Electroneum (ETN) has proven itself to be a top performer in October, with cumulative gains of over 300%. With all the positive news surrounding it at the moment, chances are that it could extend its October gains into November by an even bigger margin. That’s because November is the month when a number of what the ETN community has been expecting comes to fruition. Here are some of the factors that will play a huge role in pushing up ETC in November, relative to the rest of the market.
Liquid ETN/EUR pairing – November 5th
Yesterday, Liquid, one of the world’s largest exchanges announced that it will start pairing ETN to the Euro as from November 5th. This is a big deal considering that fiat pairings are part of what will open up crypto space to mass adoption. That’s because it will in the long-run stabilize crypto prices, through increased liquidity.
It’s even more of a big deal for Electroneum, which is going for the mass market, as an instant payments platform. Once ETN/EUR pair opens, the excitement it will create in the market, coupled with increased trading volumes from more people taking advantage of fiat buying convenience, will be a big boost to the rice of ETN in November. Electroneum already has a strong bullish sentiment, and the opening of a new avenue for easy access, could see its price pump by a huge margin all through November and beyond.
KYC – November 12th
Starting on November 12th, Electroneum users will be required to provide some identification information for all transactions on the Electroneum online wallet. Level 1 KYC is already in place. It is level 2 and level 3 KYC that will be introduced, as an added form of identification.
The actualization of KYC will give Electroneum the leverage to partner with major organizations in Fintech and the telecoms market. Since partnership are part of the move towards mass adoption, it is clear that the ETN team has scored big, and price action is already signaling it. Going by the sentiment in the ETN community, the unveiling of KYC could push up ETN a couple of notches higher percentagewise.
First instant payments software is live
The mass adoption that the ETN community has been waiting for is now taking shape. This follows the launch of the ETN instant payment software. The software dubbed ETNCommerce will make it easy for retailers to start accepting cryptocurrencies as a form of payment. It is free and easy to integrate, and can be listed alongside other payment methods such as PayPal on ecommerce platforms. With its ease of integration and the growing interest that society is taking in cryptocurrencies, ETNCommerce could see widespread adoption within a very short time. If merchants start adopting in November, ETN could see a huge spike in price, one that could push this crypto several notches higher on CoinMarketCap, backed by the other factors like the introduction of KYC.
A combination of the above factors could see ETN rise substantially in November and all the way into 2019.