Dear Electroneum fans,
In this weekly segment I plan on covering the news and price action from the week, as well as what I believe we will be seeing in the following week. If you’re new to this site, I cover breaking news relating to electroneum and post other relevant content and analysis. Make sure to check back periodically for posts and follow me on StockTwits @electroneum or on Reddit at @electroneummedia. You can also share these posts with your friends on social media using the icons at the end of the article.
Enough blabbering–what a week! I don’t know where to start; the wallet release, the Effortel partnership, and the price being all over the board! We’ve seen a lot of action surrounding Electroneum, and that’s a good thing. It means that this cryptocurrency won’t be disappearing into the abyss of altcoins that currently populate the market.
1360 altcoins exist at the time of writing according to CoinMarketCap.
We’ve seen Electroneum rise to the rank of 44th in terms of market cap this week, which shows the amount of people behind this coin. It’s even surpassed one of my other favorites (Vertcoin) in market cap, and it’s stayed there.
The price action has been entertaining, to say the least. We went from a whopping 13 cents before dropping down as low as 5 cents after the wallet release.
At the time of writing, Electroneum is just now rising past 8 cents, showing strong recovery from the initial profit taking. Next week, I think we will be seeing some more consolidation and steady rises in price back up to where it was before the wallet release.
TL;DR, the partnership means Electroneum has big plans for their mobile miner, and they’re planning on widespread acceptance.
In terms of prediction, I think Electroneum will also announce another partnership similar to this weeks’, as they mentioned in their post that they had more announcements coming.
“At the time of writing this we have at least 4 MOUs (MEMORANDUM OF UNDERSTANDING) signed, and more in the pipeline, one of which is now ready for announcement… Effortel.” – Electroneum Facebook Post
What are your thoughts on this week’s news? Write your opinions and predictions in the comments below!
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