The price of Electroneum (ETN) has been on the rise over the past few hours, with the cryptocurrency getting listed on Huobi crypto exchange the primary reason for the surge in its value.
What is Electroneum?
Electroneum is a blockchain platform designed specially to work on mobile devices, with the aim of boosting digital payments across the globe.
Electroneum realized that there are over 1.7 billion in the world that don’t have access to banking services and the platform now enables anyone to store, send and receive digital funds via their smartphone, with no bank account required.
The adoption of the ETN coin is on the rise, with millions of people now using it to carry out everyday transactions, according to the developers.
Even though it is used on mobile devices, the cryptocurrency is useful to corporate bodies, retailers, and regular individuals. Transactions on Electroneum are usually fast as their digital payment ecosystem is one of the fastest in the crypto world.
Electroneum’s Community Welcomes Huobi Listing
On March 13, 2019, Huobi, one of the largest cryptocurrency exchanges in the world, announced that it had listed ETN on its platform. The crypto exchange stated that ETN deposits on their platform would be opened first, with the trading pairs of ETN/BTC and ETN/ETH to go live over the next few hours. Electroneum withdrawals would meanwhile be enabled on March 15th.
The Electroneum community was excited about the listing on Huobi cryptocurrency exchange as they expect an increase in liquidity. At this point, it is uncertain if that would happen. The listing has seen the price of ETN surge by more than 12% over the past 24 hours.
The worth of the cryptocurrency is now up and trading around $0.0064 or 166 satoshis. This is an improvement considering that it was trading at 144 satoshis a few days ago. Electroneum’s trading volume is still low, but if the cryptocurrency continues trading in the green zone, then the situation could change very soon.
Electroneum Introduces a Crypto-Mining Smartphone
Late last month, the UK-based Electroneum launched its crypto-mining smartphone during the MWC event held in Barcelona. The phone, M1, is the first mobile device in the world that allows people to mine cryptocurrencies.
According to Electroneum, the phone costs $80. However, it has minimal features considering it was just reconditioned to have crypto mining attributes. The phone comes with the cryptocurrency’s mining app, and a cloud mining technology, a feature that allows users to earn ETN coins via the app, even in the absence of internet access.
Electroneum didn’t divulge details regarding its partners on this project but stated that the phone has GSMA approval and it is also Google GMS certified, both of which are important for network operators to have across the globe.
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Hassan is a cryptocurrency and stock market writer and enthusiast. The financial world has become his primary interest, with movies and books being some of his favourite pastime activities. He is an investor in many blockchain projects including Bitcoin, Stellar Lumens, Cardano, VeChain, Gifto, and Cindicator. Hassan also writes for important outlets like Blokt.com