ENJ is a token of the platform Enjin. Its current price is around $0.5441 by the time of writing, with a low of $0.3824, and its market cap is 487 million dollars.
Table of Contents
What is Enjin?
Enjin is designed to use Enjin Coin, a cryptocurrency, as a currency in games and buy, sell, and trade Non-Fungible Tokens (NFTs) with the Enjin Wallet. With this platform, you can also purchase items from one game to be used across multiple games without importing or exporting them.
What is ENJ?
ENJ is the coin of the Enjin platform, which is around $0.5441 by the time of writing, with a low of $0.3824. It reached a high of $4.85, and its current ranking is #72 according to CoinMarketCap, with a market cap of 487 million dollars. ENJ is an Ethereum ERC-20 token on the blockchain that helps people and businesses mint non-fungible tokens. With ENJ, NFTs are backed by tangible value, which makes them easier to sell on the market or trade for other assets.
ENJ Coin Market Analysis
ENJ has a total supply of 1,000,000,000 coins worth around $0.5441 with a market volume of 70 million dollars, whereas the market capitalization is 487 million dollars at writing. So it seems like Enjin is getting busier each year. They’ve been successful over the past few years, and we can expect a similar level of success in 2022 with the release of their newest project, Efinity.
ENJ Price Prediction
The Enjin (ENJ) is an innovative project in the world of cryptocurrencies and the NFT space with real potential. On the 1D timeframe, the price action of $ENJ/USDT works inside the falling wedge. Currently, the price is breaking the wedge resistance trendline. We have to wait for a successful breakout to confirm its next direction.
For any time, on-demand analysis on $ENJ or any other coin can join our Telegram channel.
Closing Thoughts
Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.
Disclaimer: Our analysis is for educational purposes.
