• Enjin Coin (ENJ) is an ERC-20 token native to the Enjin platform, a gaming community platform. It was launched in 2017 on the Ethereum blockchain.
• The transactions of ENJ are secured in the network by the proof-of-work (PoW) mechanism and it is used to buy, sell and trade NFTs in the Enjin ecosystem.
• Bullish ENJ price prediction for 2023 is $0.3315 to $0.4673, and bearish ENJ price prediction for 2023 is $0.1745.
Enjin Coin (ENJ) is an ERC-20 token native to the Enjin platform, a gaming community platform which was launched in 2017 on the Ethereum blockchain. Transactions of ENJ are secured in the network by proof-of-work (PoW). This token can be used to buy, sell and trade NFTs in the Enjin ecosystem as well as mint and create unique in-game NFTs with users and developers using Enjin (ENJ). Along with ENJ, there is another token called Efinity token (EFI) which serves as governance token of its native decentralized Enjin metaverse.
Current Market Status
Currently, Enjin Coin ranks 105th on CoinMarketCap with a market capitalization of 293M USD at a price of 0.2939 USD per coin 24 – Hour Price Change Down 2.60% and 24 – Hour Trading Volume 15M USD All – Time High $4.85 (On Nov 25, 2021) All – Time Low $0.01562 (On Nov 03, 2017).
Price Prediction 2023
Enjin Coin has good potential according to technical analysis indicators such as RVOL, MA & RSI and ADX & RVI comparison with BTC & ETH which leads us towards bullish prediction for 2023 at 0.3315 – 0.4673 USD . Bearish prediction stands at 0.1745 USD for 2023 .
Price Prediction 2024 – 2030
The long term predictions suggest that this cryptocurrency will reach 3USD soon , however it also depends upon various factors like volatility , market conditions etc .
Overall , we can see that despite being a relatively young project , enj has gained traction due to its utility case backed by strong fundamentals . Hence , traders should consider investing into enj project based on their risk appetite .