Nonetheless, the EMAs stand strong, for now, with chances of bullish reversal on the table. Every token issued through the exchange is infused with an Enjin token that is then locked into the item and then removed from circulation. There is a certain amount of Enjin tokens per asset that can range from a small fraction of one token (0.01 ENJ) to millions. Enjin Coin (ENJ) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Enjin Coin (ENJ) will hit $3 soon.
- However, the downfall of the overall crypto-market puts many cryptocurrencies in downtrend.
- Since the Enjin Coin market is relatively small compared to traditional markets, “whales” can single-handedly have a big influence on Enjin Coin’s price movements.
- Miners compete against one another to add new blockages to blockchain.
- The traders who have shown their faith in the asset deserve credit for this.
In other words, any blockchain asset in-built in a game can be backed by the Enjin token! As a result, when any player unlocks an item, they can not only how to verify blockchain use them in-game. Maxim Blagov and Witek Radomski were the hands behind this growing gamification platform to land their feet in the crypto market.
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The Enjin ecosystem helps to generate new revenue streams for the NFTs developers. Enjin is building a product ecosystem that will help the blockchain community to create advanced virtual economies through the power of blockchain technology. Enjin coin with ticker ENJ is an Ethereum-based cryptocurrency and a Singapore-based technology company. The developers build it for gaming communities and also to service blockchain game developers.
- They are also working on tools and platforms for developers, aiming to simplify the blockchain integration process.
- This allows online gamers to trade their assets while maintaining genuine ownership of the items.
- At the time of writing this article, ENJ price is rising and Enjin coin price predictions are very positive right now.
- As our Enjin forecast has highlighted, this software could have massive value for developers in the years ahead – making Enjin coin a very sought after asset.
The price of ENJ is expected to hit a maximum of $0.44, by the end of 2023. By the next three years, ENJ might become the top gaming crypto available in the market. If the network works on an instant transaction system, then it may blow a high at $0.63. Conversely, a possible dump in the market, followed by FUD and negative criticism, could thwart the price action. Lower TPS may act as a setback, pulling the coin to minimums of $0.19, by the end of 2023.
Founded by Maxim Blagov and Witek Radomski in 2009, Enjin was built primarily to serve the gaming community. The year was a phase when the real world had picked up significant momentum in video gaming, and online mediums had become a fad. Currently, Enjin’s price is trading around $0.25, which is almost 19% down from the last week. Despite the mixed trend, Enjin Coin holds the potential to recover and could cross the $1 mark by 2025.
Is ENJ token a Good Investment for the future?
It is a powerful divisible cryptocurrency which makes the spice of Dune appear as cinnamon. The platform’s primary purpose is to make blockchain-based assets such as NFTs. Enjin ecosystem enables users to utilize its native blockchain products to create unique NFTs for businesses, especially in the gaming industry. As a cryptocurrency for gamers and its expansion into the NFT ecosystem, we believe the ENJ token is an excellent future investment.
Enjin Coin Price Prediction 2028
The ENJ coin price predictions are bullish for the medium-to-long term, but in the short term, it is a volatile asset with many risks involved. Investors should consider all factors before entering into this digital currency and balance the risk versus returns ratio accordingly. Enjin should prove to be a good investment for those who can what is an ido afford to wait and HODL the coin. Technewsleader is optimistic about the future of Enjin Coin, predicting that its price can reach $0.78 by 2023 and will continue to increase steadily. The experts at Technewsleader believe that ENJ coin has the potential to become one of the top 10 cryptocurrencies in terms of market capitalization.
ENJ/USDT Weekly Chart Analysis
The chart given below elucidates the possible resistance and support levels of Enjin Coin (ENJ) in 2023. The ENJ token can still experience a price correction in the mid-term, where we’ll have more confidence to scale into the uptrend. As the year was closing out, Enjin’s focus was on developing EnjinX UI redesign, the Efinity scaling, redesigning the Enjin wallet, ongoing enterprise work, and platform improvements. The Enjin system is a complete ecosystem that integrates with the open-source token standard.
See Our Other Forecasts
While many crypto analysts doubt the legitimacy of New Coins but Enjin has the backing of real projects that makes it trustable. As we found through CoinMarketCap, the Enjin Coin is also audited by Certik. After huge community support and a limited token supply, we can say that Enjin Coin is legit. Enjin Coin is a cryptocurrency like Decentraland (MANA) and The Sandbox.
Finally, eToro sets itself apart from other CFD brokers as they offer a valuable CopyTrader feature. This feature allows users to automatically copy the trades placed by other eToro users – thereby creating a passive income. The CopyTrader feature is suited to traders of all experience levels, especially those who do not have time to be present at the charts all day. Looking at the weekly price chart, you can clearly see that Enjin only really began showing any momentum in early 2021.
We kindly remind you to always do your own research before investing in any asset. Crypto experts have analyzed Enjin Coin prices in 2023, so they are ready to provide their procurrency price estimated trading average for February 2024 — $$0.265. Based on multiple technical quantitative indicators, the current forecast for Enjin Coin in 2023 is bearish.
Enjin Coin is an Ethereum-Based token that promises to make using non-fungible tokens (NFTs) simple for individuals, businesses, and brands. ENJ is a cryptocurrency that is used to back the value of NFTs created within the Enjin ecosystem. As a Metaverse project, Enjin Coin has created a great sensation in the crypto market. There are many crypto trading platforms that have been recently listed Enjin Coin for public trading. As per Crypto analysts, the prices of Enjin Coin will continue to grow in the next 10 years. As all cryptos are down, Enjin coin performance is also showing slow growth.
With new listings on popular crypto exchanges and community support, the Enjin Coin can skyrocket in the upcoming years. The Enjin network already has over $1.1 billion worth of assets housed on its marketplace, comprised of over 800,000 digital assets. Furthermore, Enjin has been around since 2009, meaning that this company isn’t suddenly springing up out of nowhere. The company’s founders, Maxim Blagov and Witek Radomski, are both passionate about the project’s future, meaning Enjin has a strong development team behind it.