Why Enjin Coin Will Skyrocket
If you are looking for the next best cryptocurrency to buy, your search ends here.
Cryptocurrencies have exploded in value over the past few years as a younger generation of internet enthusiasts devote their energies to developing new crypto offerings. Currently, there are several emerging assets in the market set to perform well in the future. The Enjin coin is one such asset. Before we understand why the Enjin coin will skyrocket in the future, let us learn about the fundamentals of the asset.
Investing in cryptocurrencies is very simple and profitable, but investors need to know about the market before investing. Cryptocurrencies are a virtual form of money. Their issuance and operating rules do not depend on a central bank or other financial institutions. Instead, they are managed by programmed algorithms.
Many trending cryptocurrencies currently on the market have appreciated radically. Enjin (ENJ) is a decentralized ecosystem built to streamline the integration of enterprise blockchain technologies. The network is referred to as a PaaS (Platform-as-a-Service) by developers due to its structure and features.
Notably, Enjin enables businesses to leverage blockchain infrastructure without the need to write any blockchain-related code. By eliminating the technical barriers associated with this, Enjin enables anyone to trade using blockchain-based strategies.
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Why Choose Enjin?
Uniquely, the Enjin development team's focus is on the gaming sector. Currently, the platform specializes in helping developers and studios to utilize tokenized digital assets in their titles. These protocols improve the UX and help cultivate acquisition, retention, engagement, and monetization strategies for developers. Consequently, Enjin has become an effective way for development firms to increase revenue opportunities and gain a competitive edge in this highly congested industry.
Enjin also operates a social aspect. For example, users can organize clans for their favourite titles utilizing the Enjin Network. At the moment, the platform supports hundreds of thousands of communities globally. Specifically, the Enjin network has expanded to include 40+ gaming firms today. In this way, Enjin connects the growing ecosystem of creators, buyers, and sellers via pioneering decentralized initiatives. These factors make ENJ a must-buy asset.
Is Enjin Going to Skyrocket in 2021?
Enjin Coin started 2021 with a trading price of $0.13. Then, on a bullish note, the price started to rise further and is trading at $1.37. The token reached its all-time high price of $4.00 in April.
The crypto community expects Enjin coin to surge to new heights in 2021. The token might continue to soar if the community concentrates on reducing the transaction fees. Also, with a wide vogue of the Enjin Smart Wallet, the coin may strike a high at $5 with further developments.
Factors That Help Enjin Surge to New Heights
#1 Returns on Investment (ROI)
Gaming platforms are increasingly including Enjin digital assets in their ecosystem because it provides vast ROI opportunities. In the past, players would spend hours building up characters. Then, when they finished playing, these characters would be relegated to oblivion. Now, these users can get paid for all of their efforts. They can build up their character and sell or trade it on the marketplace to earn profits.
Enjin’s approach is also beneficial to developers. For one, it provides them with an easy way to integrate additional monetization options. Users are more willing to pay for assets when they know they can resell them in the future. The chance of appreciation can also help developers charge more for their in-game assets.
#2 Unique features
Thanks to Enjin's unique features, it brings various benefits to the crypto community. The system is designed to remove technical barriers. Developers are free to manage, explore, distribute, and integrate blockchain assets within their games using the platform.
The intuitive interface simplifies various core development processes and allows development teams to provide new and exciting opportunities to their users.
Scalability was a concern for the Enjin development team initially. The blockchain had to handle thousands of transactions per second to operate across various gaming networks. To accomplish this task, Enjin introduces a Proof-of-Stake mechanism that validates blocks every six seconds.
The platform is now secure and highly scalable.
#4 Enjin NFTs
Enjin has taken a focus on the integration of Non-Fungible Tokens (NFTs) into the gaming sector. As part of this strategy, the network provides developers with tools to mint one-of-a-kind NFTs, which can be authenticated on the blockchain.
The group also partnered with Ludena Protocol, the publisher of the social gaming platform GameTalkTalk recently, to boost NFT awareness in South Korea.
ENJ stakers earn fees for helping to secure the network. These fees are derived from a percentage of the network fees, marketplace commissions, cross-chain bridging tolls, and smart contract fees. When you stake your ENJ tokens, you agree to leave them locked-in network smart contracts for a preset time. In addition, you receive rewards in the form of cryptocurrency for your participation. These rewards are based on the number of tokens you stake.
Why Enjin Will Skyrocket: Expert Predictions
According to TradingBeasts, the Enjin Coin price is forecasted to reach $1.35439 by the beginning of December 2021. The expected maximum price is $1.71256.
ENJ is forecasted to reach $1.37005 by the beginning of January 2022. The expected maximum price is $1.73.
Should You Invest $1000 in the Enjin Coin Right Now?
Similar to other digital assets, the price of ENJ has been a bit volatile this year. So potential investors must stay conscious of this and consider ENJ a part of their broader diversified crypto portfolio. That said, the Enjin coin is likely to outperform several other digital assets. So investing in ENJ now could be a great idea.
Evaluate your risk appetite before investing $1000 in any crypto asset.
The Bottom Line
The crypto market sees thousands of crypto assets emerge regularly. Investors must know the asset that they want to buy. For instance, the Enjin coin has solid fundamentals, and per technical analysis, it is expected to reach new highs soon. Experts are increasingly recognizing the potential in this asset. For this and other reasons, the Enjin coin will skyrocket in the future.
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Virtual currencies are highly volatile. Your capital is at risk.