Electroneum ETN

$0.0063
Market Cap $ 58.077 MM (#102)
24h Volume $ 780.641 K
Chg. 24h: 6.72%
Algo. score 4.4/5  (#4)
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Electroneum News

Earn Bitcoin Playing RPG Games

Instead of spending hours and hours locked away in your room playing RPG for the good (or bad) of your health, how does earning Bitcoin whilst playing your RPG games sound? Believe it or not, this is eminently doable, with a range of games out there allowing you to do just that. You just have to know where to look. To save you the hours spent searching, here are some of the RPG games we’ve found that reward players with Bitcoin. Enjoyable and rewarding, I bet no one has ever told you that playing RPG games could be both of those things at once. What do they know? Before long you could be withdrawing actual Bitcoin, or electroneum, which is more comparable to ‘real money’ than Bitcoin and on the rise in Africa and the developing world. To be honest, you could end up withdrawing and converting your rewards into whatever cryptocurrency you and your country of origin place the highest value on. Does it really matter when you’ve got a killer RPG to be playing? You can make your own mind up. Now, onto the really important business, the RPG games that could fill your digital treasure chest to the point of bursting. Let’s see if they’re just a gimmicky vehicle to promote Bitcoin, or if they’re actually worth trying. You never know, you could unwittingly unearth your next favorite game. Even if you don’t, you could add some Bitcoin to your wallet whilst you find out. BitQuest Much more than your Bitcoin casino games and basic flash arcades, this is a step beyond. A level up if you like. Minecraft lovers unite, this is not a drill. BitQuest could give you the exact same thrill that your usual favorite provides, only with the added bonus of earning you Bitcoin in the process. This game is highly addictive though, just like Minecraft, so watch the clock and don’t let night turn into day without at least getting a little fresh air every now and then. If you’re happy to embrace the gamer lifestyle, stock the mini fridge and get the pizza on order because you’re not going to want to take your eyes off this one. A ‘sandbox game’ BitQuests lets players build their own game worlds from scratch, wherein they can plot and change a captivating game story that suits them. Having total control over the game is a real bonus, on top of the in-game currency of Bitcoin. Mining, trading and interacting with other players is the way to give your wallet a boost, You may never play Minecraft again after getting hooked on this bad boy. Spells of Genesis Almost as old as Bitcoin itself, Spells of Genesis has been an up and running RPG for a good long time. Players describe this game as having absolutely everything you could possibly want in a Bitcoin RPG. Players actually say that even without the Bitcoin element, they’d happily indulge in a Spells of Genesis binge, either by themselves, with friends or as part of an online community. It’s just a good game. It’s fun, challenging and rewarding. Available to play on the go via mobile devices, in addition to on your desktop, thus game combines the trading card genre with elements of strategy. A bit like PokemonGO meets coinmaster, somewhere in the middle of the internet. All of this is neatly sandwiched between classic arcade style features. Bitcoin and RPG enthusiasts alike swear by this game, and once you get playing it, so will you. Orbs, as the game calls them, need to be collected, traded and combined, so that you can assemble as strong a gameplay deck as possible. The vast world of Askian is where you’ll do battle with your online opponents. As with most RPGs, the in game currency, in this case ‘the orbs’ vary in their value and how rare they are. The more rare the orb, the stronger your gameplay deck can become. This could be more down to luck than judgement, but if you’re willing to commit the time, you can search your way to a pretty heft gameplay deck, even without a slice of good fortune along the way. Coin Brawl Another beautifully unique RPH Bitcoin game, this bar room brawl of a game pits you against other players in a bid to fight your way to earning some serious Satoshis. Upgrading your character could earn you in excess of 100,000 Satoshis per day, if you’re willing to fight for it. Who are we kidding? Of course you are. The post Earn Bitcoin Playing RPG Games appeared first on ZyCrypto.

20 hours ago

What Is Electronero ($ETNX) - NullTX

Electronero (ETNX) is a privacy centric CryptoNote cryptocurrency whose mainnet first went live on May 30, 2018. At its core, ETNX is a fork of Electroneum - a mobile focused crypto launched back in 2017. Furthermore, Electronero utilizes the Monero source code, and has been reinventing anonymous cryptocurrency by combining the best features of leading

4 days ago

Electroneum Price Attempts to Move up but Pressure Remains

In the world of cryptocurrency, there will always be markets which struggle first and foremost. While Bitcoin is currently subjected to a bit of a bullish spell, the same won’t always apply to alternative markets. When looking at the Electroneum price, it quickly becomes evident the recent losses have left a mark on this currency. Recovering them will be a tough challenge, albeit an important first step has been taken. Electroneum Price Needs to get on the Mend Quite a lot of people were surprised to see Electroneum continually lose value last week. Albeit the overall market conditions have not been the greatest by any means, most of the crypto markets held their own quite well. Electroneum was seemingly incapable of avoiding this downtrend, which is still in effect as of today. However, there currently is a minor gain across the board which can help turn the situation around and make something interesting happen. To be more specific, the Electroneum price has risen by 1.3% in the past few hours. Because of this minor gain, one ETN is now valued at $0.005765. There is also a very small change in ETN/BTC, as a 0.39% gain will not get too many people expected. Sustaining the 140 Satoshi level will be a key challenge for this market moving forward, but it is not entirely impossible to do so as the day progresses. No real gains in ETN/BTC are to be expected at this time. Mr. CryptoCZ is perhaps the biggest Electroneum bull in the world today. This enthusiast recently shared a key list of achievements earned by Electroneum throughout 2018. Considering how the mobile mining apps are now firing on all cylinders and the M1 smartphone seems to be in high demand, things are still looking up in early 2019. Keeping this momentum going will be crucial for this alternative market, although there is always plenty of work to be done. #ETN #Electroneum & our 1st #achievements top #crypto #altcoin at the market playing the game with top big #brands like #amazon & top #telcom #operator #mvno #mvna bcs we are part of #gsma @gsma we have deals in #korea #HongKong #asean #africa #SouthAfrica #mexico #Philippines pic.twitter.com/EoD0p2TWVP — Mr.CryptoCZ (@cechv2) April 1, 2019 There are a fair few community members who still expect mass adoption of ETN to occur. Soon thinks this altcoin is too good to be ignored, whereas Ziegler Toby expects mass adoption to still be multiple years away at this point. While there is plenty of momentum in favor of Electroneum as of right now, it remains to be seen how this situation evolves moving forward. The crypto industry is not out of the clutches of the bear market trend as of yet, thus anything can happen in the coming months. Just wondering how many years it will take to the world to embrace #ETN — Ziegler Toby (@Phergoph) April 1, 2019 One particular point of concern is shared by Stevie Haynes. This user confirms the ETN buy support has been eroded slowly in recent days and the buy orders are being stacked at much lower levels. This usually warrants a bearish trend to materialize fairly soon, although one never knows what the future will bring for an alternative market. It appears ETN will see a major market shift pretty soon, either for better or worse. Bullish divergence on #etn But slowly eating away at the support and buy orders being moved way below this. Expect a big move north or south! Looks pretty bad at the moment for the HODLERS.@electroneum #crypto #kucoin #huobi #btc #blockchain #exchanges #bull #bear pic.twitter.com/WcmYmtwrjT — Stevie Haynes (@thesteviehaynes) March 31, 2019 While the current signs do not indicate Electroneum will turn mega bullish in the near future, there is always a chance this may be the beginning of a prominent uptrend. Small gains are usually an indicator some market trend is brewing, although ETN has shown plenty of bearish signals in recent weeks. As long as Bitcoin remains in the green, there will not necessarily be any real problems for alternative markets like Electroneum, but carving out real gains will also be problematic. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. Image(s): Shutterstock.com The post Electroneum Price Attempts to Move up but Pressure Remains appeared first on NullTX.

