Can Enjin Coin Reach $1000, $100, $10?
Latest Enjin Coin Price
Enjin Price Performance so far
| Last 7 Days | +16.3% |
| Last 1 Month | +41.0% |
| Last 12 Months | -30.8% |
| Since Launch (2017) | +1190.3% |
Enjin has updated its Wallet Daemon to streamline game development and NFT distribution with enhanced security features. The Daemon is an infrastructure component that automatically signs transactions for games on the Enjin Platform, eliminating the need for manual processing and enabling instant asset reception for players. With the upgrade, the Daemon now offers a visual user interface, accessible even to those with minimal development expertise, thereby simplifying its use and management. This improvement not only augments user experience but also bolsters security by allowing better control and access segmentation to the automated signature generator, mitigating risks associated with poor user experience in blockchain tools.
Can Enjin Coin Reach $1000?
In order for ENJ to reach $1000, it would need to increase by a factor of 3,952. At $1000, Enjin Coin’s Market Cap will be $1 Trillion. If ENJ were to grow at a rate of 25% each year, it would take about 37 years to reach $1000. Let us evaluate this data
- Quality of Investment- Moderate
- Growth required to reach $1000- Too High
- Market Cap at $1000- Not Feasible
- Time required to reach $1000 if it were to rise at 25% per annum- Not Feasible
Considering the criteria Quality of Investment, growth required and time required, ENJ cannot potentially reach a price as high as $ 1,000 in the near future.
Can Enjin Coin Reach $100?
In order for ENJ to reach $100, it would need to increase by a factor of 394. At $100, Enjin Coin’s Market Cap will be $99 Billion. If ENJ were to grow at a rate of 25% each year, it would take about 26 years to reach $100. Let us evaluate this data
- Quality of Investment- Moderate
- Growth required to reach $100- Feasible (Example: Bitcoin was priced at $0.1 in October 2010. 12 years later, It is 22000 times higher)
- Market Cap at $100- Too High to reach
- Time required to reach $100 if it were to rise at 25% per annum- Not Feasible
Considering the criteria Quality of Investment, growth required and time required, ENJ has a low chance of reaching $100.
Can Enjin Coin Reach $10?
In order for ENJ to reach $10, it would need to increase by a factor of 40. At $10, Enjin Coin’s Market Cap will be $10 Billion. If ENJ were to grow at a rate of 25% each year, it would take about 16 years to reach $10. Let us evaluate this data
- Quality of Investment- Moderate
- Growth required to reach $10- Feasible (Example: Bitcoin was priced at $0.1 in October 2010. 12 years later, It is 22000 times higher)
- Market Cap at $10- Feasible
- Time required to reach $10 if it were to rise at 25% per annum- Partially Feasible
Considering the criteria Quality of Investment, growth required and time required, ENJ can potentially reach a price as high as $10. However, the actual timeframe may vary.
Conclusion: Can Enjin Coin reach $1000, $100, $10?
Enjin’s main use case is to create and manage NFTs by the users. In today’s time, there are already many NFT marketplaces that allow the creation, buying, and selling of NFTs, such as Opensea, Coinbase NFT etc.
Overall, Enjin Coin could potentially hit $10. However, getting to $1000 or even $100 seems pretty challenging for ENJ.
Can Enjin Coin reach $1000? Introduction to Enjin
Enjin is a blockchain platform designed for the development, management, and trading of digital assets. Tailored for game developers, Enjin offers seamless integration of blockchain into games and apps, permitting the creation of in-game items, collectibles, and virtual currencies. Notable projects associated with Enjin include VRJam, Azure Heroes, Lost Relics, The Six Dragons, 9Lives Arena, and Forest Knight.
The NFT gaming market is a fusion of gaming and blockchain, experiencing a significant surge. In 2021, the overall NFT sales skyrocketed past $10 billion. Within this ecosystem, games like Axie Infinity and Decentraland have emerged as heavyweights. As of September 2021, DappRadar reported Axie Infinity, NBA Top Shot, and Bored Ape Yacht Club as the top 3 NFT games in terms of user count.
ENJ, Enjin’s native coin, has diverse applications within its ecosystem. It facilitates transactions, such as asset creation and trades. Developers can integrate ENJ as an in-game currency for players to buy in-game assets. Additionally, ENJ can be offered as a token reward for game achievements or used in staking for earning rewards on the platform. However, despite a rise of 982.5% since its 2017 launch, it’s considered a moderate investment due to competition from blockchain giants like Polygon Matic, Solana, and Avalanche.
~Charu Taneja
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Coins. Please consult a registered investment advisor to guide you on your financial decisions.