Electroneum (ETN) has risen substantially on a 3 month basis, however, the performance of Electroneum (ETN) in the past one month, has been consistently taking a downward slope and well. The last high price it made was $ .27, 40 days ago. Since that time, it has been going downwards.
It was trading at a level of $ .27 on September 28, it fell all the way to $ .16 today. Meaning that, in a matter of just 40 days, it has fallen by 40%. The long-term investors in Electroneum (ETH) are a somewhat worried about this fall because though most of the other cryptocurrencies and Altcoins are trading in the red also when you compare their prices as at 40 days ago but only few of them have actually seen such a crash.
Electroneum (ETN) had announced earlier that it is one of the 1st cryptocurrencies to become KYC complaint, this is believed to be one of the main reasons why it was experiencing such a rally. As a result of the announcement, the excitement around Electroneum (ETN) was consistently increasing. Clearly from the volumes, however, the adoption of Electroneum (ETN) has barely increased.
The volumes were around a peak of $ 10 million daily. Presently, the volumes are around $ 1.6 million in the past 36 hours. This is an indication of the fact that ever since then, there has been a considerable reduction in the interest in Electroneum (ETN). Once this happens, those who have invested in Electroneum at the higher levels will be in a tight corner. .
Although taking a look at the rise of Electroneum (ETN) in the past 3 months will show that it has risen from $ 0.008 to $ .16 currently, therefore those who invested 3 months back are still making a substantial amount of money while those investors who have invested at the peak are likely to be stuck.
Investors will have to be on the lookout on whether it is able to retain those levels or whether it will continue on its downward trend. If indeed, there is a continuous descend, the volumes are likely to decrease a lot more as the investors who are stuck at the higher levels will find it impossible to liquidate their positions.
More so, there wouldn’t be any new interest from the investors or traders after observing, in 40 days such a substantial wealth crash.
Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.
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