4 days ago

What Is Electronero ($ETNX)

Electronero (ETNX) is a privacy centric CryptoNote cryptocurrency whose mainnet first went live on May 30, 2018. At its core, ETNX is a fork of Electroneum - a mobile focused crypto launched back in 2017. Furthermore, Electronero utilizes the Monero source code, and has been reinventing anonymous cryptocurrency by combining the best features of leading CryptoNote coins including Bulletproof RCT’s, adjustable privacy levels, CryptonightFast Proof-of-Work, Camel emission and the M-LWMA difficulty algorithm. There are a great deal of impressive developments under Electronero’s hood which are an immense factor in the cryptocurrency’s price booming beyond 5X since the dawning of the year. What Is Electronero Exactly? As mentioned, Electronero ($ETNX) is a fork from Electroneum which employs the Monero source code. The manner in which the cryptocurrency kicked off is through an airdrop that provided ETNX to users holding Electroneum. On block 307,000 of Electroneum a snapshot was taken of the blockchain and for a limited duration users received ETNX at a 1:1 ratio. One of the key differences characterized by Electronero is the addition of more technical features to the coin such as bulletproof RCT’s, adjustable privacy levels with mixin 1 to 100, Camel emission and the M-LWMA difficulty algorithm. Behind Team Electronero The project is lead by Mark Evans, Lead Blockchain Architect of Electronero. There are numerous associates managing the diverse community, who strengthen the vast support that exists for Electronero. It’s admirable to see that the team behind this cryptocurrency doesn’t hide behind anonymous profiles, unlike the majority of cryptocurrency projects. Moreover, Kyle Daughtry, COO, added: “Electronero’s community as a whole has been our greatest motivator, and by working together we achieve great progress. Our team ensures the community may participate in carving Electronero’s future. We couldn’t have made it this far without the dedication and devotion of the investors. We encourage everyone to engage in the discussion on Telegram and Discord!” Electronero’s Price At the time of writing, ETNX is trading at $0.15 with an overall market cap of $1.1m. Much of Electronero’s volume originates from TradeOgre, a relatively new cryptocurrency exchange established in 2018. Upcoming Features for Electronero There are various new developments in sight for ETNX. In November of 2018, the Electronero team announced that they will be performing a hard fork that will create a second coin called Electronero Pulse ($ETNXP). ETNXP was distributed to holders of ETN and ETNX similar to the initial hard fork. One key difference is the new cryptocurrency features a new GPU/CPU mining algorithm called Cryptonight Fast. In January of 2019, the team announced Electronero Classic ($ETNXC), a new crypto and a 1:1 fork of ETNXP aimed to be utilized in smart contracts, unlike ETNXP which is more tailored towards gaming / game contracts. In February of 2019, Litenero ($LTNX) was announced, a 1:1 hard fork of ETNX fit to be the silver to Electronero’s gold. The Electronero team’s strategy of creating different tokens for different use cases is definitely an interesting one. Up to this point we mostly have seen such strategies with NEO and NEO Gas, Vechain and VTHOR, but we haven’t quite seen cryptocurrencies fork multiple times for different use cases. To summarize, at this time there are 4 versions of Electronero: The original ETNX, the complementary LTNX, the game oriented ETNXP, the smart contracts oriented ETNXC. Electronero Passport Electronero Passport a secure protocol layer which transports data from users to the blockchain. This is some of Electronero’s major league tech, that catalyzes the entire project to further enable dapps/apps to use the Electronero blockchain to interact with and store users data. Electronero Passport is in use today in production with the following highly available d’apps: Electronerobot Telegram/Discord Social Wallet Bot, Electronero Mobile Application for Android and iOS, Webnero graphical web interface and more. The STORM Protocol Another interesting development is the STORM protocol. On March 11th, the Electronero team announced that they have a strong user base of investors who want the block rewards reduced to decrease the inflation rate thereby increasing demand. As a response to that the core team developed the STORM protocol which reduced block rewards and helped counteract the effects of FPGA attacks on the network. FPGA miners periodically consumed more than 80% of the network’s hashing power which centralized the mining pools for ETNX. Furthermore, Pulse CFO clarified: “Our network is supporting multiple coins with different aspects of specialty. Electronero is even taking measures to help normal miners against FPGAs and ASICs. Giving the miners a chance to vote on important changes to consensus including emissions and future of the project in collaboration with the Electronero

