypto market has a tendency to follow Bitcoin in terms of price trends, ETN had to lose its initially high price together with the rest of the market almost since the very beginning. We can't blame the Electroneum team or architecture for this. As mentioned before, surprisingly the ETN's price was struggling longer than many other assets in early 2018. The project has quite a strong support on the social media crypto communities. It seems that Electroneum has its chance in the future. Let's try to figure out how much ETN can cost by the end of this year, in 2023 and 2025.

Price Prediction

2020

Some predictions made in the past were quite optimistic. Some stated that the coin will reach $0.05 by the end of 2020. The people making such forecasts were not aware of coronacrisis although they could pay attention to numerous concerns about the financial crisis that should have started in the early 20s (and it really did happen, as we all know). The crisis is not too bad for Bitcoin which is the most preferred cryptocurrency in the world but altcoins are not favored by the investors that much. It's not clear enough if coins as Electroneum will benefit from the crisis. Seemingly these days people feel more comfortable with fiat money that allows them to buy the commodities vital for quarantine. As ETN wasn't performing amazingly lately, we cannot anticipate that its price will dramatically rise by the end of 2020. In our opinion, it will be around $0.001.

2023

The post-pandemic years can boost the cryptocurrency economy. The Bitcoin price has already proved to be more stable than some of the strong national currencies so investors turned to BTC this spring while the fiat currencies were not so brilliant. If the ETN team will be lucky and skillful enough and manage to maintain the asset's presence in the informational zone, many people who suffered from the COVID-19 financial aftermath may like this simple-in-use asset suitable for small and fast transactions. We believe that the Electroneum team is professional enough to get the ETN price to the $0.005 level again by 2023.

2025

It's not easy to figure out which trend will be actual for Electroneum and the entire world financial practice in general in 2025. It's understood that the countries of the first world will improve their economies after coronavirus while many developing countries will be affected much worse and the crisis will probably still have its effects in 2025 in the countries that were targeted by Electroneum from the very beginning. The Electroneum price can seriously grow in such an environment because its ecosystem can remain friendlier to the people than banks and other official monetary institutions. Our bullish prediction is that 1 ETN will cost $1. If there are some circumstances that will help fiat money against cryptocurrency dominance in the developing economies, the price may simply double since 2023 and reach around $0.01. That's the worst scenario.



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