Electroneum Price Prediction and Analysis: +5% despite red market! Upcoming v2.0 Network Upgrade. Sunday, May 27
Bitcoin's influence on the market
BTC is on its way down, as it currently struggles to stay even in the range of $7500. It is bringing the rest of the cryptomarket down with itself. You can read a full Bitcoin Price Analysis, influential news overview and price prediction in this TokenTops article.
Despite the whole market experiencing currently decrease in value, few cryptocurrencies managed to gain during this time. Electroneum's price got +5.61% in last 24 hours.
Network Upgrade v2.0
The biggest upcoming event is the network upgrade, which is scheduled for 30th May 2018. The upgrade is "aimed at increasing transaction speed and minimizing transaction size, in preparation for mass adoption and an exponential increase in global transactional volume." With main features including implementation of ASIC resistance and increased base fee from 0.01 to 0.1ETN. A successful blockchain update can significantly affect coins value.
It's worth noting that Electroneum has filled a patent. The title in the documentation states "Hybrid blockchain transaction system", which may be connected with the special solution which enables very fast transactions.
Featured on BBC
Electroneum has been mentioned in a BBC documentary on "Magical Money", which discussed ICOs and cryptocurrencies. This can give a major public exposure to the project, as they've talked about how ETN could gain million of users.
ETN Price Analysis
With the first look at the chart, one can notice that it doesn't follow the path of other cryptocurrencies, which are mainly affected by Bitcoin's price movement. While the rest of the market is going down, ETN shows a slight uptrend. There has been a notable price spike from $0.0217 to $0.0236. Currently, ETN is trading at $0.023.
ETN/USD Price Chart, Sunday May 27:
The successful network update has a great chance of affecting the value in a positive way. At the beginning of May, the price was able to hit highs of even $0.036 and this is a goal which can be achieved with a successful upgrade despite the red market. When Bitcoin solves its problems and will set off to the higher ranges, it will also bring other coins up. Therefore, prices around or little above $0.05 could be easily achievable.
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