4 days ago

Electroneum Price Begins to Slide Despite Ongoing Growth in South Africa

When it comes to the different cryptocurrencies on the market, there are always opposite trends and developments to take into account. Whereas most markets try to note some form of bullish momentum, Electroneum is heading in the opposite direction. So much even that the Electroneum price has now officially turned bearish, at least temporarily. Where is the Electroneum Price Headed? In the cryptocurrency world, there is no such thing as individual markets making sense to the average onlooker. Electroneum is a very interesting example in this regard, a sit follows a completely opposite trend compared to Bitcoin and other top markets. Although some bearish pressure looms ahead for most cryptocurrency markets right now, one wouldn’t necessarily expect ETN to be one of the first to note pretty steep losses at this time. Over the past 24 hours, the Electroneum price has lost 0.86% in USD value and 1.44% in BTC value. As a result, one ETN is now priced at $0.006040, or 148 Satoshi. It is rather interesting to keep an eye on both of these trends, although neither of them is looking too great. Perhaps the most worrisome aspect is how ETN’s trading volume has collapsed entirely. After several days of multi-million dollar trading, the volume has dropped to $281,000 again. Not the most impressive development. On social media, it quickly becomes apparent some interesting things are happening behind the scenes. South Africa appears to be an interesting market for Electroneum right now. An informal trader has begun spreading the word about ETN and is now telling others about how this ecosystem works. It is an intriguing region as far as cryptocurrencies are concerned. South Africa could become a hotbed of crypto activity, assuming regulators allow it to thrive in the years to come. Great we need more #vendors #eShops #mobile #operators #Electroneum #ETN is great join us and use our #cloudmining app for both platforms #ios and #Android — Mr.CryptoCZ (@cechv2) March 28, 2019 Speaking of Electroneum’s presence in South Africa, it would appear a local car wash now officially accepts ETN transactions in exchange for its services. Although this may not prove to be the most lucrative option for this particular company, it is comforting to see cryptocurrencies make inroads in this part of the world. There is still a very long way to go until Electroneum becomes really big in South Africa, but these are important steps in the right direction. From acorns, mighty oaks grow! Another business accepting #Electroneum: car wash. #ETNhttps://t.co/wEmhfdvjeg — C Biscuit (@chandler_adams) March 27, 2019 It is always interesting to see how altcoin traders deal with the current uneasy market momentum. WallSt, for example, is quite happy with his ETN holdings, even though this market is one of the first to dip in the red in such a decisive manner. Other altcoins are not doing too great either right now, but that is only to be expected under these circumstances. It is always possible ETN will recover at some point in the near future, although one never knows for sure. I'm heavily invested into #etn but if it wasnt for my shitty alts I'll b hurting rn https://t.co/597BDMnJvn — WALLst (@ETNstylez) March 28, 2019 For the time being, it remains to be seen what the coming hours will hold for all cryptocurrency markets. If Electroneum is an indication of what is yet to come, there will be a major downtrend for all markets in the near future. That wouldn’t necessarily be appealing to traders and speculators, but it remains to be seen what will come next. For now, the $0.006 level should remain intact, but there will be some pressure on this market for some time to come. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. Image(s): Shutterstock.com The post Electroneum Price Begins to Slide Despite Ongoing Growth in South Africa appeared first on NullTX.

7 days ago

Check out the Electroneum Bazaar; an online marketplace wher...

Check out the Electroneum Bazaar; an online marketplace where you can buy and sell goods in #ETN:… https://t.co/Iq0BZ34d00

10 days ago

Electroneum Price Lacks Upward Momentum Despite M1 Phone Launching on Amazon UK

In the cryptocurrency world, there is never a guarantee for success whatsoever. Despite the potential any individual market may display at any given moment, there is not necessarily a direct correlation with the price. In the case of the Electroneum price, the current momentum doesn’t seem to affect the value in a positive manner. That is a bit unusual, although there is a chance things will turn around sooner or later. Electroneum Price is in an Odd Place In this volatile industry, it is always pertinent to keep the bigger picture in mind. While Bitcoin Maximalists might not necessarily pay much attention to the thousands of altcoins on the market, the rest of the community is looking at things from a different perspective. As far as Electroneum is concerned, there are plenty of recent developments which could effectively yield a much higher price in the near future. So far, the market hasn’t responded to these developments in a promising manner, though. Over the past 24 hours, the Electroneum price has dropped by 0.34% in USD value and lost 1.5% in Bitcoin value. While the current levels of $0.006437 or 157 Satoshi are still pretty solid, it seems to be a matter of time until something changes. One would expect ETN’s increased trading volume of nearly $13m to help matters move along, but that is not the case at this time. It is a sign of how the recent Huobi listing is helping this market gain more liquidity. The big news of the week is how the Electroneum M1 smartphone can now be purchased from Amazon in the United Kingdom. Although the device isn’t available through Amazon in most other countries as of yet, there is a good chance it will come to the US and other major regions fairly soon. In terms of ensuring ETN gains mass adoption, this turn of events could have some very interesting consequences moving forward. For those of you looking to buy the #Electroneum #M1 phone, its now available on Amazon UK. I'm definitely picking one up when it becomes available here in the states.#ETN to the moon! #MassAdoption — Philam Henry (@cryptophilam) March 21, 2019 There is also a chance Electroneum could be added to Litebit in the near future. While it remains to be seen if the company will acknowledge the community’s interest in this regard, there is always a good chance something will happen sooner or later. Litebit has positioned itself as a relatively important gateway for cryptocurrencies in Europe as of late. They could also provide more fiat currency gateways for ETN, which can help improve the market cap ranking in the process. Why #Electroneum of course. https://t.co/UpnlarHzE4 — CJackson (@CJ51302078) March 21, 2019 Last but not least, one Electroneum community member has started to print merchandise which is ETN-themed. While it remains to be seen if these products will ever become available for mass purchase, it is a very interesting initiative regardless. Spreading the word about any cryptocurrency is always an uphill battle. Clothing and other forms of merchandise may prove to be rather helpful in that regard. Where are the trade volume trolls NOW? #Electroneum #Fork-C the future is bright indeed 11.7 mill USD last 24 hrs #ThursdayMotivation #HumanRightsDay #SouthAfrica pic.twitter.com/8kk8Vq3JWZ — Download Electroneum 7C5E2A (@RealYungMoola) March 20, 2019 Although the current ETN price is still in the dirt, for the time being, there is a chance things could turn around at any given moment. With Bitcoin and other top markets showing some minor bullish signs, it is usually a matter of time until all alternative markets benefit from this particular trend as well. For Electroneum, the coming hours may prove rather crucial, although no one knows for sure how things will evolve exactly. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. Image(s): Shutterstock.com The post Electroneum Price Lacks Upward Momentum Despite M1 Phone Launching on Amazon UK appeared first on NullTX.

15 days ago

Excited about ETN going live on Huobi? Don’t stop there! Che...

Excited about ETN going live on Huobi? Don’t stop there! Check out Huobi’s launch competition! Head over now to see… https://t.co/2qKlIqYT86

21 days ago

ETN has launched on Huobi! But if that news isn’t enough to ...

ETN has launched on Huobi! But if that news isn’t enough to get you excited, how about the chance to win 5.7 Millio… https://t.co/pRu23aQrWI

22 days ago

Notice: Huobi is not yet open for ETN deposits in USA and Ja...

Notice: Huobi is not yet open for ETN deposits in USA and Japan. We will notify you at a later date when this becom… https://t.co/hGQc2ThJHM

23 days ago

You asked for a top exchange. Well ... we've got one for you! ...

