In this video, we will be showing you all
about Enjin Coin from the day of its inception to the day where it stands now, if it is better
than the rest in the crypto market, and most importantly, when it will reach 5$! This is Mason from Attain Highly, the channel
where you will achieve greatly. Be sure to like and subscribe, so you won’t miss out
on your success. Alright! Without further ado, let's get right
into it! Even after Elon Musk's announcement that Bitcoin
would no longer be approved as a form of payment for Tesla vehicles, bitcoin's value plummeted
by as much as 20% in just 24 hours, hitting its lowest point since March 1.
The cryptocurrency market has once again proven
to be extremely unpredictable. Since bitcoin has struggled to sustain its bullish momentum,
a slew of new altcoins have emerged that have the potential to be multi-bagger winners. Enjin Coin was first revealed in July 2017
and went live on Ethereum's mainnet in June 2018. Enjin coin is a cryptocurrency that
can be used to pay for goods and services on a variety of websites and in online games.
The coin may also be exchanged for a variety of digital assets, such as game pieces or
in-game gold. The coin was practically designed for the gaming industry. ENJ is a digital
store value created by Maxim Blagov and Witek Radomski to back the value of blockchain assets
such as non-fungible tokens (NFTs).
ENJ executes transactions using a combination of on-chain
and off-chain methods, according to its whitepaper. Enjin token (ENJ) was first published in 2017,
but it was not widely accepted until January 2021. On January 1, 2021, the Enjin token
was $0.136, and on April 9, 2021, it reached an all-time high of $4.00, a 2,841 percent
increase in just three months. It is currently trading at $1.05 and has a market cap of $1.8
billion, according to CoinMarketCap. Enjin is a project that brings together a diverse
group of individuals from all over the world. Enjin offers a blockchain-based network of
interconnected gaming products. Enjin Network, the company's flagship product, is a social
gaming platform that allows users to chat, build websites, and host virtual stores.
The Enjin token was created with the video
game industry in mind. Over 20 million players around the world have used the project to
build networks and discussions about their favorite video games. Engin coin serves as
a store of value for blockchain assets such as non-fungible tokens (NFTs). Any video game
developer could create a currency backed by the Enjin token. These tokens will have similar
benefits to the blockchain in terms of value, security, and exchange pace. Enjin also works with some of the biggest
names in the IT and gaming industries, including Samsung, Unity, and PC Gamer, as well as a
few esports brands.
Enjin's network of partners continues to expand, enabling the company
to reimagine the gaming experience. Uniqly.io, a marketplace and escrow that enables
users to build and exchange NFTs has teamed up with Enjin (ENJ), a blockchain-based network,
to bridge the gap between the digital NFT world and the real-world mainstream sector. For the casual viewer, Enjin is a leading
digital project that has established itself as a pioneering figure in the development
of blockchain ecosystems and non-fungible tokens (NFTs) over the years. To date, the
Enjin Platform and its ERC-1155 token standard have aided a number of projects, making it
possible for them to mint and implement NFTs easily. The Uniqly team, like Enjin, has created a
full ecosystem that is currently being used as a bridge between the digital and real worlds
of NFTs. This UNIQ-powered device serves as a marketplace, escrow service, and NFT generator,
allowing users to convert NFTs into physical goods.
Uniqly expects to announce the first scheduled
release of the year soon: a limited-edition range of designer NFT shirts redeemable via
the token burn process. Uniqly's team has also devised a generation scheme that will
ensure that each shirt has its own serial number. Users will be able to select which
tier shirt they want to buy from 1,000 available designs, and an RTF will then allocate them
a particular design from that bracket. More notably, this is the first collection
of clothing NFTs that is backed by actual physical items, and Uniqly will be working
with Enjin at a critical moment when the world's attention is focused on NFTs.
be able to perform transactions quicker, easier, and more securely thanks to Enjin's reputation
and experience as a leading project in the NFT landscape, combined with its upcoming
Efinity blockchain. Enjin's tools, facilities, and stable blockchain infrastructure will
be critical to the Uniqly platform's success. Though Enjin is well-known in the digital
industry for its flexibility and usefulness, Uniqly chose Enjin as a partner because of
the latter's relentless innovation push. Enjin has so far succeeded in bridging the gap between
many siloed ecosystems spanning a wide range of industries, including gaming, fashion,
digital art, and others. Uniqly, meanwhile, aims to provide a simple connection between
the physical and digital markets, according to the announcement. Efinity is a purpose-built blockchain for
NFTs that was designed for Polkadot with Substrate development support from Parity Technologies
and launched in March 2021.
