this is my first time writing in this forum. I am a early Investor in Electroneum (missed the ICO and started buying right after it), so probably like many of you ladies and gentlemen are, too.
I am what many of you probably would call a professional Investor as I have been working in the financial Industry as a Trader and Investor for 20 years already. I invested in Electroeum because I believed (and still do so) that it is really the first Cryptocurrency going down the path of mass Adoption paired with being lead by someone (Richard Ells) that has the Vision, Passion and Business Model to pull through with this. I invested into this Long term….and by Long term I am talking about 10 years + .
When I read through this (and other Forums or Facebook) I often see very, very unrealistic expectations on how the of electroneum should develop during the next x period of time. However, people making these price speculations, in my opinion, completely ignore some of the fundamentals:
The whole Cryptocurrency market (especially Electroneum) is still very small. Even the Bitcoin price can be manipulated/moved with what is considered a rather small amount of money by institutional investors. For Electroneum things are even “worse”: A trading volume of round about 2,2 Mio USD per day over all exchanges is still very small. Now, this is nothing bad in itself as this is normal for a new market.
At the moment ETN coins are still “inflationary”: Lets say round about every 2 minutes a new Block is found giving a Block reward of about 9.900 ETN to the miner/pool who found it. That means every day about 7.1 Mio ETN are mined, at 0,015 USD per ETN a volume of 106.500 USD, which is in large parts sold on exchanges to cover the Costs of mining. This leads often to a situation where there is more supply of ETN on exchanges than demand, thus resulting in lower prices. Also, this is completely normal and will normalise over time when Block rewards go down AND the user base of electroneum (which is already quite impressive btw) goes up. What is very promising here is that we already are seeing spikes in demand when good news come out that are able to swallow the wall of sell orders by the miners.
The market Sentiment for Cryptocurrencies is still negative due to the prices massively going down in all cryptos out there. I am sure this will Change sooner or later and ETN will then get ist fair share of upswing from a more positive sentiment. Watch out for those institutional Investors entering the Crypto-Sphere….things will definitely be picking up then.
Be patient and be in for the long ride and lower your expectations. You are probably not going to get rich over night but looking 5 or 10 years into the future this might have been a very good Investment for you.