You asked for a top exchange. Well … we've got one for you! Huobi are now open for ETN deposits (minimum 150 ETN)… https://t.co/z5u1GddWr3

23 days ago

Electroneum's (ETN) Price Plummets to a New Low Despite South African Partnership

Most cryptocurrencies are trading green today, but Electroneum (ETN) has continued plunging despite its recent partnership with South Africa-based Unlimited Mobile Provider. As at the time of writing, 5:36 AM UTC, the ETN/USD pair is down 4.10% to trade at $0.0059. The coin has also lost 8.82% over BTC and is currently worth 150 Satoshi. This slide comes as the general public expected the token to surge after its recent partnership, which awards the users of the mobile platform double airtime every time they top up with ETN. (KE)

a month ago

Electroneum (ETN) Price Analysis : Survey on Electroneum’s Irresolute Market

Electroneum (ETN) Price Analysis : Survey on Electroneum’s Irresolute Market Electroneum is a mobile-first cryptocurrency aimed at mass adoption. It is built off Monero codebase to allow for transactions on a decentralized blockchain. It overcomes the shortcomings of bitcoin’s privacy issues. Electroneum’s stealth address, a one-time public key that prevents recipient’s funds from being linked

a month ago

@Triskellx @Pugloves_crypto @electroneum @efinexchange @dere...

@Triskellx @Pugloves_crypto @electroneum @efinexchange @derekcapo Don’t know much about ETN and the whole KYC contr… https://t.co/tJ4aKU0BH3

a month ago

Electroneum Price Notes a Minor Gain as M1 Phone Creates a Positive Buzz

In the cryptocurrency world, there is never any guaranteed price momentum to speak of. Two days ago, the market seemed a bit bearish, whereas yesterday was slightly more positive. Today, it seems as if the bearish trend will return once again. Despite the odds, the Electroneum price is starting to move up ever so slightly. A promising development, at least for the short-term. Electroneum Price Momentum Turns Around When Bitcoin and other top markets show some signs of bearish pressure, virtually all other markets will follow suit in the near future. Today appears to be one of those days when things seemingly will not turn out all that well, although Electroneum may prove to be a minor exception. Although its overall momentum is far from impressive right now, there is some positivity affecting the market at this time. Over the past 24 hours, there has been a healthy 3% increase in the Electroneum price. This rise affects both the USD and BTC value alike, which shows there may be some life to this uptrend. More specifically, the current price sits at $0.006156, or 157 Satoshi. It would appear the 150 Satoshi has held after all, although there may still be some further pressure in the coming days. Weekends are usually rather disruptive for some currencies, especially the lower-cap ones. The excitement regarding ETN is always present on social media. It seems the Electroneum team still has a few leftover M1 phones from Mobile World Congress 2019. It is evident this device has a lot of people talking about Electroneum as of right now, although it is not necessarily something that will elevate the price all of a sudden. A tangible product is still pretty uncommon in the cryptocurrency world these days, thus ETN seems to be ahead of the curve. We have an extra box of #Electroneum M1 phones from #MWC19. What shall we do with them?! Do you guys want some #giveaways? What would you do to get them? Comment below. pic.twitter.com/HkqFhCywEI — electroneum (@electroneum) March 7, 2019 Akinsboy is simply happy to see how Electroneum’s team is delivering on all promises and within the allotted timeline, for the most part. It is evident this project is checking a lot of the right boxes in this regard, even though its current value and market cap might tell a completely different tale. Developers sticking tot heir timeline is another rarity in the cryptocurrency world these days. Electroneum keeps its words from the day 1. Once I get this M1 phone, I will keep my word by giving out my current android phone to help enlarged the #etn community members. Long live #electroneum — Akinsboy (@Akinsboy3) March 8, 2019 Paul Tomlinson considers now to be a good time to buy more ETN. Although this user doesn’t mind using the KuCoin exchange, having Electroneum on Binance would certainly be an interesting sight to behold. It would appear as if Binance has no imminent plans to add Electroneum, although one never knows what the future may hold. Currencies which perform well and are not subjected to much controversy usually seem to make their way to Binance sooner or later. Buying more #ETN via @kucoincomI have to say I do like Kucoin but I also like trading on @binance. Sure wish that were an option. — Paul Tomlinson (@pauly99) March 8, 2019 All things considered, this upward Electroneum momentum was somewhat to be expected. Although the gains are not all that big at this time, it seems unlikely the weekend will disrupt this momentum as of right now. However, Electroneum’s trading volume remains incredibly low, like it has been for several months now. Until that volume improves significantly, it seems unlikely a real breakout will occur in the near future. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. Image(s): Shutterstock.com The post Electroneum Price Notes a Minor Gain as M1 Phone Creates a Positive Buzz appeared first on NullTX.

a month ago

South Africa ETN Users, what are you waiting for? Take advan...

South Africa ETN Users, what are you waiting for? Take advantage now of the awesome ETN offer from The Unlimited. T… https://t.co/Yw1tYqgasv

a month ago

Love spreading the word of Electroneum in South Africa? Have...

Love spreading the word of Electroneum in South Africa? Have your own suggestions on how to promote us? Let us know… https://t.co/Tb7gWR73Ow

a month ago

Calling all ETN users in South Africa! Join The Unlimited to...

Calling all ETN users in South Africa! Join The Unlimited today, Top up in ETN and get double airtime and data. Cla… https://t.co/2CHAMJSlD3

