It was to be expected most of the top cryptocurrency markets would turn bearish rather soon. After several days of positive momentum, it is evident a correction needs to kick in sooner or later.  For the time being, most setbacks are kept to a minimum. The Electroneum price, however, is giving up ground at an accelerating pace all of a sudden.

Electroneum Price Hits a Roadblock

Despite some very interesting developments behind the scenes, it would appear Electroneum isn’t necessarily capable of sustaining its value right now. This is primarily because Bitcoin has turned rather bearish again, which usually triggers an industry-wide panic where altcoins, tokens, and digital assets are concerned. Electroneum has seemingly gotten caught up in the craze right now, which would explain the most recent losses.

Over the past 24 hours, it would appear the Electroneum price has dropped by 4% in USD value and gave up 3% in BTC value. As such, one ETN is valued at $0.0069, which means control over the $0.007 level has been lost. If the 190 Satoshi threshold holds, however, there is no reason to be overly concerned as of yet. This appears to be a temporary setback based on Bitcoin’s momentum first and foremost.

The big news of the day is how Electroneum’s Android application now supports cloud mining as well. Although iOS users have been able to access this functionality for some time now, it would appear Android users will be able to get in on the action as well. A pretty big development, assuming users are willing to complete the mandatory KYC verification.

Good news Android fans! Cloud mining is now available to you. Download the Electroneum app and get access today:

— electroneum (@electroneum) February 11, 2019

So far, the initial feedback regarding the Android release has been pretty positive. It works exactly the same as its iOS counterpart, with users expecting to receive a payout when their balance surpasses 100 ETN. As Android users can now access this functionality too, the ecosystem will undoubtedly continue to grow at a pretty steady pace.

#Android #ETN cloud Miner..

— Sumnath Sharma (@SharmaSumnath) February 12, 2019

For those looking to give the gift of Electroneum checking out the ETN Gift Cards platform might be worth a try. Although one should always do their own research prior to dealing with these platforms, it is evident more efforts are launched to bring ETN to the masses. While it might not necessarily be the most successful venture at this time, any effort should be applauded.

Wish you could give Electroneum as a gift? You can now!
We use the @electroneum vendor software at If your not familiar with it give, it a try!
#ETN #Electroneum #blockchain #Crypto

— etngiftcards (@etngiftcards) February 11, 2019

All things considered, the Electroneum developments and its current market value do not necessarily correlate. The launch of Android-based cloud mining is a pretty big deal. However, the bearish pressure affecting Bitcoin and other top markets will cause some problems for smaller cap altcoins like ETN. Even so, it seems likely the losses will not get out of hand too much, and this should only pose a minor setback.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.


The post Electroneum Price Turns Bearish Despite Android Cloud Mining Launch appeared first on The Merkle Hash.

You may be interested

shares7 views

ConsenSys-Backed Rhombus Reveals New Products for Ethereum Developers

Brian Evans - Feb 17, 2019

Connecting blockchain with real-world data, Consensys-backed ethereum startup Rhombus announces exclusive new tools for developers at hackathon ETHDenver.

shares9 views

The $232 Million ICO Debacle Continues as Tezos Community Opposes Class Action Lawsuit

Brian Evans - Feb 17, 2019

Tim Draper-endorsed blockchain Tezos is the subject of a consolidated class action lawsuit brought by unsavory individuals. A group of Tezos community members believes the lawsuit is…

shares10 views

GAS Price Gains 40% yet no one can Explain why

Brian Evans - Feb 17, 2019

Weekends often result in unusual phenomena where cryptocurrency trading is concerned. Several markets have risen by over 30% in value today, even though there is zero reason…

Most from this category

%d bloggers like this: