Last year was a great disappointment for investors who were enthusiastic about investing in Enjin coin. It is a Singapore-based project that has numerous products like ENJ coin, Efinity, EnjinX. Enjin Wallet, and Enjin Network. Enjin is a token on the Ethereum blockchain that can be used across several different websites and online games. The main reason why it got the attention of the investors is its ability to transform into numerous other digital properties like in-game gold, and game items. With that said, Enjin coin is specifically made for the game industry. Since the gaming industry has grown incredibly in the last couple of years, industry players are experimenting by introducing another form of blockchain technology that could help the gamers and players with hassle-free transactions.
However, at the moment, the Enjin market is tight, and before you consider making an investment, you should look at Enjin coin prediction provided by experts at ChangeNOW.
What is ENJ?
Enjin is an information technology company based in Singapore. It was founded in 2009, and slowly it became the world’s one of the largest gaming community platforms, supporting over 20 million registered gamers and around 250,000 gaming communities. The reason behind the initiation of Enjin coin was that internet users, developers, and gamers demand effective and fast user interfaces that make operations efficient while being appealing to the human eye. In addition to that, the need for a trusted platform to keep intellectual property and data safe is also high.
Enjin was designed as an all-in-one platform that can help you create websites, voice servers, donation stores, and forums, among others. As said, it has numerous products like EnjinX, Efinity, Enjin Wallet, Enjin Network.
- EnjinX is a web-based blockchain explorer, designed with a focus on ease of use, speed, and user experience.
- Efinity is created with an aim to solve problems in the Ethereum blockchain. The platform supports numerous Ethereum tokens and provides an end-to-end e-com solution.
- Enjin Wallet is a wallet that stores collectibles as well as digital currencies.
- Enjin Network is a social media platform and a content management system that revolves around gaming platforms and protocols.
The ENJ can serve the following purposes:
- Create a new gaming experience with real value and ownership
- An effective solution to high fees and fraud
- Provides SDKs for the gaming industry
- Trade and exchange virtual goods on the blockchain network
ENJ Price: What Does It Depend On?
Simply putting, Enjin coin price, as the rest of the crypto market, is tied at the hip of Bitcoin’s price action. That is, if BTC embarks on another bull run, Enjin coin can hope for one as well. Since it is specifically dedicated to the gaming industry, there’s not that much interest shown by investors apart from the industry players. Therefore, it will take the right amount of marketing to make the Enjin coin reach the masses.
Nevertheless, experts believe that a strong BTC move is very likely this year. This means that one can expect some moves and swings by Enjin coin as well. we will have to wait and see how it goes.
ENJ Price Prediction 2020
Enjin price saw an erratic movement in 2018, with steep declining trends. Between June and July 2018, the price of one Enjin token fluctuated minimally in the range of $0.05 to $0.06. At that time, it had a market cap of $48 million.
Currently, the ENJ coin price is trading at $ 0.097914, with a market cap of $97.16 million. Moreover, there is a total of 767,432,985 Enjin coins circulating at the moment.
Some experts believe that there will be a continuous decline in the predicted performance of ENJ for the next year. On the other hand, others are optimistic to see a healthy performance by Enjin coin in 2020.
Here are some predictions made by industry experts and market players about the Enjin coin price.
#1 Digital Coin Price
The prediction made by Digital Coin Price is quite optimistic as the prediction site believes that Enjin price will increase to $0.15 by December.
#2 Trading Beasts
Trading Beasts has provided Enjin coin price prediction on a monthly basis for 2020. According to the website, the Enjin coin price for the month on May will be $0.1219337, whereas for the month of June is predicted to be $0.1213990. The website believes that the coin will continue to show slow growth in the coming months. By the end of 2020, they believe that the Enjin coin price will reach $0.1434739.
ENJ Long Term Price Prediction
Considering the Enjin coin price history and the Enjin coin price prediction for this year, it can be said that the crypto coin will see slower growth than expected.
Based on Enjin coin analysis, experts believe that the price of the coin might reach $0.3193743 in the coming five years.
Where to buy ENJ?
If you are optimistic about Enjin coin and see an investment opportunity, then you should definitely buy ENJ. The best way to buy ENJ coin is through ChangeNOW. Here are the steps you need to follow:
- Go to ChangeNOW
- Select a cryptocoin you need to exchange
- Type the amount you would like to deposit
- It will automatically calculate the amount of ENJ you will receive
- Click on the Exchange Now button
- Next, type the wallet address in the address box and click Confirm
You should look at the industry trends before investing in Enjin coin. You need to keep in mind the factors that we have discussed in this post.
Disclaimer: This article reflects its author’s opinion only and is not financial advice. We take no responsibility for the results of any trader’s decision or action.
To learn more about ENJ please visit the following Enjin Review in our blog.