a month ago

Electroneum Price Dips to 150 Satoshi Despite Major South African Partnership

While most of the cryptocurrency markets have turned bullish once again, it seems there will always be some exceptions. A fair few people will be surprised to see the Electroneum price is still bearish at this time. Its losses in both USD and BTC value continue to pile up, which is not necessarily what most people would have expected to see right now. Electroneum Price Can’t Catch a Break It is safe to say the Electroneum market has seen some interesting momentum in recent months. When most markets were down, the value of ETN would often offer a bit of a reprieve. That is no longer today, although the reason why remains unclear. With all top markets enjoying bullish momentum, it is all the stranger to see Electroneum turn uber bearish all of a sudden. Over the past 24 hours, the Electroneum price has lost nearly 6% in USD value, driving the price down to $0.005832. There is also the 8.82% loss over Bitcoin, which is something to be even more concerned about right now. This particular drop has forced ETN down to 150 Satoshi, a value traders hadn’t expected to see for quite some time to come. Even so, ETN is doing the exact opposite of all other markets, for some unknown reason. There is another big Electroneum-related development which can put a positive spin on the ecosystem. More specifically, there is a partnership involving ETN and South Africa’s The Unlimited mobile provider. Users can earn double airtime and double data when they top up their balance with Electroneum. It is a major development for this mobile-oriented cryptocurrency, although it doesn’t appear to impact the price in a positive manner. Are you in #SouthAfrica? FREE sim card! DOUBLE AIRTIME and DOUBLE DATA for your mobile with The @Unlimitedza when topping up with #ETN! https://t.co/nQAJNNfiMD+ https://t.co/jD21E4ejFG for more info! Go #electroneum! pic.twitter.com/2ppPFlgjlY — ETN Academy (@ETN_Academy) March 5, 2019 As far as the ETN community is concerned, it would appear another “call to arms” is on the horizon. CryptoLady wonders which community is stronger between Digibyte, XRP, and Electroneum. So far, it seems as if Digibyte is getting the most votes, even though these Twitter polls never amount to much in the end. For the time being, however, it is an interesting “debate” to keep an eye on. Which #crypto Community is stronger? If you have another favourite, write it to the comment. #Share #DigiByte #Electroneum #Ripple #DGB #ETN #XRP #altcoin@DigiByteCoin @electroneum @Ripple — CryptoLady (@CryptoLadi) March 5, 2019 CryptoSuaveA is wondering how and when Electorneum will make a strong impact in the price department. Although the current crypto winter has not lasted over two years - it has been in effect for 17 months - it seems as if ETN is turning wintery again. Additionally, the currency saw a fair few short upward bursts whereas other markets remained in the red. As such, it seems ETN will do just fine in the long run, despite the current minor setback. #ETN got wrecked bad this crypto winter that has lasted 2+ years. Wonder how the come back will look. — CryptoSuaveA (@JonathanDoesIt) March 6, 2019 All things considered, it seems the value of Electroneum will return to normal levels sooner or later. While this wave of bearish pressure is rather unexpected at this time, it seems there is nothing to be overly concerned about as of right now. The ongoing mobile expansion is still in play. With this interesting partnership in South Africa, a valuable precedent has been created. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. Image(s): Shutterstock.com The post Electroneum Price Dips to 150 Satoshi Despite Major South African Partnership appeared first on NullTX.

a month ago

Take advantage of this amazing ETN offer from The Unlimited ...

Take advantage of this amazing ETN offer from The Unlimited in South Africa. Top up in ETN and get double airtime a… https://t.co/V16nlYxphd

a month ago

Top up in South Africa with ETN and get double airtime and d...

Top up in South Africa with ETN and get double airtime and data with The Unlimited. Claim your FREE sim card today!… https://t.co/zo7FyM57m1

a month ago

Electroneum launches crypto-mining smartphone at MWC in Barcelona

Electroneum unveils the M1—a low-cost mobile phone, which “pays you back” for mining cryptocurrency. The post Electroneum launches crypto-mining smartphone at MWC in Barcelona appeared first on Decrypt Media.

a month ago

Electroneum CEO: why we’re launching a mobile phone

It was the first company to introduce an app that mines crypto on most smartphones. Now, CEO Richard Ells says Electroneum’s launching its own cryptophone. The post Electroneum CEO: why we’re launching a mobile phone appeared first on Decrypt Media.

a month ago

XRP to be listed in Coinbase Pro, and more

Today's Debrief: Coinbase lists XRP. MakerDAO's one-man-bank. Fold goes gold. Electroneum makes a phone. Prediction market fails to predict. ANOTHER ICO? The post XRP to be listed in Coinbase Pro, and more appeared first on Decrypt Media.

a month ago

M1, the Smartphone That Pays You Back in ETN

With the introduction of a cryptocurrency wallet in the latest model of Samsung, namely the S10 just a few days ago, a UK based digital payments firm Electroneum, has unveiled its smartphone M1 which enables the user to mine cryptocurrency (ETN). The mined cryptocurrency can be used for various purposes such as in mobile data upgrades, online shopping, and other online services. These mobile phones cost a mere USD 80. About USD 3 worth of ETN can be mined every month on these phones. One of the biggest advantages of M1 is its accessibility in the developing countries. This gives a great opportunity for fuelling the adoption of cryptocurrency and blockchain in these countries and promote global usage. The first launch market was chosen to be South Africa. The CEO and founder of Electroneum said, “South Africa was an obvious choice for us. We carried out a large survey in the country and found that 97 percent of those who responded said they would like to use ETN to pay for mobile airtime and data.” The introduction of this feature might well ensure the wide expansion in the usage of ETN. ETN currently has 2,878,394 users and over 300,000 social media follower count. This means that the already increasing number of users will receive a significant upsurge which might prove to be greatly beneficial not only to Electroneum but also to the cryptocurrency market as a whole. However, this feature certainly has received a few negative opinions. In a recent tweet, Weiss ratings showed their disbelief stating that they were unsure of the mining capabilities of the phone and doubted its functionality. Alongside the other salient features that M1 possesses, it could attract various users across the globe, which in turn will promote the concept of digital currency. Using the plethora of applications and scope of Blockchain, the introduction of this feature will help cryptocurrencies in revolutionising in the global economy. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? - View our Media Kit PDF here. Image Courtesy: bitcoinnews.com The post M1, the Smartphone That Pays You Back in ETN appeared first on BitcoinNews.com.

