Enjin (ENJ) Price 2020
The current price of Enjin Coin fluctuates around $0.081606; the total market capitalization is $65,954,197 or 7,576 BTC, which makes Enjin Coin one of the 70 most popular digital currencies as of January 2020. The circulating supply is 799,438,521 ENJ, while the total supply of ENJ is 1,000,000,000 coins. The daily trading volume is around $7,831,535 or 899.61806126 BTC. Enjin Coin is trading on several major markets, yet the most active exchange that trades ENJ is Binance.
The all-time high of Enjin Coin, $0.493384, was reached on January 7, 2018 – during the most famous cryptocurrency bull-run of Winter 2017-2018. On the other hand, the all-time low of ENJ, $0.015620, occurred way back on November 2, 2017. Currently, the estimated ROI (return on investment) of Enjin Coin is 239.40%, which means that $100 worth of ENJ bought at the time of the Enjin Coin launch would yield around $239 of profit today.
As a coin that was designed specifically for the gaming industry, Enjin coin has experienced several problems on the market. The low market capitalization of ENJ (merely three percent of the Bitcoin’s), together with the unambiguous use case, had a great impact on the coin’s history in 2019.
At the height of the cryptocurrency market in December 2017, the coin was trading just below 50 cents, never being able to reach higher. It is worth noting that just one month before that, the ICO (initial coin offering) of ENJ, running from October 3, 2017, to November 1, 2017, was finished.
With the subsequent correction phase and stagnation of the whole cryptocurrency market in the first quarter of 2018, Enjin Coin kept falling through February. Already by March, the price went below $0.01, which marked a 50-fold decrease in just a couple of months. In May, a short recovery brightened the price charts of the majority of cryptocurrencies, and ENJ was no exception. The price went back as high as $0.20. However, it was at the end of the month that a slow but steady decline hit the price of the coin, and ENJ has not been able to get rid of it since.
A bearish trend took over Ethereum-based tokens and, in general, the major part of the market throughout 2018. It is thus no surprise that ENJ, an ERC20 token, collapsed together with the rest of the market. In terms of price dynamics, 2019 was significantly more turbulent, with the price of ENJ reaching a local maximum of 17 cents in March and keeping fairly stable throughout the summer. After that, a steep downtrend took over Enjin Coin, and by the end of the year, the price was back to the 5-cent mark. It has to be noted though that the coin has been showing resilience and even a modest uptrend since mid-December.
The Enjin platform combines flexibility with and innovativeness. Enjin fills a need in the gaming industry while also providing added versatility. However, the coin price could also turn in the opposite direction in 2019, particularly in case another bear market takes over the cryptocurrency market, or if there are substantially negative news from the platform. Nevertheless, the overall consensus among experts is that the coin will stabilize in 2020 and might even see a healthy performance, reaching up to 20 cents again.
What is Enjin Coin (ENJ)
Enjin is an information technology company and an eponymous gaming-oriented blockchain. The platform enables game development, as well as the creation of websites, stores, and various other gaming-service products. The company is fueled by its internal cryptocurrency, Enjin Coin (ENJ). Designed to mediate and secure financial transactions within the decentralized platform, Enjin Coin strives to bring blockchain technology to gamers.
According to the developers, the main goal of Enjin is to protect and secure data and intellectual property. With 20 million gamers currently registered with Enjin and 250,000 gaming communities under its umbrella, the platform appears quite stable and is one of the largest gaming-oriented blockchains.