Electroneum (ETN) fundamental analysis and price predictions

Electroneum (ETN) is one of the first payment coins that have stood the test of time.

The coin’s designed to be used as a mobile payment digital currency built on its own private blockchain.

In this post, I would be sharing with you everything you need to know about Electroneum (ETN) and what I think the price of ETN could be in the next few years ahead.

Electroenum fast facts

  • Electroneum was launched via an ICO on September 14, 2017.
  • ETN has a maximum supply of 21 billion
  • Electroneum was designed for mass adoption and to serve, the over 2.2 billion mobile phone users globally.
  • You can top up your mobile phone data and airtime, settle utility bills, and pay for everyday goods and services, using ETN via the Electroneum mobile App.
  • The Electroneum mobile App enables you to mine ETN right from your mobile phone.
  • Electroneum uses a private and permissioned blockchain. Transactions on its network are not publicly visible except to the transacting parties.
  • There are over 101,500 transactions per month on the Electroneum blockchain.
  • Electroneum owns a number of other projects such as ETN Everywhere, AnyTask, Task School, ETN Donate, and ETN App. All of which are aimed at enhancing the use case, utility, and mass adoption of the ETN coin.

What is Electroneum (ETN)?

Electroneum (ETN) is a payment coin built on its own custom, private and permissioned blockchain. It was founded by Richard Ells and launched via an initial coin offering (ICO) on September 14, 2017.

The project was developed and is being managed by Electroneum Ltd, a United Kingdom-based company incorporate in July 2017.

The Electroneum (ETN) team

Unlike most blockchain projects, the Electroneum team are not anonymous.

In fact, the project is being developed and managed by a duly registered, fully compliant, British company called Electroneum Ltd led by Richard Ells (founder and CEO).

Richard is known for his track record of building successful digital businesses. Prior to starting Electroneum, Richard founded SiteWizard, a digital agency company and Retortal, a social scheduling platform in 1996 and 2012 respectively.

Other members of the Electroneum core team are Nick Cook (Head of Operations), Chris Harrison (Head of Blockchain), Cathy Jenkins (Head of Marketing), Nigel Pooley (Head of Business Development), Chris Norris (Head of Corporate Relations).

Electroneum core products and features

ETN is a mobile and payment cryptocurrency that’s revolutionising cross border transfers. Anyone can send ETN to anywhere in the world, at virtually zero cost.

The project has developed its ecosystem with unique products and features to enhance the utility and value of the ETN coin.

The products and features include but are not limited to:

Let’s discuss each of the above core products and features below.

1. ETN Everywhere

ETN Everywhere is a self-listing global directory of businesses or merchants that accepts the ETN coin as payments for their goods and services.

The platform allows local merchants and e-commerce businesses that accept ETN as payment to add themselves to the merchant directory where users looking for where to spend their ETN can discover them.

Thus ETN Everywhere helps merchants attract new customers and grow their revenue while also helping ETN holders and users find ways and places to spend their coins.

As of today (July 22, 2021), there are a total of 2,234 merchants from 175 different countries listed on ETN Everywhere.

2. AnyTask

AnyTask is a digital freelance marketplace where sellers can offer their professional freelance services and earn ETN.

Buyers on the platform can purchase tasks for as low as $1 and pay with their bank cards. The money is then used to purchase ETN on the platform and paid to the seller.

Thus enabling anyone, from anywhere in the world, especially in emerging economies, to make money online by selling their skills even without a bank account.

3. ETN Donate

The ETN Donate platform empowers the crypto community to make vital donations to selected NGOs and charities that are helping to make a difference around the world.

Charities and NGOs who are interested in being listed on the platform to benefit from users ETN donations can apply for consideration here.

Currently, there are about 6 different charities one can donate to on the platform.

As of today, a total of 326, 940 ETN has been donated to various charities on the ETN Donate platform.

4. ETN App

All of Electroneum’s products and services are wrapped into the ETN App.

You can easily login and connect to all Electronbeum platforms such as AnyTask directly from your ETN App without having to create separate login credentials.

Everything there is to be done with ETN can be done via the Electroneum App.

You can pay merchants via the app, store your ETN securely, and convert your ETN to any of the supported 40 different national currencies seamlessly.

The App is available on Play Store and App Store and requires KYC verification.

5. Electroneum M1 smartphone.

The Electroneum M1 budget android smartphone is designed for people in emerging economies.

The phone comes with 4G connectivity, Dual SIM cards, 8GB internal storage capacity, front and rear-facing cameras, etc. at a price that’s less than $100.

6. Private and permissioned blockchain

Electroneum started off as a permissionless blockchain network and anyone could mine ETN until 2019 when it was forced to adopt a permissioned network due to the selfish goals of its miners.

The project claims its thousands of miners had no interest in the sustainability of the project and only simply mined the blockchain to profit from the ETN block rewards.

