John McAfee may be linked to the recent pump of several altcoins
The infamous entrepreneur John McAfee appears to have some influence on the cryptocurrency market by using his reputation. On December 13, he advised his Twitter followers to invest in the Verge cryptocurrency, which soon rose from $ 0.01 to $ 0.16, and recently promised to write every day about the coins he thinks deserve attention..
Yesterday he wrote about the Electroneum cryptocurrency (ETN), which then went through a pump-and-dump cycle..
Electroneum, or “the first British cryptocurrency”, held an ICO in October and raised about $ 40 million. According to McAfee, the undeniable advantages of Electroneum are the ability to mine coins on smartphones, privacy, a dedicated community and a low price..
Shortly after posting McAfee’s tweet, Electroneum, which was trading below $ 0.08 at the time, climbed more than 50% before returning to the $ 0.095 level..
It is worth noting that the previous maximum of Electroneum set at $ 0.135, which may explain such a short pump, interrupted by investors who tried to close old positions without loss..
Electroneum has previously been criticized for allegedly winding up Facebook likes, conducting aggressive advertising, not taking a white paper seriously, and raising too much money for the ICO..
McAfee himself was criticized for writing about the cryptocurrency, which is traded on the Cryptopia exchange alone..
Today McAfee chose Burst cryptocurrency for his review, which ranks 112 on the CoinMarketCap list. Interesting metamorphoses are already taking place in the Burst market, and McAfee Twitter followers suggest that the entrepreneur bought the cryptocurrency before posting his tweet, which is associated with a sharp jump in its rate..
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