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 in 2022 - 2030.
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.
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.
“Online purchases of food and construction materials will be made possible shortly from within the Electroneum app.” - Richard Ells, Electroneum CEO. https://t.co/oyARS1V6I1 #Altcoin #Blockchain
— electroneum (@electroneum) December 2, 2020
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.
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 to 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 the 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 the 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. In December of 2020 it was reported that over 2.7 million people have downloaded the Electroneum application.
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. On May 16, the price shortly spiked and surpassed the $0.01 mark. Quickly the price has declined twice.
For the rest of 2020, the price was fluctuating around the half a cent level. In 2021, together with the rest of the crypto market the ETN price started to grow rapidly. On February 14 the price peaked at $0.015. One month later, the price has climbed to $0.0199. Severtal days later, the price was already $0.039. Since then the price was going up and down. April, September, and November were the months when the price was reaching 2 cents or even more. In December of 2021, the ETN price declined reaching as little as $0.006 in January of 2022.
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 one of the market highest peaks. 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 from 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
Electroneum keeps on developing. Most probably this project won't have serious issues on the technical side. For years, the team was provining itself as a great technicians. We believe that in general, the project has all chances to sustain its relevance in the industry and keep on going with the flow of the crypto market. By the end of 2022, we expect the price to cross the 1 cent line and reach nearly 2 cents by the end of 2023 at best. In 2024, the ETN price will be around 2.5 cents at worst. We expect that the price has a huge chance to touch a higher mark as the BTC block reward will be split in two in 2024. Usually it ignites the market.
After 2024, the crypto market will probably see a correction so we are not expecting a serious growth in 2025. The coin will reach around 4 cents price. The experts say that the following growth will have approximately the same pace as in the first half of the 2020s. By the end of 2030, Electroneum is likely to reach around $0.25.