The McAfee Effect: Electroneum Moves Up as Markets Slide

Electroneum keeps rising against BTC as it was recommended by John McAfee, but the coin still suffers network overload.

Electroneum (ETN) has felt the effect of a promotion by John McAfee- but at an unfortunate moment. Unlike Verge (XVG), which shot up nearly ten times from its sub-penny prices, Electroneum for now resists a larger pump due to several factors. 

At the moment, acquiring Electroneum is truly hard, having to rely on Cryptopia, a market reserved for staunch crypto supporters, as Electroneum has not been added to any major exchanges. Hypothetically, Electroneum mining should work, but it also comes with glitches. And the strongest point of ETN, mobile phone mining and a wallet in every pocket, is still not viable. 

Even the Electroneum app is slow to be distributed, as the project seems to be overwhelmed by traffic. 

When it comes to Electroneum, perhaps it is the Cryptopia crowd that has inflated its price, up more than 40% against BTC, although the dollar value is the same as a few days ago. This week, ETN had a re-launch, and users are just seeing their coins. The price of ETN has increased around nine times since the ICO, despite technical problems, as the project has a rather wide fan base.

The prediction of McAfee is for prices rising as high as $40 by the end of the year. At this point, Electroneum is very far from becoming an everyday means of payment through a mobile phone, provided the technology is unrolled. 

The "live" trading of Electroneum made the price drop for a while, as some selling happened around 13 December when the balances were renewed. But now, it is up to Cryptopia trading against BTC to establish the position of ETN. 

Getting Electroneum

ETN has a rather convincing price at $0.09. But getting some means either going through Bitcoin- or DogeCoin, the only other asset tradable for ETN. It is rather straightforward to get DOGE on Cryptopia or by any other means. Sadly, the coin is no longer available through Changelly, and not supported by the Exodus wallet, but it is still available to get ETN. 

You would need to get acquainted with market orders and place the right price to get the in-demand asset. The trading is still rather slim, and the wrong order may wait around for a while. 

Then, there is the issue of Electroneum wallets, as for now there is only a paper wallet generator, and web-based wallets remain risky.