The craze related to Non-Fungible Tokens (NFT) doesn’t look to be slowing down anytime soon. Though there are many uncertainties related to cryptocurrency, there’s always a time for good investments. You just need to know what’s worth investing in.
This article will cover the Enjin Coin price and what to expect for its future performance. We hope this article will help you make the right decision on the Enjin coin and if it’s worth the investment. There’s a lot to discuss with crypto, so let’s get started!
About Enjin
The Enjin project was created in 2009 as a network of blockchain-related gaming products. The platform allows gamers and developers to purchase and sell in-game items tokenized on the Ethereum blockchain, which has real-world value through the Enjin Coin.
It was developed to create on-chain tools which develop the creation, trade, and monetization of creative products with blockchain. Businesses and developers can back their assets through the Enjin Coin and monetize them.
Founders of the project include CEO Maxim Blagov and Chief Technical Officer Radomski Witek. Enjin integrated blockchain in 2012 after Radomski utilized Ethereum smart contracts.
Enjin runs on smart contract collection, which allows developers to mint fungible and non-fungible tokens. Those tokens are put on the Enjin marketplace, where they can be traded. The Enjin project removes the Enjoin coin from circulation as more tokens are created to make the coin scarce and increase value.
When users purchase within the Enjin marketplace, it updates their desired destination with their item (or a non-tradeable version of the item) until the transaction is confirmed on the Ethereum blockchain.
Technical Analysis
According to current data, ENJ has dropped 6.75% in the last 24 hours (written on December 30th), while Enjin is ranked 97 amongst all cryptocurrencies. In 2023, Enjin has room for expansion, with the price expected to pass $0.588398.
It’s worth waiting to see if ENJ’s RSI comes out of the oversold zone before placing any bets. Regardless, by 2030, ENJ is projected to be worth $2.31 in the event of a bull run, with an average price level of $2.21.
Fundamental Analysis
The growth potential is massive for Enjin since it’s at the center of a transformative movement within the crypto community. Furthermore, as the Metaverse and Web3 projects take on a large role, the need for digital item personalization would increase, including tokenized in-game art, causing material market expansion.
Enjin has a market capitalization of $246,612,054 and has made many connections in the crypto industry. Companies include:
- Shopping.io
- Polkadot
- Stormrite
- Samsung
- Microsoft
- Ubisoft
- Unity
- Changelly
- Unity
- PC Gamer
- NRG Sports
- Bancor
- Integrated Engineering Blockchain Consortium
As the Ethereum network continues to grow and its increasing infrastructure develops, Enjin is expected to benefit from one of the most scalable networks in the crypto community. The potential of Enjin may seem like Hyperbole at times, but the sky is truly the limit.
Closing Thoughts On Enjin Coin Price Prediction
As the crypto marketplace continues to expand in gaming and business, Enjin gives businesses the growth potential that crypto integration has. As crypto adoption increases for businesses and collaborations, many expect Enjin to prosper over the long run.