On August 2, 2024, at precisely 21:28 UTC, Electroneum (ETN) experienced a significant breakout, surging by 10.98% to reach a price of $0.0031. This notable price movement captured the attention of the cryptocurrency community, with various factors contributing to this surge. Electroneum, a Layer 1 EVMcompatible blockchain known for its rapid transaction speeds and low fees, has been making waves with its recent developments and strategic initiatives. Let's delve into the key drivers behind this impressive breakout. On August 2, 2024, Electroneum (ETN) experienced a significant breakout, with its price surging by 10.98% to reach $0.003146081297133572. This remarkable price movement can be attributed to several key developments within the Electroneum ecosystem, each contributing to the increased investor interest and market activity. Below, we delve into the primary reasons behind this breakout, supported by visual evidence to provide a comprehensive understanding of the factors at play.
Electroneum's MEXC Kickstarter campaign: Electroneum's integration with the MEXC Kickstarter, involving $MX votes and massive airdrops, catalyzed the price surge. The campaign not only increased visibility but also incentivized participation through substantial rewards, drawing in a larger investor base.
Web3 Developer Hackathon Update: The announcement of an upcoming Hackathon, designed to incentivize dapp development on Electroneum's blockchain, has spurred significant interest among developers. This initiative is expected to foster innovation and expand the utility of the Electroneum network, further enhancing its market position.
MEXC listing boosts Electroneum: The listing of Electroneum on MEXC, accompanied by a reward pool of 8 million tokens and 30,000 USDC, significantly increased investor interest. This new exchange listing not only improved liquidity but also validated Electroneum's growth and potential in the market.
Electroneum's recent developments, including its strategic partnerships, technical advancements, and community engagement initiatives, have collectively contributed to this breakout. As Electroneum continues to expand its ecosystem and enhance its platform capabilities, it is wellpositioned to maintain its upward trajectory and attract further investment interest. In summary, Electroneum's recent breakout is a testament to its strategic and technological advancements. The integration with MEXC Kickstarter, the upcoming Web3 Developer Hackathon, and the listing on MEXC have all played pivotal roles in driving investor interest and market confidence. As Electroneum continues to innovate and expand its ecosystem, it remains crucial for investors to conduct thorough research (DYOR) to navigate the complexities of the cryptocurrency market effectively.
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Explore the Core.
Electroneum is a Layer 1 EVM-compatible blockchain, catering to 4+ million users worldwide. The network boasts transaction speeds of just 5 seconds with instant finality, and potentially the market’s lowest smart contract fees. Powered by the Istanbul Byzantine Fault Tolerance (IBFT) consensus mechanism and supported by known validators - targeting universities and Web3 infrastructure companies - the network is incredibly fast, secure and energy efficient. For several years, ETN has provided the backbone for AnyTask.com, helping the platform take advantage of blockchain technology and deliver a fairer, more efficient experience for freelancers globally.
Spot the Main Event:
The electroneum, a Layer 1 EVM-compatible blockchain catering to 4+ million users worldwide, is coming to #MEXCKickstarter, viote with $MX to share massive airdrops. $ETN/USDT Trading: 2024-08-02 12:00 (UTC)
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Ajayi Johnweb developer
Explore the Core.
Electroneum: Bridging the Digital Divide Electroneum is a cryptocurrency platform primarily focused on addressing the financial inclusion gap, particularly in developing countries. It aims to provide a simple and accessible way for people to earn, spend, and send digital currency. Key Problems Electroneum is Solving Financial Exclusion: By offering a mobile-first platform and low transaction fees, Electroneum seeks to bring financial services to the unbanked and underbanked populations. Remittances: The platform aims to provide a cheaper and faster alternative to traditional remittance services, especially for those sending money to developing countries. Economic Empowerment: Electroneum strives to create economic opportunities by enabling individuals to earn cryptocurrency through various means, such as mobile gaming and microtasks. Innovative Use Cases Mobile-First Approach: Electroneum has focused on developing a user-friendly mobile app, making it accessible to people without traditional banking services. Micropayments: The platform supports small transactions, enabling users to make payments for goods and services easily and affordably. Cryptocurrency Education: Electroneum has made efforts to educate users about cryptocurrency and financial literacy, empowering them to make informed decisions. Mobile Gaming and Rewards: By integrating gaming and reward systems, Electroneum provides a fun and engaging way for users to earn cryptocurrency.
Spot the Main Event:
Web3 Developer Hackathon Update: Don't delay! We are going see a Hackathon later this year to encourage developers to use the Electroneum blockchain. But if you are a developer don't wait for it! All dapps developed from the launch of the EVM (March 2024) will be included in the voting for Hackathon Prizes! Get building! Let us know by DM when you've launched anything! Remember to use https://ankr.com/rpc/electroneum/ for your RPC endpoints! A GIANT THANK YOU to @ANKR for hosting our hugely successful live AMA yesterday, attended and listened to by over 1800 guests and developers and marking the start of an exciting period of new innovations and creations on Electroneum's blockchain!
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Abdullahi Saleh SaiduCute, funny and a little bit crazy!!!
Explore the Core.
Electroneum is a Layer 1 EVM-compatible blockchain, catering to 4+ million users worldwide. The network boasts transaction speeds of just 5 seconds with instant finality, and potentially the market’s lowest smart contract fees. Powered by the Istanbul Byzantine Fault Tolerance (IBFT) consensus mechanism and supported by known validators - targeting universities and Web3 infrastructure companies - the network is incredibly fast, secure and energy efficient. For several years, ETN has provided the backbone for AnyTask.com, helping the platform take advantage of blockchain technology and deliver a fairer, more efficient experience for freelancers globally.
