In this content, we will be showing you all about Enjin Coin from the day of its inception to the day where it stands now if it is better than the rest in the crypto market, and most importantly, when it will reach 5$! This is Mason from Attain Highly, the channel where you will achieve greatly.
Be sure to like and subscribe, so you won’t miss out on your success. Alright! Without further ado, let’s get right into it! Even after Elon Musk’s announcement that Bitcoin would no longer be approved as a form of payment for Tesla vehicles, bitcoin’s value plummeted by as much as 20% in just 24 hours, hitting its lowest point since March 1. The cryptocurrency market has once again proven to be extremely unpredictable.
Since bitcoin has struggled to sustain its bullish momentum, a slew of new altcoins have emerged that have the potential to be multi-bagger winners. Enjin Coin was first revealed in July 2017 and went live on Ethereum’s mainnet in June 2018. Enjin coin is a cryptocurrency that can be used to pay for goods and services on a variety of websites and in online games.
The coin may also be exchanged for a variety of digital assets, such as game pieces or in-game gold.
The coin was practically designed for the gaming industry. ENJ is a digital store value created by Maxim Blagov and Witek Radomski to back the value of blockchain assets such as non-fungible tokens (NFTs). ENJ executes transactions using a combination of on-chain and off-chain methods, according to its whitepaper.
Enjin token (ENJ) was first published in 2017, but it was not widely accepted until January 2021. On January 1, 2021, the Enjin token was $0.136, and on April 9, 2021, it reached an all-time high of $4.00, a 2,841 percent increase in just three months.
It is currently trading at $1.05 and has a market cap of $1.8 billion, according to CoinMarketCap. Enjin is a project that brings together a diverse group of individuals from all over the world. Enjin offers a blockchain-based network of interconnected gaming products. Enjin Network, the company’s flagship product, is a social gaming platform that allows users to chat, build websites, and host virtual stores. The Enjin token was created with the video game industry in mind.
Over 20 million players around the world have used the project to build networks and discussions about their favorite video games. Engin coin serves as a store of value for blockchain assets such as non-fungible tokens (NFTs). Any video game developer could create a currency backed by the Enjin token. These tokens will have similar benefits to the blockchain in terms of value, security, and exchange pace. Enjin also works with some of the biggest names in the IT and gaming industries, including Samsung, Unity, and PC Gamer, as well as a few esports brands.
Enjin’s network of partners continues to expand, enabling the company to reimagine the gaming experience. Uniqly.io, a marketplace, and escrow that enables users to build and exchange NFTs has teamed up with Enjin (ENJ), a blockchain-based network, to bridge the gap between the digital NFT world and the real-world mainstream sector.
For the casual viewer, Enjin is a leading digital project that has established itself as a pioneering figure in the development of blockchain ecosystems and non-fungible tokens (NFTs) over the years. To date, the Enjin Platform and its ERC-1155 token standard have aided a number of projects, making it possible for them to mint and implement NFTs easily.
The Uniquely team, like Enjin, has created a full ecosystem that is currently being used as a bridge between the digital and real worlds of NFTs. This UNIQ-powered device serves as a marketplace, escrow service, and NFT generator, allowing users to convert NFTs into physical goods. Uniquely expects to announce the first scheduled release of the year soon: a limited-edition range of designer NFT shirts redeemable via the token burn process.
Uniqlo’s team has also devised a generation scheme that will ensure that each shirt has its own serial number. Users will be able to select which tier shirt they want to buy from 1,000 available designs, and an RTF will then allocate them a particular design from that bracket. More notably, this is the first collection of clothing NFTs that is backed by actual physical items, and Uniquely will be working with Enjin at a critical moment when the world’s attention is focused on NFTs.
Uniquely will be able to perform transactions quicker, easier, and more securely thanks to Enjin’s reputation and experience as a leading project in the NFT landscape, combined with its upcoming Efinity blockchain. Enjin’s tools, facilities, and stable blockchain infrastructure will be critical to the Uniqly platform’s success. Though Enjin is well-known in the digital industry for its flexibility and usefulness, Uniqly chose Enjin as a partner because of the latter’s relentless innovation push.