a month ago

Electroneum Price Remains Stable as Number of Mobile Miners Increases Sharply

There appears to be a genuine lack of excitement in the cryptocurrency industry as of right now. With none of the main markets effectively making a significant move, there are a lot of uncertain factors to keep an eye on. As far as the Electroneum price is concerned, things are not looking bad or good right now. A status quo ensues, which is often better than unwarranted volatility. Electroneum Price Remains Rather Stable A fair few interesting developments have taken place in the land of Electroneum over the past few weeks. By officially launching the mobile mining app on iOS and Android, as well as joining the GSMA advisory board, a firm step in the right direction has been taken. However, it seems most of these developments have not affected the market value in the slightest. Over the past 24 hours, that status quo hasn’t changed much either. The Electroneum price lost 0.02% in USD value and gained 0.05% in Bitcoin value. As such, the actual price seems to hold its own at $0.006436, or 167 Satoshi without too many problems. These developments are not necessarily inspiring, but still noteworthy. On social media, there is no lack of excitement when it comes to Electroneum. WALLSt is looking forward to the upcoming battle between Electroneum and XRP. It seems this Tweet pertains to the future market valuation of both projects. As such, Electroneum should gain value or XRP will collapse. Either development would be rather intriguing, although the latter seems the most improbable of the two. First it was the battle between of #ETH price vs #BCH NEXT UP #LTC VS #XMR can't wait for #ETN vs #XRP — WALLst (@ETNstylez) March 3, 2019 The launch of the mobile mining application has seemingly gotten a lot of people excited. CryptoMan976 confirms over 15,000 new signups were recorded since the Mobile World Congress 2019 event. With the total now climbing above $130,500, it seems things are looking relatively good for ETN in this regard. #ETN mobile miners up over 15k people since #MWC19 last week. Just wait for the M1 to get in the people's hands! pic.twitter.com/n3jI8N6Swr — CryptoMan976 (@CryptoMan976) March 3, 2019 Crypto Steem Man is one of those people who likes to accumulate large amounts of coins when the markets turn bearish. This approach can usually help bring down the average cost of one’s portfolio, although the potential profit waiting to be pocketed may not be too significant either. I've been accumulating ETN for over a year. Picked up more on this last dip. I didn't see if going lower than 150 Sats so had to go in. It actually didn't go lower than 160 and looks like we are back on the way up. Keep hodling#buythedips#ETN#kingofalts#tothemoon pic.twitter.com/iwfDSvIv31 — Crypto Steem Man (@CryptoSteemMan) March 3, 2019 While the Electroneum value seems to be content with this state of affairs, it seems unlikely no changes should be expected in the future. All of the developments behind the scenes pave the way for interesting price shifts at some point in the future. Reclaiming the $0.007 level will be very difficult right now, although nothing is impossible in the cryptocurrency industry these days. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. Image(s): Shutterstock.com The post Electroneum Price Remains Stable as Number of Mobile Miners Increases Sharply appeared first on NullTX.

a month ago

User of ETN in South Africa? Now become a customer of The Un...

User of ETN in South Africa? Now become a customer of The Unlimited. Top up in ETN and get double airtime and data… https://t.co/3pNHffZ7pR

a month ago

User of ETN in South Africa? Want to pay for your airtime an...

User of ETN in South Africa? Want to pay for your airtime and data with ETN? Become a customer of The Unlimited and… https://t.co/7UHQc8nq8v

a month ago

Want to promote ETN in your area? Head over to our ideas for...

Want to promote ETN in your area? Head over to our ideas for promotion category on our community forum to find out… https://t.co/veRiPJdFUd

a month ago

Users of ETN in South Africa? Want to pay for your airtime a...

Users of ETN in South Africa? Want to pay for your airtime and data with ETN? Become a customer of The Unlimited an… https://t.co/cLJ84AhqCo

a month ago

Calling all South African ETN users! We are now live with Th...

Calling all South African ETN users! We are now live with The Unlimited. Take advantage of their awesome ETN offer.… https://t.co/GCXAUhSxTY

a month ago

We love this fantastic new video from Sean Davis, he does a ...

We love this fantastic new video from Sean Davis, he does a great update all about the Electroneum M1, the Top Up b… https://t.co/sejVdaURtF

a month ago

"HTC, Electroneum, and Samsung have all announced new featur...

"HTC, Electroneum, and Samsung have all announced new features, new phones, or new partnerships that mark a clear p… https://t.co/3IjLFUTDn2

a month ago

If you live in South Africa and want to get more involved in...

If you live in South Africa and want to get more involved in the Electroneum community. Make sure you're signed up… https://t.co/bHd2L7qXSR

a month ago

Check out our new video with Richard from the Top Up Shop at...

Check out our new video with Richard from the Top Up Shop at #MWC19. Find out more about the Electroneum M1 and why… https://t.co/buN3TYWp6W

a month ago

We are now live in South Africa with The Unlimited. Top up i...

We are now live in South Africa with The Unlimited. Top up in ETN and get double airtime and data with The Unlimite… https://t.co/fxeYlsCbAV

a month ago

Check out this great new update from Richard at the Top Up S...

Check out this great new update from Richard at the Top Up Shop at #MWC19! Watch him explain more about the ETN eco… https://t.co/6YlzW7T8LV

a month ago

Calling all ETN users in South Africa. We're now live with T...

Calling all ETN users in South Africa. We're now live with The Unlimited. Top up in ETN and get double airtime and… https://t.co/UV1F6oRSA3

a month ago

Check out this awesome article from @Cointelegraph all about...

Check out this awesome article from @Cointelegraph all about the Electroneum M1, why don't you get over there and m… https://t.co/MzXlY4AQaV

a month ago

The reaction to the Electroneum M1 has been amazing. It's su...

The reaction to the Electroneum M1 has been amazing. It's such a compliment that Crypto Line News compared it's des… https://t.co/z798gfIdUn

a month ago

We are now live in South Africa with The Unlimited. Are you...

We are now live in South Africa with The Unlimited. Are you telling friends and family, are you promoting ETN in y… https://t.co/gOZa5Skwer

a month ago

"By partnering with mobile operators, Electroneum understand...

"By partnering with mobile operators, Electroneum understands both the requirements of their business and the facet… https://t.co/nPaOCJebJ8

a month ago

Spanish news site, Zona Movilidad, has written an amazing ar...

Spanish news site, Zona Movilidad, has written an amazing article on our new Electroneum M1 phone and why we made i… https://t.co/UBXIp3KVFz

a month ago

Electroneum (ETN) Launching $80 'M1' Android Smartphone with Built-In Miner

Electroneum (ETN) recently announced that it is preparing to release a new Android phone, called that M1, that is designed to deliver key features at a fraction of the cost of big brand smartphones like the iPhone or Galaxy S10. The M1 will cost $80 and will have a built in cryptocurrency miner capable of mining up to $3 worth of ETN every month. The cost of the phone and the ecosystem clearly shows ETN’s dedication to creating a digital payments ecosystem for the unbanked, as users don’t need a bank account to store, send and receive digital funds via their smartphones. (JF)

a month ago

Here’s a treat for you all! Live from #MWC19, Electroneum CE...

Here’s a treat for you all! Live from #MWC19, Electroneum CEO Richard Ells demonstrates an #IOT enabled candy machi… https://t.co/rfVPwLoxwU

a month ago

Out of the Blue (Electroneum Blue), we have launched the M1,...