Therefore, in 2019 the company upgraded its blockchain to use a Proof of Responsibility (PoR) model where it manually selects and authenticates its validators.

Prior to the upgrade, it takes energy equivalent to 14 million light bulbs to keep the Electroneum blockchain running each day.

However, that’s reduced to just 10% of the energy used by an average UK household with the new validator model.

The team selected a number of Non-Governmental Organisations (NGOs) to be validators, and hope that they would use the ETN block rewards to enhance their existing charitable initiatives.

Currently, there are currently 12 network validators on the Electroneum blockchain, and anyone can apply to become one.

Only charity organisations are accepted to become validators on the Electroneum network.

7. Instant payments

Electroneum aims to facilitate instant transaction settlements with its Instant Payment Notification (IPN) system.

The IPN API makes it incredibly easy for developers to integrate ETN into existing ePOS and eCommerce systems. Thus allowing ETN merchants to begin accepting ETN as payment for their products and services with guaranteed and instant settlement.

8. Task School

The Electroneum TaskSchool is a free online educational portal that enables people to learn a range of basic digital skills that have commercial value.

It is a multi-language platform, that affords users to learn skills such as photo editing, social media content development, logo designs, etc.

The company hopes that graduates of TaskSchool would be able to monetize their new skills on AnyTask by offering their services to buyers to earn ETN.

The Electroneum community

With over 4.28 million registered users Electroneum can be said to have a fairly huge community.

Its social media accounts are also very active with 162,914 Facebook followers, 130,839 Twitter followers, and 23,482 Telegram channel members s of July 22, 2021.

However, their community forum which is the only place to engage in conversations with other community members and moderators is relatively inactive for my liking.

The Electroneum coin (ETN)

ETN is the native cryptocurrency that powers the entire Electroneum ecosystem.

Every new project and feature the company builds around Electroneum is targeted at enhancing the utility, value, and adoption of ETN as a digital payment currency.

ETN use cases

ETN can be used to buy everyday goods and services in both online and physical stores worldwide.

  • It is used to top-up mobile airtime and data via the ETN App.
  • ETN is used to reward the Electroneum network validators for their services in securing the network.
  • ETN is used to pay freelancers on AnyTask.
  • The coin is also used to pay for every essential item such as food, taxi ride, etc.

Its use case is only limited to the type and number of merchants on ETN Everywhere.

ETN price predictions

I bought my first ETN during the ICO in 2017 at $0.01 and after about 4 years it’s still 16% below ICO price and 96% below its ATH price of $0.2362.

While its ecosystem has been growing, the coin’s value has been at a standstill for the past year. Most probably due to the fact that it’s a transactional coin as most of its users use it to facilitate payments.

  • Validators are charity organisations that earn ETN rewards and sell to fund their operations.
  • AnyTask users earn ETN and either cash out to fiat or use it to pay utility bills, mobile top-ups, etc.
  • Users buy or earn ETN to buy things from merchants who have to cash out to fiat to fund their businesses.

So that even as these platforms grow in userbase and revenue, the increased demand for ETN is almost always offset by the selling pressure. Which helps to keep the price within a price.

Whereas this is good for those spending and accepting it for payments, it’s not so palatable for speculators and long term holders.

But does that mean ETN price can never rise? I believe it can.

ETN price prediction 2021

However, I believe that the upper limit for the coin in 2021 is $0.02. Which is about 135% from the current price of $0.0085, especially given the current news of some major partnerships involving Electroneum.

ETN price predictions 2022 – 2025

Barring any major bear market, ETN should reclaim its ATH price of $0.2 by 2023 and $1 by the end of 25 after the post-post 2024 Bitcoin halving pump.

Thus my upper limit price prediction for ETN is $1 by 2025 which would put its market cap a nice $21 billion. Which to me, is a reasonable expectation, given the quality of the project and the team behind it.

However, if the market becomes more regulated within the next 5 years and users do not mind KYC as much anymore, then I expect more money to flow into Electroneum which has established itself as a fully compliant and regulated blockchain network.

If this should be the case a $2 to $5 ETN is not unlikely. Putting ETN among the elite payment coins.


Electroneum is a highly secure, energy-efficient, permissioned and moderated blockchain network that focuses on mobile payments, ease of use, and mass adoption.

The coin is widely used for mobile phone top-ups, and utility bill payments, and is accepted by thousands of merchants in over 190 different countries.

The entire Electroneum ecosystem is built with a focus on onboarding the masses onto the cryptocurrency revolution, enhancing ETN’s utility and value, as well as supporting efforts to alleviate poverty, especially in emerging economies.

Given the increasing ETN’s adoption, partnerships, and its fast-growing ecosystem, I believe that $0.02 by the end of 2021, $0.2 by 2023 and $1 by 2025 are reasonable price expectations for the payment coin.

What do you think the price of ETN could be in the next 2 to 5 years? Share with us in the comments section below.

Leave a Comment

Your email address will not be published. Required fields are marked *