Enjin's vision of creating an interconnected cross-chain
market that enables users to receive and submit NFTs from any blockchain was showcased to
the rest of the world with Efinity. Enjin's collaboration with Uniqly will assist
the latter in taking the first step toward a global, open market that bridges the physical
and digital worlds. Enjin's non-fungible stack is also poised to provide unrestricted liquidity
to its partners in the future, as well as a never-before-seen user interface to the
NFT ecosystem. Price Prediction and Technical Analysis
According to Coinmarketcap, Enjin Coin entered the market on November 1st with a price of
$0.022. Since it was a newcomer to the market, investors were unconcerned about the currency.
After that, the token began to increase in value. ENJ climbed to $0.16 by the end of
December, closing the year 2017 on a positive note. ENJ continued to trade at $0.18 on a bearish
note. Later, as it was listed on several trading platforms, the currency effectively reached
an all-time high, spiking to $0.49 on January 8th. By February, the price had dropped to
as low as $0.09, before slowly rising to $0.23.
Surprisingly, by the end of June, the token
had dropped to $0.052 due to heavy selling pressure on the Enjin coin. ENJ struggled
to perform well in 2018 as the bears were forced to pull the prices lower. It finished
the year with a trading value of $0.04. ENJ began the year at a loss of $0.04 due
to a bearish trend. The price skyrocketed to $0.24 in early March as advertisers continued
to invest in Enj, and then plummeted to $0.05 by the end of October as state exchanges in
Southeast Asia reported tighter crypto sector regulations. After that, the currency slowly
recovered to $0.08 by December, bringing the year to a close. Enjin Coin had a $0.07 exchange value before
the year 2020. Due to market disparities, the price plummeted to $0.04 by mid-March
as a result of the Covid-19 outbreak, which caused a crypto asset crash. Furthermore,
as the market reopened for business, the price began to recover. By the end of August, the
price had dropped to $0.23, and by early November, it had dropped to $0.11.
After the price of
Bitcoin increased at the end of November, ENJ remained stable. Enjin Coin later traded
at $0.13 to end the year 2020. On May 10, the price of Enjin Coin fell into
a demand zone that ranges from $1.92 to $2.18. ENJ has gained 21% since then, successfully
breaking through the support sector. This movement indicates a revival of investors,
implying that the price of Enjin Coin is poised for a bull run. On the 6-hour map, the Momentum
Reversal Indicator (MRI) has flashed a buy signal in the form of a green 'one' candlestick,
confirming the bullish outlook stated previously. ENJ is expected to rise in a one-to-four candlestick
upswing based on this setup. As a result, investors should expect ENJ to rally toward
the $2.86 mark, which represents the high swing set on April 29.
The resistance level
at $2.65, on the other hand, can stifle or even halt this upward trend. As a result,
market participants should pay careful attention to this barrier. With a price of $0.13, Enjin Coin began in
the year 2021. The token began to rise in value, reaching an all-time high of $3.59
on April 9, 2021. ENJ may focus on partnerships and integrations with specific gaming websites.
It may implement new offerings to exacerbate the scaling issue, and it may be priced at
a higher price. The digital currency may be worth as much as $5 by the end of 2021. ENJ may begin the year 2022 at the cost of
$11. The group will concentrate on turning the gaming industry around. It could improve
its platform by providing more flexibility and accountability. The price of Enjin Coin
is expected to be $15 by the end of 2022. ENJ can rise as a result of certain developments
and collaborations. ENJ may be considered the best gaming cryptocurrency on the market
in five years, and it may even make the top 40 cryptocurrencies list. If it focuses on
improving its protocol and instant transaction framework, it will be able to attract more
investors and users.
ENJ could be worth $34 by the end of the next five years. The fundamentals of Enjin (ENJ) seem to be
strong and stable. Based on current growth, projections, and optimistic sentiment from
the analysts surveyed by DigitalCoin and WalletInvestor, altcoins have a decent chance to explode in
the coming years. With this, we have come to an end. Thank you
for watching the video. The content in this video is for educational purposes only and
hence should not be considered as financial advice. All the financial decisions should
be made after doing your own research. Before you leave, make sure you like and subscribe
to our channel! Comment down below your thoughts and we will see ya in the next video!.