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Electroneum (ETN) Price Breaking Out to Multi-Month Highs

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Electroneum momentum

Unbelievably, Electroneum (ETN) is still on the run.

The coin is up another 31% this morning to $0.243 and shows no signs of stopping.  Just in the last six days, it’s market cap has soared from $53.1 million to $196 million.

And there are no clear signs the momentum will stop.

Now, since September 2018, its prices has popped from $0.005, breaking well above its 50-day. From here, the coin could be on its way to a May 2018 high of $0.363.

Why all the Momentum?

There are many reasons for ETN to push higher.

One, after inhering a fatal “Burning Bug” from Monero (XMR), the team patched the issue.  A bug like this one allows a person to fund an exchange balance multiple times.  Two, the ETN coin is compliant with regulations.  By remaining in compliance, it builds institutional trust.

Three, ETN’s KYC allows for stronger partnerships with global operators around the world.

In fact, the team’s upcoming KYC (Know Your Customer) feature could also be attractive to global telecom companies, too.  In fact, telecoms could potentially benefit by integrating ETN into their systems.  By doing so, telecom customers could make instant payments by phone.

Patent Pending Technology that could Transform the World

Electroneum has patent-pending technology that could allow for instant crypto payments.

According to Bitcoinist, “Electroneum (ETN) has a hybrid model, based on a centralized app combined with a decentralized blockchain. Because of this, unlike other cryptocurrencies, it is now able to instantly confirm payments.”

“Any vendor that accepts payments in ETN will be able to see instantaneously that their customer has the funds available, and that the funds are being transferred through the blockchain. The transaction will be verified instantly, with Electroneum internally ring-fencing the funds to prevent double spending.  All in all, the transaction will be completed far quicker than any ordinary credit card transaction. This opens up incredible new opportunities for the coin to be used in real life.”

 

 

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