It has been a big month in the world of cryptocurrency and blockchain technologies in general. Bitcoin (BTC) is celebrating its tenth anniversary since the release of Satoshi’s whitepaper that kicked off the whole cryptocurrency business today. Electroneum on the other hand is celebrating its first anniversary as well as the release of the first KYC compliant cryptocurrency in the world. Finally, Coinbase announced the addition of hundreds of crypto coins on the exchange in the near future.
Electroneum breaks into the top 50 largest cryptos
Electroneum (ETN) has been one of the most sought after coins in the last few weeks after a boost in price earlier in the month. Notwithstanding, ETN crossed the top 100 and top 50 mark in terms of market capitalization in less than 3 months placing it 46th at its ATH position. The market capitalization has since dropped to $146,437,671 USD, placing the coin 52nd on the charts.
Coinbase set to list ETN in near future
The latest news from the Coinbase cryptocurrency exchange of its Series E funding that saw an additional $300 million USD in investment added to the exchange. The funding was raised in an equity round led by Tiger Global Management, with participation from Y Combinator Continuity, Wellington Management, Andreessen Horowitz and Polychain among others. This latest move will see addition of hundreds of currencies on the site after having less than 10 coins since its advent.
Advantages of the Coinbase listing
As the FOMO around coins gaining listing on Coinbase starts to die out one of the cryptocurrencies will be set for massive adoption once listed. Electroneum (ETN), the first KYC compliant cryptocurrency is on to be one of the top coins on the exchange. The increase in the number of cryptocurrencies on Coinbase comes at a time the exchange is planning on opening up more markets around the world. The diversification to more cryptocurrency friendly nations will allow more participation on the exchange through crypto/crypto trades.
“ETN will get addition to the $8Billion dollar, Coinbase cryptocurrency exchange as one of the hundreds of coins set to be added.”
However, with the main market base of Coinbase still in the United States and Europe and purchases using fiat being the main selling point of the exchange, Electroneum will be the choice to go to as KYC compliance standards must be met for purchase.
Electroneum (ETN) Price analysis – October 2018
Electroneum (ETN) currently trades at $0.017784 USD, representing a 24 hour change of 1.25% in the positive. The coin has dropped slightly from $0.02071 USD on October 1st in a month that has been the most volatile for ETN since the crypto boom at the end of 2017.
The coin is still aiming to reach the top 10 crypto coins in the near future with the roll out of the KYC compliance registration expected to kick off in November. As the world celebrates Bitcoin’s tenth birthday, investors should also keep their eye on Electroneum, the first mobile cryptocurrency.