Crypto traders are profit seekers. The process of weeding out chaff from the real-deal is tasking. It hasn’t been easy, especially after all the rug pulls of 2017, where over 80 percent of ICO projects turned out to be scams.
If anything, picking out solid projects is an art that takes many man-hours. However, amid the crypto and altcoin explosion, Electroneum defies gravity, super-exceeds expectations, and explains the many Electroneum price predictions for 2021.
Given the solid gains of late 2020 and Q1 2021, crypto traders are curious to know what the future holds. Will last year’s success continue? This article gathers comments from experts and layout an unbiased Electroneum price prediction for 2021.
It shall incorporate all of Electroneum’s fundamental and technical analysis, thoughts from market leaders, and ETN price forecasts from finely-tuned trading robots, and much more.
In doing so, we first need to cover the basics, clearly understand what the project is all about and why it generated buzz in 2020 due to its parabolic rise.
To get started, here is what you should know:
What is Electroneum?
Electroneum is a crypto project running on its blockchain. The native currency being ETN—the subject of this article.
Second, Electroneum wants to make payment and mining simplified. When everything is said and done, the project promotes cryptocurrencies in borderless, cheap, and value transfer via smartphones. For this reason, the ETN is also known as the “enablement currency,” promoting financial inclusion and crypto’s use as a medium of exchange. Compare it to Bitcoin but imagine a faster, cheaper, scalable, and mobile-based alternative.
Some of the different attributes of Electroneum include an easy-to-use interface on mobile with an Instant Payment System used by over 2.5 million across the world. Electroneum also makes use of miners. These miners, however, don’t need sophisticated gear. Right from their mobile phones, they can mine ETN, helping validate transactions, helping value move.
Contrary to expectations, Electroneum miners operate efficiently with a negligible consumption of power and data, therefore, having zero impact on the user’s mobile battery life. Miners can get started by creating an account. All ETN mined are paid out, and from there, miners can spend them paying for goods and other services—as they wish.
There are APIs for eCommerce stores to integrate ETN in their operations. Coupled with a zero waiting time, speed, negligible transaction costs, and blockchain transactions’ immutability, it is easy for crypto holders to opt to pay using ETN than fiat.
The Electroneum ecosystem is active, beneficial to people, corporates, and merchants. All can easily spend their crypto holdings, receive funds instantly, and corporates can by-pass needless red tape in a compliant environment.
A brief background of Electroneum and their Actions
Founders are from the U.K. However, team members are from across the world and headed by the CEO, Richard Ells. After a successful ICO, the team began distributing ETN coins in Q3 2017, launching its wallet, instant payment system, and miner in 2018.
The ETN solution has since evolved to be an award-winning project, finding users in over 190 countries. It is helping in financial inclusion as payment is via a practical system. Cognizant that regulation is vital, Electroneum introduced voluntary KYC and MAL rules—requiring disclosure. This was ahead of the European 5th Anti-Money Laundering Directive of 2018, whose laws are also enshrined in the U.K.
Notably, Electroneum miners and trusted validators comprise Non-Governmental Organizations (NGOs)—whose block reward proceeds are donated to charity. Electroneum plans to add universities and more as validators.
The Electroneum ecosystem comprises the Electroneum App—downloaded by over 2.8 million people, AnyTask—a freelancer platform, TaskSchool, ETN Donate, and ETN Everywhere.
Electroneum (ETN) Price Action so far
From the above, Electroneum undoubtedly works, solving a real-world problem. It has an active ecosystem in use by over 2.8 million people. Their objective of promoting crypto as an alternative to fiat is paying off, reflecting on ETN’s super gains over the last few months.
By late-Mar 2021, the ETN price was up 15X year-to-date, trading at $0.03 from a circulating supply of around 17.8 billion ETN coins. In total, there are 21 billion ETN coins dispensed to miners depending on activity.
However, what’s interesting, especially for traders, is the ETN’s upside and the height this coin can reach. At its peak in 2017, ETN soared, touching $0.17. The coin seems undervalued at $0.03 and a 15x year-to-date from the over 17.8 billion in circulating supply. There is more room for expansion, and a 5.5X rally from spot rates places ETN prices at $0.17—the peaks of 2017.
Accordingly, many analysts and traders are optimistic, explaining their moon-sling Electroneum price forecasts for 2021.
Accompanying the ETN price expansion over the last year, unlike in 2017, is participation. Over the last few months, after the consolidation of the better part of 2019, is a spike in trading volumes.
Notably, more traders use the token for trading purposes and value transfer more than in 2017. At the same time, prices are comparatively lower. These are hints of underlying demand, precursors for possible ETN/USD price expansion in the coming days.
