Non-fungible tokens (NFTs) gained huge popularity in 2020 and 2021 with buyers and the general public. Since 2017, Enjin (ENJ) has been inspiring users and developers to launch their own NFTs and has served as a dominant player in the NFT space.
The Enjin is a unique project in the world of conventional cryptocurrencies. Gamification is a new approach from the network as their official website quotes, ‘More than simulation, these new realms will empower us to create real-world value while having fun. Precisely, Enjin aims to map a path where the users can experience digital realities!
Did you know that Enjin’s coin is the first-ever cryptocurrency in the world to become a gaming crypto
ENJ is the digital token of the network and allows you to create your own NFTs. Powered by the Ethereum blockchain, they are ERC-20 tokens. That is to say that smart contracts can also be made and agreed upon using these coins. In circulation, ENJ can be bought, sent, swapped, or exchanged for fiat currencies anytime!
The coin has not just caused inquisitiveness within the gamers circle but also grabbed the attention of many investors Now on-point, what will be the possible Enjin Coin price by the end of the year? Will gamification be on cards for the entire world? For the latest updates, buzz, and a long-term price forecast, dive in!
|All Time High||$4.00 Apr 09, 2021|
|All Time Low||$0.01562 Nov 02, 2017|
|Circulating supply||834,331,121 ENJ|
|Total Supply||1,000,000,000 ENJ|
What is the Enjin (ENJ) coin?
The Gaming community ventured in 2009 with around 200 million users in no time! However, the Enjin Coin was first announced in July 2017 followed by an ICO and raised $18.9 million. Subsequently, the launch on the Ethereum mainnet occurred in June 2018. ENJ is in use across various different websites and online games. The coin is convertible into numerous other digital properties like game items or in-game gold.
Maxim Blagov and Witek Radomski, were the hands behind this growing gamification platform to land its feet at the crypto market. ENJ is a digital store value and backs the value of blockchain assets like non-fungible tokens(NFT’s). The token is capped at 1,000,000,000.
After the blockchain technology became popular, Radomski, the Co-founder of the network decided to introduce the blockchain to Enjin. Moreover, he became keenly interested in Ethereum and smart contracts that he even wanted to create a blockchain-integrated software! And that very point opened doors to the world’s first blockchain-based gaming platform.
The Enjin network lets game developers tokenize any in- game assets or items. For doing this, the native token ENJ, an ERC-20 token is in use. In other words, any block chain 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 use them in-game but also trade and sell them in return for ENJ tokens.
On the flip side, if you want to buy ENJ tokens, then look out for Crypto exchanges. Coinmarketcap, quotes Binance, Uniswap, Bithumb, Balancer, and many more. If you’re not a gamer yet want to trade Enjin coins, check out these exchanges to trade ENJ for Bitcoin, USD, Euro, Ether, Tether, and a few other cryptocurrencies!
For every asset that minted within the network, a part of ENJ acts as a minting resource. That is to say, every digital asset is in lock with ENJ tokens inside NFTs. Thereby, a segment of the token goes eliminated from circulation, adding a reserve value to it. Not just NFTs, with the Enjin Beam, transfer of both NFTs and FTs is now possible by scanning a QR code. Arising questions about the security of the network is clear, as the tokens are backed by the Ethereum blockchain and smart contracts.
The altcoin follows the PoW consensus mechanism like most other cryptocurrencies. Since it runs on the Ethereum blockchain, you cannot stake ENJs and can only mine them. Minting the tokens helps within in-game items aids in boosting transparency and turns them as anti-inflationary coins. Also, the coins have a Melting mechanism where a user can demolish the blockchain asset and procure the tokens within.
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. The current ATH is $4.00 that evolved in April. Following this, Enjin surged significantly with $2 figures by May. However, on May 19, the price collapsed, dipping from $1.89 to $1.20. The ENJ price has not yet recouped from the market crash and remains sluggish!
Enjin coin may trade at $1.589 by the end of 2021, on an average with regular buying and selling pressures.
However, the coin might soar if the community concentrates on reducing the transaction fees. Also, with a wide vogue of the Enjin Smart wallet, the coin may strike a high at $2.851 with further developments. On the flip side, the TPS is only 30, which may operate as a setback, pulling the coin to minimums at $0.650.
ENJ Price Prediction 2022
If this year closes on a bullish note, then the 2022 trade might begin with an uptrend at $2.907. On the other hand, if the ENJ coin hits the bottom flank, then the next year may commence with a bearish trend at $0.659.
The community could focus on revolving the gaming industry. If Enjin enhances its platform by offering flexibility and seamless transparency , Enjin may smash a $4.989 mark by the end of 2022.
In contrast, If the market crashes again due to debates about PoW, then ENJ price may also fall back to $1.715. If this does not happen, the average figures by the end of 2022 seem reasonable and may strike at $2.805.
Price Prediction For The Next 5 Years
In 5 years, ENJ might become the top gaming crypto available in the market and might enter the top 40 cryptocurrencies list. If the network works on an instant transaction system, then it may blow a high at $8.793.
By the end of 5 years, ENJ coin might trade at $7.414 with not much developments. On the other hand, if new regulations pop up in the coming years, the coin may entangle and drop even to $5.991.
Market Prediction For Enjin Coin
According to TradingBeasts, Enjin Coin may to reach an average of $1.43886 by the end of 2021.
According to CryptoGround, Enjin Coin might stay around $2.0950 in one year. It might reach $3.7684 by 2025.
According to DigitalCoinPrice, ENJ coin might trade at $2.02 by the end of 2021 and reach $4.09 by the end of 2025.
The analysts who publish on inventorspalace, predict the price of Enjin coin to reach $3.10 by the end of 2021.
According to walletinvestor’s algorithm-based forecast, the ENJ price can go up to $2.169 by this year-end. Also, it might reach $10.753 by 2026.
Know Our Chainlink Price Prediction
ENJ may concentrate on integrations and collaborations with certain gaming websites. According to Coinpedia’s formulated Enjin Coin price prediction, if it introduces new offerings to trigger the problem of scaling, it might smash $2.85 by this year’s end. On the flipside, the lowest price ENJ price may be $0.65, if the price continues to be volatile.
|Year||Potential High||Potential Low|
How did ENJ Price Perform Previously?
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 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 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.
Disclaimer: This piece of Article is only for informational purposes. It is not trading or financial advice.