Electroneum (ETN) has been doing crazy things in the market for the last two weeks. In this period it has shot up by over 300%, outperforming the rest of the market by a huge margin. After easing up for a few days, Electroneum (ETN) seems to have regained this upside momentum. Today, it is up by over 17% at a time when overall market volumes are low, and the rest of the market is in the red.
Today’s price action only points to one thing, and that’s the fact that investors are starting to take Electroneum seriously. At first, it could have been misconstrued to be a pump and dump scheme, but this sustained momentum indicates that there is actual demand. People are actually buying Electroneum on the strength of its core fundamentals such as instant payments, and KYC compliance, which makes it compliant to the regulations of pretty much every country in the world.
For Electroneum (ETN) investors, this increased demand is a good reason to believe even more in ETN as a solid long-term hold, one that could actually make someone rich. That’s because, demand is on the rise, yet the big moves in Electroneum are yet to happen. Once the partnerships start flowing in, the demand for Electroneum (ETN) will dwarf the gains it has made in the recent past. But will the partnerships come anytime soon?
Well, according to the Electroneum team, most corporates they were seeking partnerships with insisted on KYC. In essence, now that Electroneum has KYC, it is almost guaranteed that partners will start pouring in, and drive up the usage of ETN in the market for everyday payments. For instance, it could soon partner with telecom companies in offering mobile-based payments. This would instantly open up its usage in the market to hundreds of millions of users within a very short time. Just to understand the magnitude of such adoption, picture the fact that ETN has grown to its current price levels, even before real demand in the market actually picks up. What will happen once it gains in adoption and integrates with mobile service providers that have millions of subscribers? The price will do a moonshot!
Essentially, Electroneum (ETN) could be headed for a decoupling from bitcoin. It is already trading independently of bitcoin (BTC) and the rest of the market. That’s an indicator that once everything the team has planned is released, Electroneum (ETN) will fully set itself apart from the price movements of the rest of the market. A decoupling from BTC will draw in institutional money into Electroneum (ETN) and this could easily push it to a high of $1 if current market momentum is anything to go by.
It is without a doubt one of the cryptos to watch both in this quarter, and going into 2019. People are getting rich off Electroneum (ETN), and if it continues on this trajectory, it will create lots of millionaires soon. The fundamentals, and the marketing strategies adopted by ETN are just right.