Electroneum (ETN) is up more than 160% over the last seven days. Now, pump and dumps are common in crypto, but there are signs this is not the case with ETN. First, ETN is regulatory compliant. Electroneum has KYC, which is a baseline for regulatory compliance all across the world. This gives Electroneum an edge in the market, especially in securing partnerships with mobile operators all across the world. As per the Electroneum website, they have the potential to secure partnerships with mobile operators that have up to 100 million users.
ETN considers itself a mobile cryptocurrency with easy adoption characterisitcs. CEO Richard Ellis added:
“We make it easy for anyone with a smartphone to earn, accept and spend cryptocurrency. Our route to market is through partnerships with global mobile network operators. We have signed deals in place to access over 100M smartphone users and many more in the pipeline.”
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At the moment, Electroneum (ETN) has a market capitalization of $144 million. That’s a relatively low market when compared to its core fundamentals. There are lots of cryptos in the market that don’t have the intrinsic value of Electroneum, but are worth much more in the market. If ETN gets listed on one of the larger exchanges, it could easily climb to a $1.
“It’s only our price that keeps us from the CoinMarketCap top 20 list, but we are focused on delivering a solid product with the largest number of real users in any cryptocurrency in the world.”
Furthermore, the recent pop in price might be related to a bug fix. The project patched up the “burning bug” inherited from Monero (XMR). It allows a malicious actor to fund an exchange balance multiple times, so the platform ends up owning invalid coins marked for attempted double spending. In the meantime, the exchange balance could be traded for other assets, leaving the operator to shoulder the losses. So far, there has been no report of someone managing to exploit the bug for Electroneum or Monero.