SIST EMCOIN data is not correct. They sell too expensive.
Sistemkoin deki kur başkası yüksek teklif verince Herkese satılan kuruda otomatik olarak artıyor.
We tried to breakout from a descending triangle using 147 sats as the floor, but it did not hold (obviously).
We are now testing 140 and if that does not hold, 134 will be the next minor test which is where we wicked down to last week. The fact of the matter is there is too much emissions from mining than there is demand. There are only two ways to fix that.
Increase demand - this will be difficult while we are in trial phase in South Africa for the next ~2.5 months. I see no reason why demand would increase until more MVNOs come on board and there is a full blown production with real marketing and realized partnerships with mutual advertisement. No one outside of South Africa is going to buy ETN right now, there simply is no reason to unless you are a strong supporter and believe the project will succeed.
Decrease emissions below demand - This would require a fork. I don’t know if this is something easily done on a live production solution or if it is even seen as something that needs to be done.
All I know is one of these two things would have to change in order to increase price specifically. Outside of that, we let this play out with natural emissions decline and demand increases which will take quite a while. The emissions decline is guaranteed. The demand is not…so anyone that is still backing ETN does so with a TON of faith (Which I personally have). I see a lot more downside than I do upside until we see the potential realized. Pure and simple.
We have to be listed on more exchanges. It’s time.
Price aint a concern. As the team works on the products. Market tells the price. The miners aint interested in dumping it below profit. Its still the best cryptonight coin.
9 billion in circulation out of 21 billion. 42% out there. Mining will slow quite a lot if the rest is going to last the life of the coin.
Makes me realise how little i actually have.
Hashrate up almost 100% last days. Someone believe bottom is reached. Or price up at least
The hash rate is probably up because monero changed their code again to get rid of asics
It was on March 9th
That does not mean Electroneum did the same thing to their code? Asics are still currently mining our blockchain.
Monero has to keep changing their code to get rid of asics. Otherwise the people who make asics figure it out, push an update and people can asic mine monero.
Monero just updated their protocol. So all the asics who were mining monero couldn’t anymore so they moved to etn.
Or at least that’s my assumption
Monero is on a different cryptonote variant. ETN was on it until they decided to go back to the previois ASIC friendly algo a long time ago.
We will see what happens, but price falling with hash rate increasing could simply mean more people are mining to sell, hense the price plunge…but logically that is dumb unless you get near free electricity.
I thought it was still easy to go back and forth. Just have to update your asic for which version of cryptonight
I misunderstood what you meant.
Also looks like 85% off monero hash was asic even though it was supposed to be resistant
It is still one of the more profitable to mine currently I believe. You’re correct it could just be the sellers, could be a number of things. I just find the chart interesting.
I enjoy your charts I look forward to the next
Yeah, I don’t ASIC mine or pay attention to Monero. But I do remember when Monero went to CNv8 and ETN followed about a month later before reversing course back to CNv7. In the world of tomorrow and crypto, privacy coins will have an uphill battle making them too risky to invest in…so I don’t even entertain them.
Just stopping by to say that all indicators on the ETN chart look really really nice at the moment.
For longterm this for me is a clear buyzone.
For short term I would like to see some kind of clear pattern like a double bottom.
Support at fib level.
Volume low -> breakout could appear soon.
Daily RSI low -> Room to the upside available. Already saw a small bounce.
Stoachstic RSI low -> Momentum available.
Laugh of the day - top of the sell market depth on Kucoin ETN…check out these ask prices