Can Enjin Coin Reach 100 Dollars?
Non-fungible tokens (NFTs) grew in popularity among buyers and the general public. Enjin (ENJ) has been a leading force in the NFT space since 2017, encouraging developers and users to launch their own NFTs.
The Enjin is a one-of-a-kind project in the world of traditional cryptocurrencies. Enjin aims to create a path for users to experience digital facts! More than the simulated world, these new realms will encourage us to create real-world value while having some fun.
The coin has piqued the interest of many investors as well as gamers. Now that we’re on the subject, what is the possible Enjin price by the end of the year? Will the entire world adopt gamification? Please visit our website for the most recent information, ENJ Price Analysis, and a long-term Enjin Coin Price Prediction!
Is Enjin Coin is a Cryptocurrency?
Enjin Coin is a virtual currency designed specifically for gaming. The coin powers Enjin’s platform. Users can use ENJ to buy and sell legitimately valued in-game items. The platform is supported by smart contracts, which provide the necessary tools for managing virtual goods to game makers, content producers, and gaming communities.
Through a process known as “minting,” Enjin Coin is infused into NFTs. Users and other projects can create their own NFTs using the platform.
With price increase partnerships, the Enjin blockchain has gotten a lot of attention, and now ENJ investors are wondering if Enjin will ever reach $100.
The answer is that Enjin token prices are very likely to rise steadily over the next few years, eventually breaking through the $100 mark. After more than 3 years of low blockchain activity and saddening token prices, the crypto community believes Enjin has hit the jackpot in NFT, which is anticipated to accelerate its value to unimaginable heights.
These professionals also recognize that there have been numerous developments on the Enjin blockchain, which have played (and are expected to continue to play) a significant role in increasing ENJ coin prices. Enjin, for example, collaborated with Microsoft in February of this year to develop a cross-platform for NFTs. JumpNet and Efinity, two NFT-focused blockchains, were announced in March by blockchain technology.
These and equally significant collaborations with Samsung and PC Gamer played an essential role in igniting the early 2021 ENJ coin price rally. After beginning the year at $0.13, ENJ token prices increased by more than 3000 percent by the 9th of May, reaching $4.0.
For a cryptocurrency that has battled with sub-$1 prices for the most extended period, the beginning of 2021 price increase indicated that it has just what it takes to reach new heights of success. According to some experts, this could be worth more than $100 in the coming years.
When and How can we expect it to achieve this target price? Is ENJ on track to hit $100?
If you want to buy this cryptocurrency, I believe you should do so for the long term (for more than 5 years).
Their business case appears to be very strong, and I recommend that you visit their official website to learn more about it.
The truth is that no one can predict when Enjin will reach $100 with any degree of certainty. Some cryptocurrency community members aren’t even convinced that Enjin has what it takes to reach or exceed $100 anytime soon. The few who believe the coin will break through this coveted price level within the next decade.
Both camps, however, acknowledge that the crypto industry is highly volatile, and trader sentiments are volatile. This has been reflected in most price predictions and expert opinions about Enjin coins.
But, before we take a gander about what specialists have to say about Enjin’s $100 campaign, we must ask ourselves if a $100 price tag for one ENJ token is realistic.
Yes, that is the answer. Consider this: With a maximum token supply of one billion Enjin tokens, this price would give Enjin a market valuation of only $100 billion. This amounts to less than 6% of the current total market capitalization of the cryptocurrency industry.
However, the non-peak barrier is impeding Eniin’s progress towards this price level. You’re probably aware that speculative shareholders and the implementation of a coin as an investment scheme impact most of the price action in the cryptocurrency markets.
However, due to its recent depressing price action, ENJ hasn’t attracted sufficient demand from either investors or the developers to cause a significant price increase.
This is expected to change shortly as Enjin blockchain shifts its focus to digital collectibles, known as Non-Fungible Tokens. Much has been written about NFTs in recent months, and it is clear that the market is set to explode in the coming years. Some experts, such as William Quigley, a crypto business insider and co-founder of Tether Stablecoin, are incredibly bullish on NFTs. They will also become indispensable within the next ten years.
Enjin has an advantage in the upcoming “NFT Explosion,” which will propel both the blockchain as well as its token prices to unprecedented levels, thanks to its active involvement in the NFT niche. Just as the DeFi explosion propelled cryptocurrencies like Uniswap to new heights, and NFT blast may give ENJ coins a boost toward the $100 mark if it occurs.
However, most analysts and price prediction websites do not believe ENJ would ever reach $100. According to the most optimistic forecast from the Cryptocurrency Price Prediction website, the most outstanding price level the coin can reach between now and 2030 is $100.
Competition on Enjin
Enjin is up against a slew of competitors, including most NFT-related cryptocurrencies. Because the cryptocurrency world can allow different NFT projects, Enjin can succeed even if it does not finish first. Some NFT game platforms may collaborate rather than compete with Enjin.
Because it benefits from every game built on its network, Enjin is more likely to coexist with blockchain gameplay than most competitors. If an increasing number of developers decide that it is not worth the effort to create a unique virtual economy, Enjin may be their best option.
So far, it appears to be the most popular project for facilitating these tournaments, but unless a better solution emerges soon, Enjin may quickly become the taking network.
What Happens If Enjin (ENJ) Breaks $100?
Many things might happen if Enjin coin prices reached $100 over the next few years, including:
- First, corporate institutions intrigued by NFTs and more gaming industry payers will have adopted the Enjin blockchain. And, if the NFT niche expands as expected, Enjin is likely to capture the attention of a slew of companies looking to work collaboratively and partner on various NFT-related projects. The ENJ cryptocurrency is valued at $3.09, implying that it would need to increase by 3136.25 percent to reach $100.
- ENJ can be required to post appealing price movements on its way to this goal, attracting many based on speculation investors whose haggling over the proper ENJ coin price levels will help propel altcoin prices to new highs.
- In its quest to establish itself as the blockchain for the amusement and NFT industries, Enjin blockchain will face stiff competition from rivals Tron. A $100 billion market cap would thus lend credibility to its console and give it a competitive advantage.
To get to $100, Enjin must first attain and break above $10, which most experts believe will happen soon. However, is it possible that ENJ will reach $10 before the end of the year?
How to Buy Enjin Coin in the Best Way
To purchase an Enjin Coin, you must first create an account with one of the many platforms that sell the coin. Large cryptocurrency exchanges such as Binance and Coinbase support Enjin. Coinbase allows you to purchase Enjin using funds from a bank account and other cryptocurrencies that you may already have on Coinbase. ENJ can be bought on Binance using either Bitcoin or Tether. Tether is linked to the US dollar.
After that, you can keep your Enjin coins on a return or offline. Because exchanges are susceptible to malware, it is suggested that you store your coins inoperable in crypto wallets.
Enjin Coin is an excellent Investment
Enjin raised millions of dollars in a private token sale led by DFG Group and Hashed in March 2021. The funds will be used to help it migrate its forthcoming blockchain-based Efinity to Polkadot. This is done to avoid increased gas fees on the Ethereum platform and improve the scalability of NFTs. Efinity is scheduled to be released later this year.
The Enjin platform is expected to gain value due to new projects, improvements to existing projects, and the growing popularity of mobile and online gaming. Enjin Coin appears to be a good investment as a result of this.