Out of the Blue (Electroneum Blue), we have launched the M1, a beautifully affordable phone that pays you back.… https://t.co/xxCNboAnmC

a month ago

Reddit Co-Founder Believes Bitcoin Investors Should’ve Been Thinking Long-Term

The front page of the internet, also known as Reddit, is a social news aggregation site which has a booming community of active users who contribute to the site on a daily basis. The co-founder of Reddit, Alexis Ohanian has said that cryptocurrency investors “should have been thinking long term.” Ohanian is a long time believer in cryptocurrency and when the market started to plummet he called it a “painful thing.” At the end of last year, Bitcoin had plummeted 80 percent from where it stood in the previous year. Ohanian said that disappointed investors should have sought to earn in the long-term. The co-founder said, “I think that's just generally good advice for any kind of investing, but especially something so nascent as crypto.” When talking about the current state of the “crypto winter” but said that it will eventually prove to be beneficial “speculators have fled and the people who are now building on crypto are true believers...they’re actually building the infrastructure that it's going to take to really make this happen.” These comments were made when Ohanian sat down with the Editor in chief of Yahoo Finance, Andy Serwer. Serwer does a weekly interview series for Yahoo with leaders in entertainment, politics, business and so on. In the episode, Ohanian talked about the tech market which he says is “overlooked” and why potential regulations of social media make him concerned about the future. Ohanian co-founded the social network Reddit just weeks after he graduated from college. The site was an instant hit and it is one of the most popular destinations on the internet to go for people wanting news, memes and everything in between. When he was 23, Ohanian became a multi-millionaire when he and his partner sold the site to Conde Nast. He later co-founded a venture capital business called Initialised Capital that finds and develops software firms as well as Instacar and Coinbase. The conversation later went onto cryptocurrency which Ohanian said that even though the space gained a lot of hype but other big tech markets barely garnered any. Specifically, the multimillionaire was talking about services for the elderly. “We're seeing all this infrastructure being built now by millennials for boomers, who are a growing and growing portion of the population, who have the dollars to spend, and who are now tech literate enough.” Later in the interview, Ohanaina gave his thoughts on the US presidential race in 2020 and that there was one candidate who flew into his crosshairs. “I've been most intrigued by the fact that the Congresswoman from Hawaii, Tulsi Gabbard, has been all but overlooked by most of media. “If I have any lessons learned from watching social, particularly Reddit, but watching social during Trump's rise, during Obama's rise, it's that there are a lot of these signals you see online that bubble up.” He added that she is the first millennial presidential candidate, suggesting that there is potential for her victory in the race. It’s clear that cryptocurrency is a long game and that this industry is not right for short term investments, the markets aren’t ready for that just yet. It’s hard to justify investing in the long term, yes, it’s great for things like property, but when it comes to stock style investments, nobody wants to hold on for too long. Sadly, this is the case with crypto, but it doesn’t have to be a bad thing! Cryptocurrency is a long term investment because we are awaiting mainstream adoption, once this happens, your investment will bring you some healthy, long term returns! Bitcoin Adoption Every downturn, every bear market that the market has gone through, Bitcoin has always come out shining on the other side and drove the community to new levels. This bear market is a bit more aggressive than the ones that came before it and so we could be facing the end. But are we really? Throughout the start of Bitcoin from 2008-2011, there were a lot of people who wanted to blow up the world and now account for around less than five percent of overall wallet (these people are characterised as anarchists). The first wave established the first use case as a store of value and dominated the demand for Bitcoin by true holders. As reported by Finance Magnates, when the anarchist phase was over, libertarians entered the space “who wanted to save the world with BTC, and I estimate they now amount to about 30 percent of all wallets. They joined quickly and supercharged the growth of BTC between 2012-2016. The libertarians tried to make a use case for BTC as a payment service in addition to a store of value, and they successfully passed the baton to the millions of speculators who came from fiat land to crypto land seeking riches.” The next phase is global institutions which we expect to occur throughout 2019 which leaves us with the question of whether institutions are what is going to be cryptos saviour? According to Alex Mashinsky, he believes that because of the volatility and

a month ago

CME Bitcoin Futures See Record Volumes, Crucial Signal For Rising Institutional Demand

This week saw the highest ever volume for Bitcoin futures on the Chicago Mercantile Exchange as volume exceeded 18,000. The big signal is that institutional investors are paying attention as futures contracts get snapped up at an ever-increasing rate. Record BTC Contract Volumes on CME According to stats from the CME there were 18,338 on Wednesday, the highest figure ever recorded. This is equivalent to 91,690 Bitcoins or roughly $365 million at today’s prices. Source: CME Futures contracts enable speculators to bet on the prices rather than purchasing the physical assets themselves so these figures may be a little misleading. What they do indicate however is that there is a lot more interest in crypto futures now than ever before. When new products that offer physically settled contracts hit the market, they will be paying out in BTC which will drive massive momentum for crypto markets. Over the past year or so the anticipation of a crypto exchange traded fund (ETF) being launched has dominated the news. 2018 has been the year of regulation and cooling off which was only to be expected after the previous year of rampant FOMO and parabolic market action. This year will be different and many industry experts predict the launch of at least one institutional investment vehicle. Bakkt is the primary candidate but it has been in a holding pattern with a few others while US regulators finally wake up from their month-long imposed vacation. According to The Block European exchange giant, Eurex, is gearing up to launch crypto futures so the list of institutional offerings is growing rapidly. The derivatives exchange operated by Germany’s Deutsche Börse will be offering Bitcoin, Ethereum and XRP imminently according to the report. Exchange Traded Funds are The Future In addition to these future products, there is already one type of ETF that is actually traded through an ETN (exchange traded note) which allows investors to get direct exposure to Bitcoin prices. The Grayscale Bitcoin Trust (GBTC) bypasses the technicalities of buying and storing Bitcoin but still allows investors to get in on the action by buying shares that trade at around a thousandth of the price of BTC, so a few dollars instead of thousands. GBTC has been wildly popular with over $800 million already invested in the Bitcoin fund: 2/21/19 UPDATE: Holdings per share and net assets under management for our investment products Total AUM: $872.1 million$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/tzQxkd7ilX — Grayscale (@GrayscaleInvest) February 21, 2019 In addition to BTC are 8 other crypto assets but clearly, Bitcoin is the most popular. The fund eliminates the volatility of buying and owning Bitcoin directly which is something that institutions want, slow and steady wins the race. The outlook for 2019 is currently taking shape and the institutions are already involved. Buckle up and get ready for the ride! Image from Shutterstock The post CME Bitcoin Futures See Record Volumes, Crucial Signal For Rising Institutional Demand appeared first on NewsBTC.

