Is Enjin Coin (ENJ) Running Out of Steam?


Enjin Coin represents the token used within Enjin, an online gaming platform built over the Ethereum Network.

Enjin is also one of the first projects to implement Ethereum’s version of the Lightning Network; Raiden Network.

Being a project built out of Ethereum, Enjin possesses similar qualities to its mother chain like its mother chain.

Enjin is one of the fastest growing blockchain platforms and arguably the largest community gaming platform based on blockchain.

Enjin houses an estimated 300,000 gaming communities and over 20 million registered gamers on the network, and the project is just seven months old.

The Enjin Platform

The Enjin platform was launched in November 2017 and was immediately greeted with pervasive acceptance by gamers and crypto enthusiasts alike.

Enjin Coin (the in-platform token) was designed around games and virtual goods within the Enjin ecosystem with the goal of making the cryptocurrency the most usable digital asset in the gaming industry.

One key feature behind the growth of this project is the integration of API (Application Programming Interface) and SDK (System Development Kit) functionalities.

SDK and API allow developers to integrate Enjin’s suite into their games and gaming communities, and create cryptos in their games/communities which are similar to Enjin Coin.

The Enjin Team also designed a smart wallet to go with the platform.

The Enjin Smart Wallet supports virtual goods and assets from every trusted gaming platform allowing users to buy and sell collectibles, assets, and goods found in different gaming communities, making it a market for countless gaming communities.

Market Status and Value of Enjin Coin (ENJ)

The crypto market continues to reclaim lost grounds today, as over 65% trading cryptocurrencies opened today trading in the green.

Enjin also joins the huge chunk of the market with positive values today, rising by a fraction 0.67% over the last 24 hours.

As at the time of this writing, Enjin Coin (ENJ) has a trade – exchange value of $0.0707 USD.

The recorded daily trade – exchange volume of ENJ is estimated at $1.71 million USD, which is within its regular range.

Enjin Coin is ranked as the 160th largest cryptocurrency with a market capitalization of $53,494,724.

A couple of months back, Enjin’s membership base was growing at a tremendous rate, and the Enjin Coin comfortably led bull runs while other assets were nosediving, however, those figures are looking flattened out and those days seem like they are over.

As a result, users are asking if there is still enough steam for Enjin coin to continue on the fast lane as it started.

Is Enjin Coin (ENJ) Running Out of Steam?

The reception and almost immediate popularity of the Enjin platform helped the Enjin Coin (ENJ) to take an early quantum leap in prices, growing to become one of the biggest blockchain based gaming communities.

Enjin would not be able to replicate that form of skyrocketing prices and membership base, but the project has and will continue to grow at a steady pace.

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