Enjin has so far succeeded in bridging the gap between many siloed ecosystems spanning a wide range of industries, including gaming, fashion, digital art, and others. Uniquely, meanwhile, aims to provide a simple connection between the physical and digital markets, according to the announcement.
Efinity is a purpose-built blockchain for NFTs that was designed for Polkadot with Substrate development support from Parity Technologies and launched in March 2021. Enjin’s vision of creating an interconnected cross-chain market that enables users to receive and submit NFTs from any blockchain was showcased to the rest of the world with Efinity.
Enjin’s collaboration with Uniqly will assist the latter in taking the first step toward a global, open market that bridges the physical and digital worlds. Enjin’s non-fungible stack is also poised to provide unrestricted liquidity to its partners in the future, as well as a never-before-seen user interface to the NFT ecosystem. Price Prediction and Technical Analysis According to Coinmarketcap, Enjin Coin entered the market on November 1st with a price of $0.022.
Since it was a newcomer to the market, investors were unconcerned about the currency. After that, the token began to increase in value. ENJ climbed to $0.16 by the end of December, closing the year 2017 on a positive note. ENJ continued to trade at $0.18 on a bearish note. Later, as it was listed on several trading platforms, the currency effectively reached an all-time high, spiking to $0.49 on January 8th.
By February, the price had dropped to as low as $0.09, before slowly rising to $0.23. Surprisingly, by the end of June, the token had dropped to $0.052 due to heavy selling pressure on the Enjin coin. ENJ struggled to perform well in 2018 as the bears were forced to pull the prices lower. It finished the year with a trading value of $0.04. ENJ began the year at a loss of $0.04 due to a bearish trend.
The price skyrocketed to $0.24 in early March as advertisers continued to invest in Enj and then plummeted to $0.05 by the end of October as state exchanges in Southeast Asia reported tighter crypto sector regulations. After that, the currency slowly recovered to $0.08 by December, bringing the year to a close.
Enjin Coin had a $0.07 exchange value before the year 2020. Due to market disparities, the price plummeted to $0.04 by mid-March as a result of the Covid-19 outbreak, which caused a crypto asset crash. Furthermore, as the market reopened for business, the price began to recover.
By the end of August, the price had dropped to $0.23, and by early November, it had dropped to $0.11. After the price of Bitcoin increased at the end of November, ENJ remained stable. Enjin Coin later traded at $0.13 to end the year 2020. On May 10, the price of Enjin Coin fell into a demand zone that ranges from $1.92 to $2.18. ENJ has gained 21% since then, successfully breaking through the support sector.
This movement indicates a revival of investors, implying that the price of Enjin Coin is poised for a bull run. On the 6-hour map, the Momentum Reversal Indicator (MRI) has flashed a buy signal in the form of a green ‘one’ candlestick, confirming the bullish outlook stated previously. ENJ is expected to rise in a one-to-four candlestick upswing based on this setup. As a result, investors should expect ENJ to rally toward the $2.86 mark, which represents the high swing set on April 29.
The resistance level at $2.65, on the other hand, can stifle or even halt this upward trend. As a result, market participants should pay careful attention to this barrier. With a price of $0.13, Enjin Coin began in the year 2021. The token began to rise in value, reaching an all-time high of $3.59 on April 9, 2021.
ENJ may focus on partnerships and integrations with specific gaming websites. It may implement new offerings to exacerbate the scaling issue, and it may be priced at a higher price. The digital currency may be worth as much as $5 by the end of 2021. ENJ may begin the year 2022 at the cost of $11. The group will concentrate on turning the gaming industry around. It could improve its platform by providing more flexibility and accountability.
The price of Enjin Coin is expected to be $15 by the end of 2022. ENJ can rise as a result of certain developments and collaborations. ENJ may be considered the best gaming cryptocurrency on the market in five years, and it may even make the top 40 cryptocurrencies list.
If it focuses on improving its protocol and instant transaction framework, it will be able to attract more investors and users. ENJ could be worth $34 by the end of the next five years. The fundamentals of Enjin (ENJ) seem to be strong and stable. Based on current growth, projections, and optimistic sentiment from the analysts surveyed by DigitalCoin and WalletInvestor, altcoins have a decent chance to explode in the coming years. With this, we have come to an end.
Read More: Enjin Coin [ENJ] Price Prediction