Electroneum (ETN) is a cryptocurrency built on its own blockchain, launched in November 2017 with a focus on mobile payments and financial inclusion. Designed to empower users in developing economies through accessible digital currency solutions, Electroneum has carved out a niche in the crypto space despite facing challenges common to many early-stage digital assets. This comprehensive overview explores the current price dynamics, market performance, historical context, and technological foundation of ETN—providing valuable insights for investors and enthusiasts alike.
Current Electroneum Price Analysis
As of today, the price of Electroneum (ETN) stands at $0.00146**, reflecting a **-2.34% decline** over the past 24 hours. The coin opened the day at $0.00150, marking a drop of -2.58%** from its opening value. While recent performance shows downward pressure, understanding short-term volatility requires placing it within broader market trends.
Over the last week, ETN has declined by -10.52% from its 7-day high, and over the past month, it's down -26.12% from its 30-day peak. On the flip side, it’s currently up 2.68% from the lowest point recorded in the last 30 days but still down -1.62% from the 7-day low.
From a technical perspective, maintaining a price above $0.00145** is critical for near-term bullish momentum. If support holds, ETN could test its first major resistance level at **$0.00200. A breakout beyond this point may propel the asset toward $0.00240**, with a secondary target at **$0.00274 if buying pressure sustains.
In terms of trading activity, ETN is listed on 12 exchanges, with a 24-hour trading volume of **$5.1 million**—representing the exchange of over **3.48 billion ETN tokens**. While this volume indicates active trading, it remains below average compared to other cryptocurrencies launched in 2017, which collectively average around $6 million in daily volume.
Market Capitalization and Supply Overview
Electroneum currently holds a market capitalization of approximately $26 million, ranking it around #587 among all cryptocurrencies by market cap. This figure is calculated using the circulating supply of 18 billion ETN coins, with a maximum supply capped at 21 billion, leaving roughly 3 billion coins yet to enter circulation.
The concept of Fully Diluted Valuation (FDV)—which estimates market cap if the full 21 billion supply were in circulation—provides additional context for long-term investors. Should ETN’s price multiply by 2x, 5x, or even 10x, its market cap would scale accordingly, potentially elevating its position in the crypto rankings significantly.
Despite raising $40 million during its initial coin offering (ICO), Electroneum’s current valuation reflects the harsh realities of post-hype market corrections and shifting investor priorities. For comparison, many projects from the same era have either faded into obscurity or pivoted drastically—making ETN’s continued presence notable.
Electroneum ICO: A Retrospective
The Electroneum ICO officially ran from September 13, 2017, to October 30, 2017, successfully raising $40 million USD**. The token sale offered ETN at an initial price of **$0.00350 per coin, attracting early adopters who believed in its mission of mobile-based financial accessibility.
Since the ICO, however, the price has dropped significantly—currently trading at just 41.78% of its original offering price. This means an initial $100 investment during the ICO would now be worth only about **$41.78**, underscoring the risks associated with early-stage crypto investments.
Electroneum reached its all-time high of $0.182123 on January 7, 2018, less than two months after launch—a surge driven largely by the broader bull market of late 2017. Since then, over 7 years and 5 months have passed without revisiting those levels, highlighting both the volatility and long consolidation phases common in the cryptocurrency ecosystem.
For the past 52 weeks, ETN has traded between a low of $0.00132** and a high of **$0.00562—a range that suggests limited upward momentum but also resilience against deeper declines.
Technology and Consensus Mechanism
Electroneum operates as a Proof-of-Work (PoW) blockchain, utilizing the CryptoNight hashing algorithm to secure its network and validate transactions. As a mineable cryptocurrency, new ETN tokens are generated through mining, where participants contribute computational power to solve complex cryptographic puzzles.
This design choice supports decentralization and allows individuals—even those with modest hardware—to participate in network security. The use of CryptoNight further enhances accessibility by being ASIC-resistant, reducing the dominance of specialized mining equipment.
With approximately 3 billion ETN coins remaining unmined, there is still room for gradual inflation over time, though issuance slows as block rewards diminish—a common feature in PoW systems designed to control supply growth.
Category Rankings and Competitive Positioning
Electroneum holds several notable positions across niche crypto categories based on market capitalization:
- Payments: #53
- Mobile: #5
- Wallet: #17
- Premine: #7
- Finance / Banking: #18
- Layer 1 (L1): #97
- Mineable Coins: #35
These rankings highlight ETN’s strength in mobile-first financial solutions—an area where it continues to differentiate itself despite lower overall visibility compared to larger-cap cryptocurrencies.
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Frequently Asked Questions (FAQ)
Q: What is Electroneum (ETN) used for?
A: Electroneum is primarily designed for mobile payments and digital remittances, especially targeting users in underserved regions. It aims to provide fast, low-cost transactions via smartphone apps and integrated wallet services.
Q: Is Electroneum mineable?
A: Yes, Electroneum uses a Proof-of-Work consensus model with the CryptoNight algorithm, allowing users to mine ETN using standard computer hardware or mobile devices.
Q: What is the total supply of ETN?
A: The maximum supply of Electroneum is capped at 21 billion coins, with around 18 billion currently in circulation.
Q: How does Electroneum compare to other 2017-launched cryptos?
A: While it raised significant funds during its ICO, Electroneum’s trading volume and price performance lag behind many peers from the same period. However, it maintains relevance in mobile-focused blockchain applications.
Q: Can ETN reach $0.01?
A: Achieving $0.01 would require a roughly **685% increase** from current levels and a market cap exceeding $180 million. While technically possible under strong adoption or market conditions, no short-term catalysts suggest this outcome is imminent.
Q: Where can I buy Electroneum (ETN)?
A: ETN is available on multiple exchanges globally. Users should verify platform reliability and liquidity before trading.
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Final Thoughts
Electroneum remains a unique player in the cryptocurrency landscape—not due to market dominance, but because of its persistent focus on mobile accessibility and financial inclusion. While price performance since its ICO has been disappointing for early investors, the project’s infrastructure and category-specific rankings suggest ongoing development and utility.
For those evaluating ETN as part of a diversified portfolio, understanding both its historical trajectory and technological foundation is essential. As macroeconomic conditions evolve and mobile-first economies grow, projects like Electroneum may find renewed relevance—even in a highly competitive market.
Staying informed through reliable data platforms allows investors to track shifts in sentiment, volume, and price action that could signal future opportunities.
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