Enjin coin is the native token of the Enjin ecosystem which provides a blockchain based interconnected gaming product. It is a virtual token based on the Ethereum network that allows the users to create websites and clans , chat and host virtual stores.
The gaming industry will definitely evolve with blockchain technology and several Japanese industries have already started investing in Enjin Coin.
This article aims to provide you with brief information regarding the technical analysis, price prediction and the projected growth of the altcoin Enjin.
By the end of this guide you will have a clear outlook on Enjin Coin, whether it is a good investment or not?
|Price(At the Press time)||$2.68|
|Circulating Supply||834,313,757 ENJ|
|All Time High||$4 (April 09, 2021)|
|All Time Low||$0.01562 (November 02, 2017)|
Fundamental Analysis Of Enjin Coin
Enjin Coin was first announced in July 2017 and launched on the Ethereum mainnet in June 2018. Enjin coin is a cryptocurrency that can be used across various different websites and online games. The coin can also be converted into numerous other digital properties like game items or in-game gold. The coin is virtually made for the game industry.
Founded by Maxim Blagov and Witek Radomski, ENJ is a digital store value used to back the value of blockchain assets like non-fungible tokens(NFT’s). According to its whitepaper, ENJ uses a series of both on-chain and off-chain processes to carry out a transaction.
Enjin Coin Price Prediction 2021
Enjin Coin entered the year 2021 with a trading price of $0.13. On a bullish note, the price started to rise further and is trading at $3.48. If the investors focus on Enjin Coin, the price is expected to escalate to a new high. The current ATH is $3.59. The coin might soar if the community concentrates on reducing the transaction fees. By the end of 2021, the highest value ENJ could reach is $8
Enjin Coin Price Prediction 2022
ENJ might initiate the year 2022 at a price of $11. The community could focus on revolving the gaming industry. It might enhance its platform by offering flexibility and seamless transparency. By the end of 2022, Enjin Coin’s price is assumed to be traded at $15.
Price Prediction For The Next 5 Years
With certain developments and collaborations, ENJ might rise. In 5 years, ENJ might be considered as the top gaming crypto available in the market and might enter the top 40 cryptocurrencies list. It might attain more investors and users if it concentrates on enhancement of its protocol and instant transaction system. By the end of 5 years, ENJ might be traded at $34.
Market Prediction For Enjin Coin
According to TradingBeasts, Enjin Coin is expected to reach an average of $2.88 by the end of 2021.
According to CryptoGround, Enjin Coin might stay around $3.2 by the end of 2021. It might reach $5.02 by 2025.
According to DigitalCoinPrice, Enjin coin might trade at $4.08 by the end of 2021 and reach $8.29 by the end of 2025.
The analysts who publish on inventorspalace predict the price of Enjin coin to reach $4.48 by the end of 2021.
According to walletinvestor, the ENJ price is expected to go up from $2.692 to $3.66 in the coming year and reach $9.806 by 2026.
Enjin Coin initiated the year 2021 with the price, $0.13. The token started to escalate further and hit an all time high of $3.59 on April 9, 2021. ENJ may concentrate on integrations and collaborations with certain gaming websites. It might introduce new offerings to trigger the problem of scaling and it might be valued at a higher price. By the end of 2021, the digital currency might be exchanged at as high as $5.
Historical Market Sentiments
With an Initial Coin Offering, Enjin Coin entered the market with $0.022 on 1 November according to Coinmarketcap. As it was the new entrant in the sphere, the investors were not attentive about the currency. Significantly, the token started to rise after. With certain price variations, ENJ climbed to $0.16 by the end of December and closed the year 2017.
On a bearish note, ENJ continued to trade at $0.18. Later, the currency effectively hit an all time high by spiking to $0.49 on 8 January as it got listed on many exchange platforms. Further the price declined to as low as $0.09 by February and steadily recovered to $0.23. Surprisingly, the token plunged to $0.052 by the end of June as the Enjin coin experienced a huge selling pressure. As the bears were held into dragging the prices, ENJ failed to perform well and ended the year 2018 at a trading value of $0.04.
With a bearish run, ENJ started the year 2019 at a cost of $0.04. Dramatically, the price spiked to $0.24 by early March as the marketers continued their investment in Enj and further the token plunged to $0.05 by the end of October as the south asian state exchanges announced to tighten the crypto market regulations. Followed by this, the currency steadily recovered to $0.08 by December to end the year 2019..
Enjin Coin preceded the year 2020 with an exchange value of $0.07. With certain price inequalities, the price dramatically dropped to $0.04 by the mid March as the crash of crypto assets because of the Covid-19 outbreak. Further, the price started to recover as the market opened the trading doors. Later the price hit $0.23 by the end of August and further plunged to $0.11 by early November. ENJ remained to be stable after the expansion of Bitcoin’s price rally at the end of November. Later, Enjin Coin traded at $0.13 to close the year 2020.
Yes, it is possible to mine Enjin Coin.
Yes, Enjin Coin might record its new All-Time-High by the upcoming days.
Yes, Enjin Coin might reach $10 in the near future.
Enjin Coin might be a profitable investment for the long term as it aims to provide more benefits to its users.
Maxim Blagov is the founder of Enjin Coin.