a month ago

Electroneum Price Moves up as 200 Satoshi Remains the Primary Target

In the cryptocurrency world, it is always difficult to determine how markets will evolve. While the momentum is positive, most markets tend to follow the overall trend. With a bit of bearish pressure, most projects are declining rapidly. The Electroneum price, on the other hand, is trying to move up again and reclaim its spot in the market cap top 60. Electroneum Price is Inching up Again With a lot of bullish market momentum over the past few days, it is only normal there would be some sort of reprieve at some point. While that reprieve results in medium-sized losses for most of the altcoins, tokens, and assets on the market, some other projects will buck the trend. Electroneum appears to be one of those projects, as it is carving out some fresh gains despite overarching bearish momentum. To put this in perspective, it would appear the Electroneum price managed to gain 1.2% in USD value and 1% on Bitcoin. Because of these minor uptrends, the value per ETN has risen to $0.0072 once again. In terms of ETN/BTC, the ratio sits at 182 Satoshi. A push too 200 Satoshi would be rather bullish, albeit it seems unlikely to happen anytime soon. Twitter is abuzz with discussions pertaining to Electroneum, and seemingly for good reason. More specifically, it appears the mobile app - which introduced cloud mining a while ago - will get a new feature. Through that feature, users will be able to top up airtime or mobile data with ETN. An interesting concept, although it remains to be seen what this will entail exactly. Look what's coming people!! Go Update @electroneum app on play store/iOS store. Just imagine when you can top up Your Airtime/data with ETN. #Electroneum #ETN pic.twitter.com/OOlM4RgYuA — Coin Gyaan (@CoinGyaan) February 19, 2019 In terms of getting listed on a new exchange, the DynX Exchange voting is still ongoing at this time. Although it seems as if Electroneum has lost some ground in the vote itself, that situation can still be rectified. Nourdin believes ETN will make a comeback and beat its competitors with relative ease. A bit of an optimistic outlook, albeit one never knows what might happen. #electroneum will make a comeback like always. Just wait the finale hours to see the best community of this space. #etn — ⵣ Nourdin ⵣ (@Nourdin261084) February 20, 2019 When looking at the actual ETN price chart, a very interesting image becomes apparent. The ETNBTC chart looks as if there will be some serious resistance between now and 200 Satoshi. There is also no reason to expect any bullish outbreak right now, as slow and steady will win the race. Even so, ET will hit its stride eventually, either for better or worse. #ETNBTC @kucoincom 8h chart @ 183 SatsLooks like #ETN is forming a fulcrum bottom like pattern, MACD histogram above the 0 & building. 200 Sats will be serious resistance. Have fun, #Electroneum is a champion crypto. I like the slow build, a house needs good foundations. pic.twitter.com/O1gWVybrYF — Rágnár Ván Töndérsön (@Slipcatch) February 20, 2019 All of these signs point toward a minor push for Electroneum which may eventually result in sideways trading for a while. It is obvious all crypto markets need a breather right now, yet Electroneum is trying to push the pace in this regard. That is not necessarily a bad thing, but all traders and speculators need to keep their expectations in check first and foremost. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. Image(s): Shutterstock.com The post Electroneum Price Moves up as 200 Satoshi Remains the Primary Target appeared first on NullTX.

2 months ago

Could Bitcoin ETN’s Large Premium to BTC be a Sign of Institutional Buying?

Over the past year discussions of a Bitcoin ETF being approved by regulatory authorities in the US has dominated the news cycle and has even - on multiple occasions - impacted the markets. Many investors and analysts believe that the approval of a BTC ETF will lead to an influx of investors as it would place the cryptocurrency in front of all traditional equity investors. Although the status and potential effect of a Bitcoin ETF remains unknown, there already exists and exchange-traded product that allows investors to add some exposure to Bitcoin’s price through the form of an Exchange Traded Note (ETN). Bitcoin ETN Trades at Large Premium to BTC The Grayscale Bitcoin Trust (GBTC) is a popular ETN that allows traditional investors to gain some exposure to the daily price movements of Bitcoin without actually owning the underlying asset. Grayscale describes their product as “the first publicly quoted securities solely invested in and deriving value from the price of bitcoin” that allows investors to “gain exposure to the price movement of bitcoin through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping bitcoins.” Each share of GBTC trades at approximately 1/1000th of Bitcoin’s actual price and is currently trading at $4.82 per share. This means that GBTC is valuing one BTC at $4,820, which is significantly higher than Bitcoin’s current price of under $4,000. Thomas Lee, the co-founder of Fundstrat Global, pointed out this premium in a recent tweet, hypothesizing that GBTC’s premium to BTC’s net asset value (NAV) is a sign of institutional buying, as purchasing GBTC is easier than purchasing BTC through a cryptocurrency exchange for traditional investors. “CRYPTO: $GBTC premium to NAV creeping up to 36% on heels of $BTC surge to ~$4,000... Rise in premium is a sign of institutional net buying (easier to buy this ETN from @GrayscaleInvest than buy via a crypto exchange) ... another sign 2019 way better than 2018 for crypto,” he explained. CRYPTO: $GBTC premium to NAV creeping up to 36% on heels of $BTC surge to ~$4,000 Rise in premium is a sign of institutional net buying (easier to buy this ETN from ⁦@GrayscaleInvest⁩ than buy via a crypto exchange)... ...another sign 2019 way better than 2018 for crypto pic.twitter.com/hdFh8y3sY9 — Thomas Lee (@fundstrat) February 19, 2019 Although GBTC doesn’t entitle buyers to Bitcoin - the underlying asset it tracks - it does allow buyers to get in on some of its volatility in an easy to access fashion. Is Growing GBTC NAV Premium Actually The Result of Institutional Buying? On February 17th Bitcoin’s price surged after briefly dipping towards $3,600, and is now pushing up against $4,000, which has proven to be a level of resistance. BTC’s price has surged over the past couple of days. Historically, GBTC’s premium grows whenever BTC experiences price surges, and drops whenever Bitcoin’s price drops. With this being said, it appears that GBTC historically exaggerates Bitcoin’s sentiment shifts, which does not serve as strong support for Lee’s theory regarding the growing premium being the result of institutional buying. Furthermore, Lee’s assessment of GBTC’s current NAV premium is exaggerated, as Bloomberg notes that GBTC’s current premium is just under 19%, while its average 52-week premium is nearly 40%. Lee addressed this in response to a comment on his original post, noting that a 20% NAV premium does appear to be more accurate. Hmmm. Actually more favorable — Thomas Lee (@fundstrat) February 19, 2019 With that being said, although it is possible that institutions are trading the cryptocurrency via GBTC, there is little evidence of this and its current price premium is nothing extraordinary. At the time of writing, GBTC is trading up nearly 15% from its opening price, while BTC is only trading up 1.5% over a 24-hour trading period. Featured image from Shutterstock. The post Could Bitcoin ETN’s Large Premium to BTC be a Sign of Institutional Buying? appeared first on NewsBTC.

2 months ago


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