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What is Electroneum (ETN)?

Electroneum basic info

Name:Electroneum
Ticker:
Introduction:

What Is Electroneum?

Electroneum is an instant payment system founded by Richard Ells in 2017. It specifically targets over a billion unbanked individuals who lack access to digital payment systems. Electroneum's mission is to enable users globally to pay for goods and services both in-store and online. The network adopts voluntary KYC measures and operates a moderated blockchain, safeguarding it against the common 51% attack risk in cryptocurrencies.

Electroneum also introduces the AnyTask platform, a digital task marketplace connecting buyers and sellers without requiring sellers to pay fees or have a bank account. This platform allows users to earn tokens by completing digital tasks for global buyers and receive compensation through blockchain technology using their smartphones. The Electroneum application facilitates token-based payments for various services in over 190 countries, including mobile data top-ups and utilities, positioning users as digital currency pioneers in their communities.

Resources

Whitepaper: https://electroneum.com/overview-white-paper.pdf

Official Website: https://electroneum.com/

How Does Electroneum Work?

Electroneum operates on a unique Proof of Responsibility (PoR) algorithm, derived from the Monero codebase, enabling decentralized blockchain transactions. It features built-in privacy measures, such as "stealth addresses" for one-time public key use, enhancing transaction privacy while allowing third-party auditing. The network's transaction speeds are notable, with dynamic fees based on network traffic.

The Electroneum blockchain, initially based on Monero, has evolved to support KYC compliance, making it suitable for operation in various regulatory environments. It offers two mining methods: a desktop mining client for various operating systems and a mobile miner that simulates the mining experience without overloading smartphone processors. This approach democratizes mining, allowing average users to participate without needing specialized hardware.

Electroneum's ecosystem includes the AnyTask platform, revolutionizing the freelance market by enabling unbanked individuals to earn cryptocurrency. This platform is unique in its fee structure, charging no fees to sellers and allowing payments in ETN. Electroneum's focus extends to the gaming and gambling industries, aiming to integrate its currency into these platforms for seamless value transfer and retention.

What Is ETN Token?

ETN is the native token of the Electroneum, designed to be accessible and user-friendly. It aims to facilitate instant payments, expanding the digital payment ecosystem and making it suitable for everyday transactions. The token caters to long-term holders interested in its future applications and cryptocurrency enthusiasts eager to engage with its innovative technology.

ETN's total supply is capped at 21 billion tokens. The token's utility extends beyond digital task payments, encompassing mobile airtime, data top-ups, and other essential services, thereby integrating cryptocurrency into everyday life.

What Determines Electroneum’s Price?

The price of Electroneum (ETN), like any cryptocurrency, is influenced by a complex interplay of factors, pivotal in the volatile and dynamic landscape of blockchain and digital currencies. One of the primary determinants is market demand and supply, a fundamental economic principle that also applies to the cryptocurrency market. Electroneum's unique value proposition, targeting the unbanked population with easy-to-use mobile solutions for digital payments and earnings, significantly impacts its demand. As more users adopt Electroneum for daily transactions and digital tasks, especially in regions with limited banking infrastructure, the demand for ETN rises, potentially driving up its price.

Another critical factor is the overall sentiment in the cryptocurrency market. Investor perception, driven by news, technological advancements, regulatory changes, and broader economic factors, can significantly affect ETN's price. Positive news about blockchain technology adoption, successful updates or partnerships in the Electroneum ecosystem, or favorable regulatory developments can boost investor confidence, leading to price increases. Conversely, negative news or regulatory challenges in key markets can lead to price dips. Additionally, Electroneum's performance and adoption in its targeted sectors, such as mobile gaming and online freelancing, play a crucial role. As Electroneum carves out its niche in these industries and demonstrates practical use cases, its value proposition strengthens, potentially influencing its market price.

Lastly, the overall trends and movements in the cryptocurrency market, often led by major players like Bitcoin and Ethereum, can impact Electroneum's price. The cryptocurrency market is known for its correlation effects, where the movement of leading cryptocurrencies can affect the entire market, including altcoins like ETN. Investors and traders often look at the broader market trends to gauge the potential trajectory of smaller cryptocurrencies. In summary, Electroneum's price is shaped by a blend of its unique market positioning, investor sentiment, market trends, and its success in leveraging blockchain technology for real-world applications in underbanked regions.

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Current price:
All-time high:$0.2362
All-time low:$0.001296

ETN supply and tokenomics

Circulating supply:17,979,818,000 ETN
Total supply:17,979,817,604.56 ETN
Max supply:21,000,000,000 ETN
Market cap:$58.10M
Fully diluted market cap:$67.86M

Links

Buy Electroneum for $1Buy ETN now

What is the development prospect and future value of ETN?

The market value of ETN currently stands at $58.10M, and its market ranking is #626. The value of ETN is not widely recognized by the market. When the bull market comes, the market value of ETN may have great growth potential.

As a new type of currency with innovative technology and unique use cases, ETN has broad market potential and significant room for development. The distinctiveness and appeal of ETN may attract the interest of specific groups, thereby driving up its market value.

What will the price of ETN be in 2025?
Based on ETN's historical price performance prediction model, the price of ETN is projected to reach $0.004878 in 2025.
What will the price of ETN be in 2030?
In 2030, the ETN price is expected to change by -9.00%. By the end of 2030, the ETN price is projected to reach $0.006027, with a cumulative ROI of +89.53%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of ETN and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is ETN worth investing or holding? How to buy ETN from a crypto exchange?

If you want to buy ETN, the following information may be helpful for your investment decisions:
In the last seven days, the price of ETN has risen by 3.23%, leading to positive returns for most ETN investors. The market is currently optimistic about the price trend of ETN.
It is important to note that the current price of ETN has retreated by -98.63% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether ETN is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in ETN or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of ETN, if you want to buy or sell ETN, you can consider Bitget for your trading needs. The best place to buy ETN is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in Electroneum has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Electroneum. Here's a step-by-step guide on how to buy Electroneum on Bitget.

How to get Electroneum through other methods?

Using cash to buy Electroneum is not the only way to obtain Electroneum. If you have the time to spare, you can get Electroneum for free.
Learn how to earn Electroneum for free through the Learn2Earn promotion.
Earn free Electroneum by inviting friends to join Bitget's Assist2Earn promotion.
Receive free Electroneum airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to Electroneum through Bitget Convert, Bitget Swap, or spot trading.

What is Electroneum used for and how to use Electroneum?

The use case of Electroneum may expand as the crypto market and the project itself develop. Currently, you can use ETN to achieve the following goals:
Arbitrage by trading ETN: Since ETN is a frequently traded cryptocurrency, the price of ETN is always fluctuating. Earn more ETN by buying low and selling high on the exchange. Bitget spot market provides a variety of ETN trading pairs to fully meet your needs.
Earn by staking ETN: You can also generate income through financial management methods such as staking ETN or lending ETN. Bitget Earn offers a variety of financial products designed to help you earn more income from your ETN.
Send or pay ETN: If you want to give ETN to your friends, a charity, or a fundraiser, or you want to pay someone with ETN, you can quickly and easily send ETN to the recipient through their payment address.
You can also go to the official website of the Electroneum project to learn more about the use cases of ETN. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

Electroneum Wiki

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ETN resources

Tags

Mineable
Medium of Exchange
Links
Electroneum WebsiteElectroneum WhitepaperElectroneum TwitterElectroneum Github

ETN price calculator

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1 ETN = 0.003252 USD
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