Enjin Coin Price Prediction: Will The ENJ Reach $0.2 By The End Of 2020?

Enjin Coin Price Prediction

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The future of money is changing. The dawn of digital technology has brought a new way of accepting payments without real money transactions or the need to negotiate with the bank. This future of banking is made possible only because of cryptocurrencies.

And so if you’re a newbie willing to invest in any cryptocurrency, then you should necessarily have the detailed insights of the currency. While I speak about the detailed insights, it also means the future prediction of the coin.

Today, in this article you will find a detailed analysis as well as the future of Enjin coin. Why wait? Let’s dive into the depth of this Enjin Coin Price Prediction

What Is Enjin Coin?

When you’ve decided to invest in Enjin Coin, you should be quite aware of it from the scratch…

Enjin coin is basically a token on the Ethereum Blockchain. Enjin is an IT company founded in 2009 and based in Singapore. The company has various products like Enjin Network, Enjin Wallet, EnjinX, Efinity and Enjin Coin (ENJ).

Enjin coin is a digital coin that can be used across many different websites and online games. You can also convert the coin into various other digital properties like game items or in-game gold. The coin is basically made for the game industry.

Enjin Coin Price Today

Currently, the Enjin coin price is trading at $ 0.07628 resistance levels with a marketcap value of $ 76.28 M. Also, the Enjin coin has a total circulating supply of 767,432,985 ENJ.

Recent Updates

Enjin Coin Listed On Swiss Crypto Exchange

Enjin coin is now listed on the Swiss cryptocurrency exchange. The SCX is first Swiss crypto exchange who have partnered with a FINMA-regulated Swiss bank. The Enjin coin CEO, Maxim Blagov expresses his thoughts saying, 

“It’s very exciting to see respected institutions like SCX moving to deliver more transparency and security to people who may have been previously wary of the cryptocurrency market. I’m especially happy to see them go to such lengths to research and investigate the cryptocurrencies they list. By highlighting trusted cryptocurrencies with tangible adoption prospects, SCX is boosting confidence in the blockchain movement and ensuring projects like Enjin can continue to deliver innovation after innovation for many years to come.”

Crypto.com Has Now Listed Enjin Coin

Crypto.com announced the listing oc Enjin coin to its wallet and card app, joining bitcoin (BTC), ether (ETH), Litecoin (LTC), Binance Coin (BNB), XRP and its own MCO and CRO tokens. With this listing Crypto.com will enable easy purchase of ENJ coin through USD and EUR bank transfers. The crypto.com wallet and card app will allow its users to securely sell, send, store and track cryptocurrencies. 

Enjin & CoinSwitch Partnership

Enjin partners with Coinswitch to bring a crypto payment gateway for Unity. This collaboration also aims to bring Coinswitch’s token swap functionality to Enjin wallet.

Crypto.com Lists ENJ

Crypto.com lists ENJ coin to its wallet and card app, joining bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Binance Coin (BNB), XRP and its own MCO and CRO tokens. It also enables easy purchase of the ENJ Coin with fiat through USD and EUR bank transfers, credit and debit cards globally on the app.

Fundamental Analysis

Although the fundamentals of ENJ are strong, the execution of ENJ’s robust platform designs does not meet the expectation of Initial Coin Offering(ICO). The gaming industry is growing at an exponential pace where Enjin enhances its growth by providing blockchain technology-based foundational tools.

These tools enable the development of video games, decentralized applications (DApps), eSports, and incentive programs. ENJ token is a way to include security and trust throughout game technology development. ENJ allows developers and gamers to utilize SDKs for a wide range of payment platforms, wallets, and languages.

This token also provides a solution to exorbitant fees and high rates of fraud in gaming. Very low transaction fees are required for Blockchain transactions. Also, the decentralized, distributed ledger technology decreases the fraud rate. Enjin also uses the JSON-RPC protocol to allow users to check account balances before, during, and after the purchase or sale of virtual goods within games such as Minecraft.

Enjin Coin Price Technical Analysis

Enjin coin’s low market cap and unambiguous use cases are experiencing market struggles. Especially during the past year, these struggles were more real. During December 2017, Enjin coin was trading below $0.50 USD and never crossing the fifty-cent limits.  

The Enjin ICO token sale took place from Oct 3, 2017, to Nov 1, 2017. With the market decline in Q1 2018, ENJ dropped in February. This hit the prices below $0.01 USD by mid-March. After which there was a short recovery, as the prices approached $0.20 USD in May. By the end of the month, the decline started slowly and it is not yet subsided since.

The crypto market in 2018 has seen a bearish trend and for no surprise, the ENJ coin also collapsed along with the rest of the market. The coin has lost 95% of its value from December.

With the start of Feb 2019, the coin is again gaining back its traction. Recently, during mid-April, the coin was trading around $0.2 resistance. This again saw a slow decrease in price and trading in the range of $0.15 resistance levels.

Enjin Coin Price Prediction 2020

In the year 2020, the entire cryptocurrency market is very likely to stabilize. This stabilization will definitely reveal a clear picture of the true value of ENJ. Suppose if the token is truly undervalued and its usability increase, you can see a healthy performance by 2020. The Enjin Coin price may reach a value of $0.25 by the year 2020.

Enjin Coin Price Prediction 2025

According to the sources, the price of ENJ coin will increase to $6.5 in the next five years. The prices could even rise as high as $10.00 in the next five years. Basically, the price forecast for crypto in the upcoming five years is extremely positive. Eventually, these forecasts are an expected recovery in the crypto market. Also, this rapidly booming industry can be of worth $170 billion USD in the next five years.

Market Price Prediction

As the crypto market is completely volatile and unpredictable, it is quite hard to forecast the price of cryptocurrencies. Basically, it is much more like a gamble and luck rather than any data-driven guesstimate.

Now is the time to glance at the eminent publications and personalities who share their predictions about the Enjin coin:

Wallet investor

Wallet investor is one such website who provide technical analysis-based predictions of various cryptocurrencies. As per the Wallet investor website, the ENJ coin may drop to $0.081 per token in a year. Hence losing all its Samsung S10 gains.

Trading Beasts

Trading Beasts is a website which helps crypto traders to learn how to responsibly trade binary options and CFDs. They expect that the Enjin coin will float around $0.17 in a year. Elaborating further they also predict that it can roughly reach $1 by 2020.

Cryptoground

Cryptoground is a popular crypto forecasting site who predicts that Enjin might stay around $0.22 by the end of 2020. Adding to this, the site also predicted the ENJ coin price for 2024, stating that it may reach $0.55 by 2024.

DigitalCoinPrice

Some sites like the Digital Coin Price have a positive prediction. This states that by the end of 2020, the ENJ coin might be twice than it is now, which is $0.44 per coin.

Our Prediction

Coinpedia offers you realistic predictions rather than fantastical, imaginative and biased predictions. This is the reason why we predict that it will be a slow start to ENJ coin price. The prices will relatively remain stable, reaching $0.18 by the end of 2019. Suppose if the bull market continues, the ENJ price may even reach greater heights of $10 or more in the coming future.  

The Conclusion

It is always better to do your own research before you invest in any cryptocurrency. It is already known that all cryptocurrencies, including Bitcoin are volatile. Also, be careful that the historical data does not indicate any future results. So, you should never invest more than you could afford to lose. Also, it is better to be prepared for the worst case to lose everything you invest.

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