Enjin coin is a cryptocurrency that was created by the enjin company and since it’s an ERC-20 compliant token this means that it can be transferred and received using an Ethereum wallet.
Enjin(ENJ) is a digital asset token used to directly protect the value of blockchain assets created using the Enjin platform. It operates on the Ethereum network, which is compliant with the ERC-20 token standard. ENJs can be bought and sold in fiat currencies or other digital currencies. The ENJ can be stored in crypto wallets and custodians like Gemini.
What is the Enjin Coin?
Enjin Coin (ENJ) is a cryptocurrency created by the gaming company Enjin. It can be obtained through in-game achievements and can be used to purchase virtual goods on gaming platforms. Enjin is a Singapore-based company best known for its digital Enjin Marketplace and Minecraft plug-ins, among other things.
Here is some fundamental information about the Enjin coin that investors and crypto users should know:
- Enjin’s best feature, is its ability to integrate itself within games, as a result, the enjin coin can also be used in a variety of transactions including:
- The purchase: Much like a currency, the enjin coin will allow different players to purchase different game items, for this reason online multiplayer role-playing game fans will adore this token. Engin coin is also a smart gaming cryptocurrency that focuses on blockchain gaming.
- Online sales: The enjin runs under the Ethereum technology and as such can be used in buying and selling.
- Trading of no fungible token (NFT): Engin coin is also a smart gaming cryptocurrency that focuses on blockchain gaming.
- Game developers can acquire a certain amount of enjin coin through an official partnership, cloud funding, or through a cryptocurrency foreign exchange.
- Game developers can use the enjin platform to create blockchain gaming items, once the game is released gamers can complete quests and win tokens as rewards.
- Gamers can use enjin coin to securely purchase blockchain items from the in-game stores or trade with each other.
We can not speak about enjin without talking about NFTs (non-fungible tokens). NFTs are crypto assets that can be exchanged on a blockchain network. it can be swapped directly between users without the use of a third party.
NFTs can be used to exchange digital goods such as:
- In-game item
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Price Prediction of Enjin Coin 2025
Although the token has struggled to regain its high in 2021, despite the recent negative price movement, Enjin has a long-term earning potential of 40027.2%. Based on the previous study of its price history, it was anticipated that enjin might cost $2.988 in 2023 and $8.335 in 2027.
According to digital coin price, Enjin coin is expected to rise in value to $2 by 2022 and will rise to $3 by 2025, although price projection might be inaccurate, the forecast should be used as a substitute.
With recent development, we can say enjin has a high possibility of going higher, this is possible only if the market maintains its bullish trend.
Can Enjin coin hit $100?
the truth is that no one can accurately say whether Enjin coin can reach $100 in the future although some crypto analysts have predicted that it will reach $100 by 2030, the reality is that it will be difficult for Enjin coin to hit $100 in the next few years.
Many Crypto analysts have suggested that Enjin coin price will spike if the community focuses on minimizing the transaction fee.
The ENJ coin is a cryptocurrency for long-term investment, the short-term ENJ coin will be bearish but has a good chance of escalating.
Following the ENJ price in the past few years, we see a gradual price rise, as things are, ENJ price will be on the rise in the next 10 years and this could result in a high increase.
Based on the ENJ price prediction a long-term increase is expected.
Is Enjin Coin a good investment?
Just as with other altcoins, the price Enjin coin is volatile and can be affected positively or negatively by different market factors. You can procure great returns or misfortunes.
Assuming you had purchased Enjin before the start of 2021, you would be up more than 10x on your investment. Nonetheless, if you bought it close to the peak, you would be down over half your investment.
It’s by and large smart to just put what you can manage losing into the volatile altcoins like Enjin.