While most of the top markets suffer from minor bearish pressure, it seems that doesn’t necessarily affect all of the altcoins on the market. Whereas Bitcoin is struggling a bit across the board, the Electroneum price seems poised to bounce back strongly. While a minor USD loss can still be noted, it seems there is a small uptrend forming in ETN/BTC.
Electroneum Price Holds its own Quite Well
Under the current market circumstances, one would expect all currencies, tokens, and assets that are not Bitcoin to bleed value all over the place. Thankfully, the cryptocurrency ecosystem has matured quite a bit in recent years, meaning not all altcoins will collapse when Bitcoin loses 0.2%. In the case of Electroneum, the current momentum isn’t looking half bad. In fact, it somewhat resembles the current Dogecoin price trend.
Over the past few hours, there has been some minor bullish momentum forming where Electroneum is concerned. Although offsetting the USD losses is still difficult, it would appear the Electroneum price is gaining slightly on Bitcoin. A 0.2% increase is not something to get overly excited about just yet, but it is better than most other altcoins on the market today. For now, the 180 Satoshi level acts as support. That should, in turn, keep the price above $0.0066 for a while as well.
On social idea, the big news of the week so far is how ETN has been listed on another exchange. Coinexmarket, based in the United Kingdom, has officially confirmed Electroneum deposits are available and trading has gone live yesterday afternoon. That in itself is a big development, as ETN isn’t listed on too many exchanges right now. The overall liquidity of Coinexmarket remains to be determined, as it might not necessarily be a major player in the future.
Hello members new currency listed on coinexmarket Happy trading
follow us on : https://t.co/wZ82hyeYQF @electroneum @coinexmarket #listing #crypto #cryptocurrency #exchange pic.twitter.com/ikfDcSrPB3
— coinexmarket (@coinexmarket) February 13, 2019
There is also the ongoing vote on DynX which features Electroneum as one of the available options. For now, it seems Reddcoin has taken the lead in terms of getting listed as a base pair on this platform, although that situation is still developing at this time. Electroneum is not that far behind, although the RDD community will not necessarily let this opportunity slip by without a fight.
We need 5% more so every #electronians #ETN #Electroneum fan pls vote #vote & share with friends #dynx we need to beat #reddcoin we are #fintech #blockchain hybric and going to #mwc #mwc2019 #mwc19 to show what we done in last 15 months VOTE HERE & join us https://t.co/1Cdc8AVCA0 pic.twitter.com/dBjdGTcZHG
— Mr.CryptoCZ (@cechv2) February 14, 2019
Last but not least, the ETN community is counting down to Mobile World Congress 2019. Considering how the Electroneum team will make its presence known at this event, there has been some speculation as to which announcements the community can expect. So far, nothing has been officially confirmed in regards to potential announcements, but there is some genuine excitement brewing among community members.
— plankton…. (@manxcat74) February 14, 2019
All things considered, it remains a bit unclear where the ETN price will head over the coming hours. Although it seems remarkably stable at this point, there is no guarantee that situation will remain in place for very long. With its very weak overall trading volume, it seems unlikely any major pushes should be expected. This also means a minimum amount of bearish pressure can send the market in a negative spiral.
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.
The post Electroneum Price Shows Stability as ETN/BTC Ratio Improves Slightly appeared first on The Merkle Hash.