Enjin co-founder Maxim Blagov has stated that the company is focused on adoption. He imagines a future in which millions of gamers use digital items backed by Enjin Coin without even knowing it exists. This is a perfect strategy as gamers would like to play and worry less about technicalities such as the volatility of the coins used.
On the other hand, Enjin has been highly involved in the gaming industry and aims to increase the revenue of the gaming business and give them a competitive advantage. Investors, however, are keenly interested in technicalities about the coin as they need to keep ahead of the crowd.
A game creator explains that constructing an internal game economy involves”creating value out of nothing,” and making the”nothing”—such as a boost—scarce is one way to accomplish that. How’s that again? For now, let’s start with knowing the Enjin coin.
What is the Enjin Coin?
Enjin coin is an ERC-155 token and an ERC 20 token that relies on the Ethereum network to support smart contracts and payments. Its supply is finite, with a market cap of 1 billion units. It was first announced in July 2017 and launched on the Ethereum network in June 2018.
Enjin coin supports the creation and use of virtual goods. You can create cryptocurrencies that are backed by the Enjin coin.
Any person mining on the Enjin Ecosystem has to use the Enjin coins. They withdraw the correct quantity of ENJ tokens from their wallets and lock them within the assets they create. This way, the tokens are removed from the marketplace to create scarcity.
It is also the first crypto to be used in the gaming industry. Enjin coin is innovative crypto and is expected to transform the video game industry. The Enjin network blockchain gaming community has more than 20 million users.
Gamers can use Enjin Network to create clans, parties and play with friends online. Blockchain-based gaming is gathering heat within the gamers community. Gamers can use features like chat while playing blockchain-based games. Also, using the Enjin Network, any player will tokenize items in the game using the Ethereum network.
Gamers use the ERC-20 token on Ethereum and the Enjin Network to develop NFTs like digital swords. NFTs are becoming popular as many artists are entering the community. Even TIME magazine released their own NFTs.
This makes the Enjin coin price predictions quite important as many investors want to buy enjin coin cryptocurrency.
Enjin coin price history
This section is a historical analysis of the ENJ price before getting into Enjin coin price prediction. The discussion is based on historical data (historical data) about the ENJ digital coin.
The ENJ coin entered the world of cryptocurrencies on 1st November 2017 at $0.22. Investors didn’t pay much attention since it was new in the market. The price began to make a significant rise. By the end of 2017, the price stood at $0.16.
On 8th January 2018, the price of the Enjin token rose to $0.49. This rise made it to be listed on most cryptocurrency markets.
In February 2018, the trading price declined to $0.09 but rose to $0.23. By the end of June, it had hit $0.052 after experiencing tremendous selling pressure.
The bears dragged the price of the Enjin Coin, and it ended with a minimum price of $0.04 in 2018. The cryptocurrency price had risen to $0.24 by March of 2019. The crypto had recorded a significant drop by October and had a value of $0.05. By the end of 2019, the Enjin price was $0.08.
Enjin coin entered the year 2020 with a value of $0.07. In mid-March, the coin recorded a significant price drop to a value of $0.04. The coin price hit $0.23 in August and $0.11 in November.
By the end of 2020, the Enjin coin was trading at an exchange value of $0.13. This also shows that the Enjin coin has average volatility.
To perform technical analysis on the ENJ token, you can use a platform like a WalletInvestor. Such platforms can also help you predict the future values of crypto assets for investment advice.
According to the Enjin (ENJ) price analysis by TradingBeasts, the price will find a mining value of 1.04712 USD, a maximum value of 1.53988 USD, and an average value of 1.23190 USD in October.
Furthermore, for December 2021, the minimum, maximum, and average prices are 1.06664 USD, 1.56859 USD, and 1.25488 USD.
However, if the community focuses on minimizing the transaction fees, the ENJ price may escalate. Additionally, widespread adoption of the ENJ smart wallet may push the price to ENJ USD 2.851.
Enjin Current Price
The live Enjin Coin price on 12th January 2022 is $2.55, with a 24-hour trading volume of $236,948,485. Enjin Coin has been up 11.19% in the last 24 hours. The current CoinMarketCap ranking is #60, with a live market cap of $2,163,740,777 USD. It has a circulating supply of 847,535,706 ENJ coins and a max. supply of 1,000,000,000 ENJ coins.
