What Will Enjin (ENJ) Be Worth in 10 Years?
The general feeling is that ENJ token prices will continue rising over the next few years and experts are confident it could be trading between $55 and $80 in the next 10 years. They are confident that ongoing developments within the Enjin ecosystem and in the crypto space will create the thrust ENJ coins need to rise steadily over the next decade.
At the time of writing this, the Enjin coin is ranked 70th on CoinMarketCap's list of largest cryptocurrencies. It has had a hugely successful year that saw its prices soar and set an all-time high of $4 before consolidating and settling around $1.48 today. Much of this value gain was made possible by a rallying crypto market and a revamped and Enjin Blockchain.
As the network announces additional upgrades and updates and the crypto market volatility ranges on, analysts are wondering what ENJ will be worth by the turn of the decade.
In this article, we will be exploring what ENJ may be worth in 2030/2031 by looking at different crypto analysts and technical analysis reports. We will also be looking at the factors that analysts believe will influence ENJ prices and tell you if the altcoin will ever reach $100.
Enjin (ENJ) Price Prediction for 2030 -2031
Enjin coin is currently trading above $1.60, according to data from CoinDesk. It is up by more than 5.8% in the last 24 hours, and it seems to be creating the base for an uptrend seeing that this price has risen steadily in the last three weeks after the $0.92 dip on 20th July. But it still is trading about 60% below its 9th April all-time high of $4.0.
Moving forward, most experts are convinced that the ENJ coin will sustain the uptrend that will push it to parabolic heights in the next few years. Some, like the analysts at RepublicWorld, are convinced that both Enjin network and Enjin coin are massively undervalued, especially when you take into account the traction that NFT technology has been getting in the year and is expected to arouse moving forward.
In the next ten years, therefore, they expect ENJ coin prices to embark on a wild rally that carries the altcoin’s value to unimaginable heights. The sentiment is shared across the crypto market, but different analysts and technical analyst reports have varied opinions on the rate with which ENJ coin’s value will appreciate for the next 10 decades.
The technical analysis website, CryptocurencyPricePrediction, is most optimistic about Enjin coin’s future price action and indicates that the Enjin altcoin may break above its current all-time high by May next year before rising above $62.29 by December 2030.
Gov Capital is equally optimistic about Enjin coin’s future price performance. Through the use of technical analysis and machine learning, the price prediction site indicates that ENJ coin prices may rise 700%+ and reach $11.40 within the next five years. Assuming that it maintains its growth rate and pushes this value by a further 700%, we could expect Enjin ENJ to trade around $80 in mid-2031.
The ICO Creed website is also convinced that Enjin is destined for a bright future. Using a mix of technical analysis and fundamental analysis tools, crypto experts here believe that ENJ coin could be trading at between $59 and $68 in December 2030.
Looking at these attractively high ENJ coin price predictions, we can’t help but wonder what factors will drive ENJ price to the forecasted heights.
Read More: Enjin Price Prediction for 2025 and 2030
Factors That Will Determine Enjin (ENJ) Price in 10 Years
Several factors played a key role in reviving ENJ prices and fuelling the early 2021 Enjin coin prices. For the next 10 years, these intrinsic and extrinsic factors are expected to continue playing a key role in influencing the Enjin coin price direction.
These factors include:
Network upgrades and updates
The Enjin network is undergoing rapid transformation and working towards becoming a fully functional multi-chain ecosystem. It currently is working on rolling out two blockchains; the NFT-dedicated blockchain capable of supporting “features and assets from any blockchain” but hosted on Polkadot and JumpNet - a highly scalable bridge network that improves transaction speeds on the Enjin network. As these continue attracting more users, they will help ignite demand for ENJ coins which pushes up its prices.
After the ICO craze and the DeFi explosion, most experts now believe that NFTs will be the next big thing. And Enjin is laying the groundwork in trying to make their blockchain as NFT-ready as possible. It started by ensuring that every asset minted on the Enjin network contains a minting resource that is then locked in an NFT, effectively giving it a reserve value.
Most recently, it launched the Efinity blockchain dedicated to facilitating NFT transactions from all blockchain and expanded its network’s scalability through the launch of the JumpNet bridge. Should the NFT niche explode as expected, it will make the Enjin network popular and catapult the ENJ token prices to unimaginable heights.
In as much as the NFT technology is expected to play a leading role in influencing EN token prices, the performance of the crypto market is also expected to influence ENJ token prices greatly moving forward. Looking at the ENJ token price charts, you will notice that the coin prices have risen when the crypto market rallied and dropped when it crashed. This is expected to continue in the foreseeable future.
Crypto regulations - proposed and effected - in crypto powerhouses like the U.S, China, and Europe are expected to continue playing a key role in determining the coin’s future. While they may not touch on ENJ tokens directly, their impact is expected to reverberate across the industry and affect the price performance of every coin and token.
Will Enjin (ENJ) Ever Reach $100?
It is highly likely that Enjin will eventually reach and probably rise above$100. Both the crypto experts and ENJ investors are convinced that ENJ token’s value will continue rising as the NFT craze gains momentum and as the Enjin updates its ecosystem to match the needs of the future crypto investor/trader.
However, as things stand today, most analysts can only see the token rising above $100 in the next decade. But this is expected to change, and ENJ token prices may break above this target price within the next 5 years if the NFT explodes as anticipated.
Conclusion: What Will Enjin (ENJ) be Worth in 10 years
Based on multiple crypto analysts and price prediction websites, Enjin ENJ coin price will continue rising in the foreseeable future and will most probably be trading at between $50 and $80 in the next 10 years. Much of this value growth is expected to be driven by the ongoing Enjin network upgrades, stable-to-improving crypto market conditions, and an exploding NFT space.
In light of the prevailing market conditions, however, the larger section of the crypto community doesn’t believe that the Enjin token can reach $100 in the next 10 years. But they are also optimistic that if the NFT explosion is as successful as the ICO and DeFi eras, Enjin may break above this elusive price level sooner than expected, possibly in the next 5 years.
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