Electroneum (ETN) has made major gains lately and has managed to push into the top 50 on coin market cap. With its current momentum, it seems like it could make some even bigger gains going into the future. Today, it has displaced Metaverse (ETP) to take the 45th position. While it’s not a huge gain, it points to the growing momentum of Electroneum, as it slowly takes shape as one of the most valuable cryptocurrencies in the market. With its current momentum, Electroneum stands a good chance of becoming a top 10 crypto by market cap by the end of the year. There are some real solid fundamentals that make such a possibility highly likely within this quarter.
Firstly, Electroneum (ETN) has made significant strides in improving its appeal in the market. For instance, they have worked on regulatory compliance, which is essential not just to the growth of ETN, but cryptocurrencies in general. Electroneum has worked on this by becoming compliant to KYC. This means that the ENT blockchain now has a head start in terms of gaining adoption in the markets. That’s because going forward, Electroneum can and enter into partnerships all over the world without the risk of governments applying breaks to its partnership deals.
News about KYC compliance have created most of the positive momentum in ETN at the moment. This means that once the partnerships start coming in, Electroneum (ETN)’s position in the market will rise significantly. Actually, announcing a partnership at this point could easily push ETN into the top 10. That’s because ETN potential partnerships will be with telecom companies, mobile companies that have hundreds of millions of users.
In essence, unlike most blockchain project partnerships that are usually small-time in nature, ETN partnerships will be transformational. Gaining access to a 100 million user market with just a single partnership is a big deal. So big a deal that it could create FOMO that would easily push ETN into the top 10. To understand why this is possible, one just needs to look at how quickly ETN has gained, yet adoption is yet to gain traction.
Secondly, and hugely important is the fact that Electroneum has achieved so much, yet it is not even on the major exchanges. No one can discount the fact that the big exchanges do create massive pumps. If today, Binance announced that they were listing some obscure coin that not many people know about, the FOMO it would create would see such a coin gain by upwards of 50%. It has happened a number of times in the past. Now imagine how big of a deal it would be if they were to announce that they were listing a coin as fundamentally strong as Electroneum (ETN).
The excitement it would create in the market would see ETN, which is already bullish, gain by several hundred percentages. The best part is that this has a good chance of happening. Electroneum has achieved so much lately that it is now one of the most spoken about coins in crypto. It won’t take long before the big exchanges start looking into it. It is in their best interest to list it since it’s in high demand. This makes it highly liquid, and potentially profitable to any exchange that chooses to list it.