What’s more? There are more markets for ETN. Interestingly, trading volumes are well-balanced between leading exchanges like KuCoin, Huobi Global, and Liquid. It appears as if ETN has utility in both developed and developing countries like the United States and Nigeria. Therefore, if ETN finds support from, say, Binance, the ETN price may rally another 5X in the next few months.
Electroneum Price Prediction for 2021
We have seen how ETN performances have been in the last few months. ETN/USD surges have seen an influx of trading volumes, leading to more ETN price forecasts for 2021.
This article shouldn’t be interpreted as financial or investment advice.
First, we look at the Electroneum price forecast for 2021 from bots drawing conclusions from technical analysis and algorithms.
DigitalCoin, a site whose algorithms use technical analysis, predicts the ETN price to hit $0.05 by the end of the year, rising to $0.17 in the next seven years. In their forecast, buying ETN can be a profitable investment.
Electroneum Price Prediction for 2021 on Twitter
Meanwhile, on Twitter, traders are bullish on Electroneum.
For instance, a user, RealMonteyAllen, thinks ETN will reach $0.17 by the end of the year.
Some random and unscientific USD price predictions for 12/31/2021$ALGO : 10.10$XRP : 3.25$ETN : 0.17$ETH : 11,125.00$BTC : 176,000.00$VET : 1.25$LINK : 65.00$DOT : 19.95$DOGE : 0.01$FLR : 0.86$FAME : 1,000,000.99 (easy!)
— KryptoNurd (@RealMontyAllen) March 3, 2021
On the other hand, with the increasing adoption and shift to digital payment, users, as per a poll result in late 2020, expect the ETN price for 2021 to reach a new all-time high above $1. At spot rates, the coin could potentially post another 50X, which is not a far-fetched idea considering altcoin gains in the recent crypto bull run.
The whole #Crypto market is in a #Bullish mood right now! Where does everyone see the #ETN price reaching in 2021? With the #USA market just around the corner. We can’t stay massively undervalued for much longer… surely!?!
— Crypto Stuey (@Crypto_Stuey) November 30, 2020
Meanwhile, another user, identifying an opportunity, says the market has ignored price while focusing on utility and fundamentals. If, therefore, traders play the “long game,” ETN prices can easily reach $0.50 and $0.1 by the end of the year.
Ells has definitely played the long game and done it very solidly.
They've ignored price and focused on the fundamentals, use cases, utility and adoption.
Etn can definitely get to 5 or 10 cents per coin by the end of 2021. Those would be massive gains.
— Benjamin (@TheBenjiLife) December 27, 2020
Electroneum Price Forecast for 2021 on YouTube
Youtubers also agree that Electroneum has successfully taken crypto to the masses. Since ETN prices are still considerably lower, diverging from its fundamentals, there is a chance for savvy investors to stack up ETN coins on every dip.
Crypto Ellis, for instance, talks of ETN’s use in the United States and the discounts for users who pay parking fees using the coin. Besides, there is widespread adoption of AnyTask. Accordingly, he expects the ETN price to reach $0.25—which he says is practical.
On the other end, Randy Jarosz mentions Electroneum partners like LockTrip and HostHavoc that aptly complement their product rooster of AnyTask and others. In his ETN prediction for 2021, he argues that Electroneum is a good investment that can reach $0.20, or even $0.50 by the end of the year. The ETN is banking the under-banked and boasts of a very active community.
Closing thoughts: Is Electroneum (ETN) a good investment?
Crypto is precisely what the internet needs. Existing digitally, these practical and timely solutions help in financial inclusion, banking the under-banked. Electroneum is a big part of this, especially with their smartphone-approach, and developing a vibrant ecosystem. AnyTask—a freelance platform powered by ETN is operational, and ETN Everywhere—a cooperative marketplace, are functional. TaskSchool—an online school, will soon launch.
Adding a superb 15X year-to-date, Electroneum (ETN) offers a simple, high throughput, and energy-efficient platform for sending value instantaneously and cheaply. This explains why its native currency, ETN, is among the top performers.
For this reason, analysts and traders continue to make bullish Electroneum price predictions for 2021. They cite positive fundamentals, increasing adoption, their U.K. roots, and the explosion of crypto as tailwinds. From what we have gathered above, traders expect the ETN price to rally between 2 to 10X this year.
While the ETN price forecasts are optimistic, the coin’s possibility of reaching $1 may take a while, requiring the project to command upwards of $8 billion in market cap. However, investors cannot dismiss the possibility ETN price reaching $1 in the next few years. This largely depends on Electroneum’s reach and crypto adoption levels. Already, Electroneum finds utility in over 173 countries, listing over 2.1k merchants.
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