August 9th, 2018:
Electroneum, which was set to be priced at 1 cent ($0.01) per coin, is a cryptocurrency that was made to "Open up a million dollar market for trillions."
-Quoted from Https://Electroneum.com
Electroneum was mainly set out for mobile owners. Through their official mobile wallet, Electroneum holders, or future ETN holders, are able to not only store their ETN coins securely on their phone & on Electroneum's web wallet, but where also given much more options.
In the app, users can 'mine' ETN, use an exchange calculator, see how much value and value change occured, and recieve and send coins (Wallet).
'Mining' Electroneum doesn't necessarily use your phone's CPU power. Instead, the mobile Miner is more of a simulator that actually pays you. The mobile Miner might be a huge cause of what is currently happening and might continue to happen to the value of Electroneum.
With hundreds of thousands of phones mining 24/7, did Electroneum need to add a bit of currency to make up the missing? I mean the circulating amount of ETN has clearly gone up... quickly in a shorter period pf time than usual.
Inflation is a reason that followed the problems of the mobile miner. Also, if you mine, like I do, I'm sure you've noticed how slow your pending balance goes up recently compared to... about a week ago (at least from when this article was written).
On CMC, Coin Market Cap, the charts are clear. Market Cap... USD price....Electroneum is diving, theres almost a 100% chance that it will continue to, slow or fast, but a clear 102% chance that it will never head back to 1 Cent per Coin unless ETN does another market cap fundraising campaign.
Besides the price... I 'predict' that ETN might have to go through a hard fork sooner or later.
Whats a Hard Fork?!, You ask?
"A hard fork term refers to a situation when a blockchain splits into two separate chains in consequence of the use of two distinct sets of rules trying to govern the system."
- source: Https://www.CrypToken.cf
Other perductions I feel are most reasonable and go "hand in hand" with my reasons:
WalletInvestor.com says "Down to 0.0000001 USD/ETN" as a perdiction and that it is a "BAD long term investment."
I agree... if they dont get it up again and quuckly... then ETN might in fact get lost forever and down to that number.
However...
@hmushtaq predicts that it might get up soon because of ETN's fast response. He also claims that the main reason is an issue with a block and monero, a "FUD" and lots of panic occured, yet ETN claims it is a simple fix.
@hmushtaq, your prediction is very reasonable and makes a ton of sense. It goes hand in hand with some of the reasons in my analysis.
Go ahead and check his full article here: https://bit.ly/2M2GDqZ
What are your thoughts? Leave a comment below, I'm excited to hear them!