Spot the Main Event:
Electroneum Update: We are going see a Hackathon later this year to encourage developers to use the Electroneum blockchain. But if you are a developer don't wait for it! All dapps developed from the launch of the EVM (March 2024) will be included in the voting for Hackathon Prizes. A GIANT THANK YOU to ANKR for hosting the hugely successful live AMA yesterday, attended and listened to by over 1800 guests and developers and marking the start of an exciting period of new innovations and creations on Electroneum's blockchain.
📸 Show Us What You Found:
Abdulazeez MuhammadExplore the Core.
Electroneum is a Layer 1 EVM-compatible blockchain designed to empower users, particularly the unbanked, by providing accessible digital financial services. It features a unique AnyTask™ platform that allows users to earn ETN without needing a bank account. The network boasts fast transaction speeds of 5 seconds and low fees, utilizing the Istanbul Byzantine Fault Tolerance (IBFT) consensus mechanism. Electroneum emphasizes security with its AML/KYC compliance and has adopted a Moderated Blockchain to prevent 51% attacks, making it a transparent and energy-efficient option in the cryptocurrency space .
Spot the Main Event:
Today 2nd of August,2024. Electroneum token got listed on MEXC exchange, one of the to exchange in the crypto space. This new listing boosts the project's integrity and also it shows the project have plans of development of their ecosystem. This compelled investors to buy in.
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Esther WonderOwojori
Explore the Core.
Electroneum is a Layer 1 EVM-compatible blockchain, catering to 4+ million users worldwide. The network boasts transaction speeds of just 5 seconds with instant finality, and potentially the market’s lowest smart contract fees. Powered by the Istanbul Byzantine Fault Tolerance (IBFT) consensus mechanism and supported by known validators - targeting universities and Web3 infrastructure companies - the network is incredibly fast, secure and energy efficient. For several years, ETN has provided the backbone for AnyTask.com, helping the platform take advantage of blockchain technology and deliver a fairer, more efficient experience for freelancers globally.
Spot the Main Event:
The main information that leads to the price change is linked to the listing on Mexc that the project had today
📸 Show Us What You Found:
Adekanmi OwojoriFreelancer , Copy Writer and Crypto lover
Explore the Core.
Electroneum is a Layer 1 EVM-compatible blockchain, catering to 4+ million users worldwide. The network boasts transaction speeds of just 5 seconds with instant finality, and potentially the market’s lowest smart contract fees. Powered by the Istanbul Byzantine Fault Tolerance (IBFT) consensus mechanism and supported by known validators - targeting universities and Web3 infrastructure companies - the network is incredibly fast, secure and energy efficient. For several years, ETN has provided the backbone for AnyTask.com, helping the platform take advantage of blockchain technology and deliver a fairer, more efficient experience for freelancers globally.
Spot the Main Event:
The price pump is traced to their recent listing on MEXC exchanges which come with insight pool rewards of 8 million plus of the token and 30,000 USDC. This information will trigger more investors to invest in the token and also benefit from the pool.
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Overview
Electroneum is a Layer 1 EVMcompatible blockchain designed to provide fast, secure, and energyefficient digital financial services. With a mission to bridge the financial inclusion gap, particularly in developing countries, Electroneum offers a mobilefirst platform that enables users to earn, spend, and send digital currency. The project stands out with its ultrafast transaction speeds, low smart contract fees, and robust security measures.
Key Features
Transaction Speed: 5second transaction speeds with instant finality. Low Fees: Potentially the market’s lowest smart contract fees. Consensus Mechanism: Utilizes Istanbul Byzantine Fault Tolerance (IBFT) for enhanced security and efficiency. Validator Support: Supported by known validators, including universities and Web3 infrastructure companies. AnyTask.com Integration: Provides the backbone for AnyTask.com, a platform that offers a fairer, more efficient experience for freelancers. Financial Inclusion: Focuses on providing financial services to the unbanked and underbanked populations. MobileFirst Approach: Userfriendly mobile app for easy access to financial services. Micropayments: Supports small transactions for goods and services. Educational Initiatives: Promotes financial literacy and cryptocurrency education.
Recent Developments
New Exchange Listings: Listed on MEXC Global as of August 2, 2023. Chainspect Integration: Now live on Chainspect, a blockchain analytics platform. Hackathon Announcement: Upcoming Web3 Developer Hackathon to encourage dApp development on the Electroneum blockchain. AMA Session: Recent AMA session in collaboration with ANKR, revealing exciting updates including the Hackathon.
Market Impact
Increased Accessibility: New exchange listings and integrations make ETN more accessible, potentially driving up demand. User Adoption: The focus on financial inclusion and mobilefirst solutions could lead to higher user adoption, especially in developing countries. Technological Advancements: Continuous improvements in speed, security, and scalability enhance the platform’s market position.
Risks and Opportunities
Challenges: No significant security breaches reported, but the project must maintain its security and efficiency to stay competitive. Opportunities: The innovative approach to DeFi and focus on financial inclusion present significant growth opportunities. The upcoming Hackathon could spur further development and adoption.
Community Engagement
Community Size: Over 4 million users worldwide. Activity Levels: Active discussions on Telegram and Twitter, though no Discord presence. Engagement Strategies: Regular updates, AMAs, and upcoming events like the Hackathon keep the community engaged.
Conclusion
Electroneum presents a compelling investment opportunity with its focus on financial inclusion, fast transaction speeds, and low fees. Recent developments like new exchange listings and the upcoming Hackathon indicate strong growth potential. Traders should consider the project's innovative approach and robust community support when making investment decisions.
This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.