With some markets still showing signs of bullish momentum, it would appear Electroneum isn’t necessarily following suit. Not necessarily something to worry about, as long as the losses are kept to a minimum. For now, the Electroneum price is still in a good place, although its trading volume looks particularly bleak.
Lack of Electroneum Price Gains is Normal
It has been a pretty good week for most, if not all cryptocurrencies, tokens, and digital assets. Such upward momentum was more than needed, as the crypto market cap was seemingly on the verge of heading to $100bn and potentially lower. Luckily, it never got to that point, as all markets continue to look healthy at this time. Even Electroneum is doing just fine despite today’s minor losses.
In the past few hours, there has been a minor downtrend where ETN is concerned. A 0.7% loss in USD and BTC value pushes the Electroneum price down to $0.00724 or 198 Satoshi. Neither of these setbacks are worrisome at this time, although it remains difficult to reach and maintain the 200 Satoshi level. That in itself may prove somewhat troublesome down the line.
Social media is always abuzz with cryptocurrency-related discussions. Drshepard points out how Electroneum remains one of the fastest growing ecosystems in the entire industry. With an average daily growth of 4,100 users, that is quite significant. This is a lot better than most other projects or even companies in this space, which makes the trend only more remarkable to keep an eye on.
#Electroneum since 19th July 18, on average Electroneum's users base is GROWING 4100 users per day. The ecosystem keeps getting BIGGER. To put things into PERSPECTIVE…The same time last year: #Revolut said it was signing up between 6,000 and 9,000 new users each day… #ETN pic.twitter.com/z1C5Ak7FLv
— drshepard (@cryptorosscoe) February 10, 2019
It would also appear Electroneum is in the running to get listed on the DynX platform. It will be supported as a base pair, assuming it is victorious in terms of the competition. Other participants include SnowGem, Litecoin Cash, ReddCoin, and Nuls. Not necessarily the currencies most people would like to see as a base trading pair, other than perhaps ETN or RDD.
Who will win?
— DynX Exchange (DEX) (@DynXofficial) February 10, 2019
Although ETN is currently still pretty popular, it is not an altcoin supported by the bigger exchanges. A listing on Binance might not necessarily happen soon, yet it appears Bittrex doesn’t provide this trading market either. C. Alan Mack would like to see that aspect change in the near future. A valiant effort, although these decisions will hardly ever be enforced by the community.
— C. Alan Mack (@MackCurt) February 10, 2019
The main problem for ETN is how it generates under $100,000 worth of trading volume, Sundays are not known for their big volumes, but if Litecoin can quintuple is average volume, one would expect ETN to show some better numbers as well. For now, that is not happening as of yet, which can effectively hinder future price growth.
This article appeared first on NullTX.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.