The Electroneum Team and Project are constantly bombarded with with strong negative statements presented as facts about the project. Can all of these statements be trusted?
What Is FUD?
Many who dislike Electroneum are quick to say negative things about the project. Unfortunately, many of these claims are not based on evidence or facts but have an impact on the community sentiment.
When these types of statements are made, many see it for what it is: FUD. FUD is fear, uncertainty, and doubt. These three things are spread through the community when false statements are made and can be a cause for concern and selling pressure.
Electroneum is not a perfect project. One does not exist. Therefore, it is only natural that they will make mistakes or have ups and downs throughout the project development.
Electroneum is not a perfect project. One does not exist
Despite this, many of the claims made by those opposing ETN have no basis. To prove this I would like to speak on a situation that arose a few months ago.
The AlgoZ FUD
Many remember when Electroneum announced ETN would trade on Huobi, they also announced a partnership with AlgoZ. Who are AlgoZ?
AlgoZ is a market maker. Put simply, they ensure liquidity. If someone wants to buy or sell ETN, AlgoZ will be there to make sure that can happen. Many began to say that AlgoZ was controlling the price of ETN around $0.005. They said ETN was now a stable coin and that this was the team's plan all along. Was this true?
AlgoZ is a market maker. Put simply, they ensure liquidity. If someone wants to buy or sell ETN, AlgoZ will be there to make sure that can happen
ETN, A Stable Coin?
Absolutely not. If you look at the price of ETN today, it touched $0.0037 on some exchanges. That represents a 25% decline in price. (If that worries you, please see my other article/video that speaks on price). When you think of a stable coin, you think of coins that are pegged to currencies like USD. If you have a stable coin pegged to USD that drops 25%, it is now worth $0.75! That cannot be classified as a stable coin.
In the same way, ETN cannot be called a stable coin. The assumptions and statements that were made have been proven wrong.
If you have a stable coin pegged to USD that drops 25%, it is now worth $0.75! That cannot be classified as a stable coin.
Why Is This Important?
Today, many things are said about the Electroneum team and project. At times, they are said in a convincing manner. Have you been influenced by these reports? Has your sentiment towards ETN changed because of them?
We have proved that at times these statements are false and misleading. Therefore, I challenge you to research Electroneum's accomplisments and vision for the future and decide for yourself.
