Even though all of the major cryptocurrencies are dipping into the red, there are always a few projects bucking the trend. Electroneum is going on a tear once again while other markets bleed value. Although the current gain might not seem spectacular, the overall uptrend throughout late 2018 cannot be overlooked.
Electroneum Price Goes on the Rise
It is always interesting to see how different cryptocurrencies behave under the current circumstances. For Bitcoin and the top altcoins, things are not looking good and there is no immediate improvement in sight. Further down the market cap rankings, the momentum seems to turn bullish, as traders still want to make good money regardless of current market trends.
In the Electroneum price department, there is an interesting 5% gain in the USD department. Combined with a 6.5% gain over Bitcoin, it is safe to say speculators are turning bullish on this altcoin once again. Even though ETN doesn’t benefit from a high trading volume, there is nothing but positive momentum to note where this altcoin is concerned.
The reason for this current excitement is not difficult to find. Electroneum COO Jurgita Rhodes will speak during the Paris Blockchain Day event later today. Although it remains unclear what one can expect from this talk exactly, it will put Electroneum front and center in the blockchain world for a brief time. This type of marketing and appeal can be invaluable for smaller-cap altcoins like ETN.
The community also seems quite impressed with a recent video highlighting the potential of Electroneum to date and in the future. It is evident this altcoin takes its current plan of action incredibly seriously, which is no unnecessary luxury in the world of cryptocurrency. Another interesting marketing attempt for ETN, although its impact is difficult to gauge right now.
Traders are quite pleased with the current ETN momentum, for rather obvious reasons. Ramon Escalara is seemingly unable to contain his excitement, as he has been telling people to buy ETN for three weeks now. It seems that prediction came true in the end, as ETN has noted some very strong growth over the past few weeks. If this trend keeps up, surpassing the $200m market cap level should be relatively easy.
As is always the case, altcoins stand or fall based on their trading volume. For Electroneum, the current volume is anything but impressive, yet it seems sufficient to provide support for this latest uptrend at this stage. A small bump in volume can push the price over $0.025 before the day is over. A remarkable trend, especially when considering how all major cryptocurrencies are struggling all across the board.