Enjin is a for-profit company founded back in 2008, aiming to create a community-based gaming platform. At its core, Enjin is the software that allows users to create, store and manage virtual assets on Ethereum. These assets can range from gaming NFTs like swords and diamonds to in-game currencies designed to be traded in the game. To make an accurate Enjin price prediction, we first need to see how the platform operates.
Enjin enables developers to develop their gaming environment on Enjin and create in-game tradable assets. There are five stages developers need to go through to mint and destroy their gaming assets:
Enjin’s team have created various SDKs (Software Development Kits) to enable these functionalities, along with APIs to deploy these items in the game. Enjin also has its own wallet to make these functionalities more convenient.
Enjin’s native wallet allows users to store and trade their in-game assets and works like a chain that connects other parts of the platform. Enjin wallet allows players to sell their assets to receive ENJ, trade coins and assets outside of the gaming environment, connect to multiple games and store different game assets all in one place.
To make an accurate Enjin price prediction, we need to take a look at its price when the token was first introduced. Enjin launched an ICO for its ERC-20 utility token ENJ, which started on Oct 02, 2017, and ended on Nov 01, 2017. The main currency used in the ICO was ETH, and one ETH was equal to 6000 ENJ tokens. Enjin’s main goal was to raise $25 million, and it raised about $23 million, which is 92% of what Enjin initially aimed for. Of 1,000,000,000 tokens, 40% were available for sale in the ICO.
At the time of writing this post on Sep 13, 2022, Enjin has an average trading price of $0.5, with a market cap of $546 million. Enjin has the rank #90 in market cap rankings. To make an accurate Enjin price prediction, we need to look at its price trend. Enjin token is currently down by 88.7% from its all-time high of $4.82 (on Nov 25, 2021), but it’s up by 2818.9% from its all-time low of $0.01 (on Nov 12, 2017.
Currently, the Enjin token has a liquidity score of 56% and a yearly ROI of -68%, meaning if you had invested $100 in Enjin a year ago, you would’ve had $32 left. That is why it’s essential to use the ARC strategy to manage risks in crypto investments. The ARC strategy is an investment method which follows the saying “not putting all your eggs in one basket”.
To make a practical Enjin price prediction that stays accurate in the long run, we need to look at its social media channels and marketing activity because marketing is the key when it comes to cryptocurrency projects. During the past six months, Enjin has seen a 4% growth on Twitter, 1% on Reddit, and 15% on Telegram.
Disclaimer: Don’t take this article as financial advice. You need to DYOR (Do Your Own Research) before investment.
The crypto market is very volatile in general, and with a little announcement from a government or a project, prices can crash or pump quite easily. There are websites like priceprediction.net that use algorithmic and mathematical calculations to calculate the price of an asset in the near future. Let’s take a look at Enjin price prediction with a bit of help from such tools.
Experts predict that the average trading price of Enjin can be $0.79 this year. It can reach a maximum price of $0.83.
In 2023, the Enjin token can have an average price of $1.11 and a maximum price of $1.31. Enjin token can be $1.07 at minimum in 2023.
According to experts’ opinions about Enjin price prediction, the Enjin token can have a price of $1.84 at max. It can be $1.58 at the minimum and an average price of $1.64 throughout 2024.
According to data aggregators, the Enjin price prediction for 2025 is as follows: Enjin tokens may reach an average price of $2.36. Its maximum price could go up to $2.75, and it can fall as low as $2.29.
It’s no secret that the crypto market is volatile, and gaming crypto projects like Enjin are no exception. They have the potential to do both 5x and -5x in a short time span. However, it is also crystal clear that the gaming industry is a promising investment option in the long run. Enjin consists of a team who have been in the industry since 2008, and according to Enjin price prediction, Enjin may be a reliable investment for the long term but not so juicy for short-term investments. If you want to find more crypto projects like this and find out if they make a good investment or not, our news section has you covered! Cryptologi.st offers various investment tools for FREE, so you can make sure you make confident crypto decisions!
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