In the 2nd half of last year, Electroneum (ETN) witnessed a rally. That rally has fizzled out. It has almost a given up all its skin since then. Electroneum (ETN) came on the radar of the investors once it announced that it is one of the very few KYC complaint cryptocurrencies. With the authorities and governments all over the world acting against anonymous and opaque cryptocurrencies, this was huge for Electroneum (ETN). The question which remains is whether it warranted such a rally.
Was Electroneum (ETN) rally ahead of its fundamentals?
The fundamentals of Electroneum (ETN) are strong. It is trying to enable users to spend cryptocurrencies directly through their mobile phones. Moreover, since it is KYC complaint, it is gaining more traction. The rally in Electroneum (ETN) was far ahead of its fundamentals. That is why, in the past one year, Electroneum (ETN) has been consistently falling. Electroneum (ETN) needs to increase its user base significantly to warrant the rally.
Recently, Electroneum (ETN) launched its cryptocurrency mining app on iOS. The app is now available on iOS as well as android. The user reviews have been excellent, and the response from the cryptocurrency community is also positive. However, unless and until the cryptocurrency user base does not increase significantly, Electroneum (ETN) might not experience another rally. It might rise some more due to the general market trend, but it will not grow significantly.