Granted the hype surrounding NFTs and the Metaverse, a coin such as ENJ is set to grow in days to come. ENJ coin has the potential to deliver 100X its all-time high by the end of 2022. The hourly charts indicate ENJ price has been trading along with a bullish trend and inclined towards consistent demand action. The technicals are clearing all profit-booking attempts around the 200-DMA support -thereby cementing the possibility of further gains.
Meanwhile, the MACD shows a bearish trend in the bearish region. Which further clarifies our bullish perspective for the Enjin coin. Finally, the RSI is leaning towards the buyers’’ zone as it exists in the neutral zone.
Enjin coin price prediction by WalletInvestor
The price may close on a bearish note in the short term from the above bearish market price prediction. If this Enjin coin forecast happens, the Enjin price may start with an uptrend at $2.907 in 2022. However, if this doesn’t happen by the end of 2021, the market price of the Enjin coin may begin with a bearish trend in 2022 at $0.659.
Suppose the Enjin platform is enhanced to bring transparency and flexibility to crypto and blockchain technology. In that case, the coin may hit a maximum price of $2.913 before the end of 2022, as Wallet Investor says.
However, if the cryptocurrency market crashes, the Enjin coin price may fall to $1.715. If all goes well, the Enjin coin may hit an average market price of $9.14 in the long term. If you buy Enjin Coin for 100 dollars today, you will get a total of 38.811 ENJ. Based on their forecasts, a long-term increase is expected; the price will be $12.546 on 9th January 2027. With a 5-year investment, the revenue is expected to be around +386.85%. Your current $100 investment may be up to $486.85 in 2027.
Enjin coin price prediction by DigitalCoin
Digitalcoin has forecasted bullish Enjin price predictions. According to them, the market price will increase to $11.01 by 2029. However, it has a conservative short-term Enjin future price target at 11% for 2022.
They have predicted that the price will hit USD 1.89 by the end of 2021, USD 2.26 in 2022, USD 2.79 in 2023, USD 2.92 in 2024, USD 3.84 in 2025, and USD 4.29 2026. They have also predicted that the Enjin coin Enj price will hit $5.61 in 2028.
If this price forecast works, Enjin coin may enter the top 40 cryptocurrencies in the crypto market like Bitcoin and Ethereum. This will be great news to cryptocurrency investors.
Enjin price forecast by PricePrediction
In the last 4 months, Enjin Coin has shown a growing trend. Thus, we think that similar market parts were quite popular at that period. According to the latest data collected, the trading volume of Enjin Coin has increased for the last 4 months. The trading volume constitutes a vital role in its price. The coin is up by 47.43%, with the maximum average price being around $1.77 and the minimum average price being around $1.66 in the past 4 months. If you invest $100 today, the return will be 4607% in 10 years, and you will have $4707 in total.
Is Enjin coin a good investment?
The Enjin coin price rose significantly in 2021 and gained massive popularity among investors.
Enjin coin also has a stable blockchain network and a great founding team. These factors indicate that the Enjin coin is a crypto to watch when put together. Thus, ENJ may be one of the most profitable assets worth investing in. You can buy it from the Binance cryptocurrency market.
Final verdict on Enjin
Enjin coin depends on the Ethereum network for payments. It was the first crypto to be used in payment systems in the gaming industry. It is expected to bring a massive transformation to video games. Since it runs on the Ethereum network, you can create a smart contract.
Enjin coin has recorded a significant price increase since its inception in 2017. This means that the coin will see a further increase in market price and popularity in the future.
FAQs about Enjin
Is it possible to mine Enjin Coins?
Yes, you can mine the Enjin non-fungible tokens.
Can the Enjin coin (ENJ) hit an exchange value of $10?
In the Enjin coin prediction section, it was clear that this digital currency has a bright future.
Thus, with the above ENJ price prediction, there are chances that the coin will hit an expected maximum price of $10 in the next few years.
Who founded Enjin Coin?
Maxim Blagov founded the Enjin crypto coin.
Is Enjin Coin (ENJ) a profitable investment?
The Enjin coin can be a profitable investment for the long term. It is one of the most valuable blockchain assets that we have today.
By reading your favorite coins’ price analysis and daily roundups, you may keep yourself updated.