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Enjin Coin priceENJ
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About Enjin Coin (ENJ)
What is Enjin Coin?
Enjin is a community gaming platform established in 2009. Founded by Maxim Blagov and Witek Radomski, Enjin has evolved to become a robust ecosystem offering a range of interconnected, blockchain-based gaming products. Initially, the company focused on the Enjin Network, a social gaming platform where users could create websites, form clans, chat, and set up virtual item stores.
In 2017, Enjin took a significant leap, positioning itself as a leading blockchain ecosystem developer. The company embarked on creating a suite of software products that facilitate the easy minting, management, and trading of blockchain assets. Witek Radomski, the co-founder, played a pivotal role in the development of non-fungible tokens (NFTs), even co-authoring the ERC-1155 Ethereum token standard. This innovation laid the groundwork for game developers and businesses to integrate tokenized digital assets into their strategies, enhancing user engagement and monetization avenues.
Resources
Official Documents: https://docs.enjin.io/
Official website: https://enjin.io/
How Does Enjin Coin Work?
At the core of Enjin's functionality is the innovative concept of tokenizing in-game items on the Ethereum blockchain. This process is facilitated through the Enjin Platform, a development environment where creators can mint new, unique fungible or non-fungible ERC-1155 tokens. These tokens, backed by Enjin Coin (ENJ), can be traded on the Enjin Marketplace or exchanged for their backing ENJ, infusing them with real-world liquidity. The platform operates through a combination of on-chain and off-chain processes, ensuring swift and secure transactions. When a transaction is initiated, a Trusted Platform communicates with the users' smart wallets, updating the game or website instantly with a placeholder until the Ethereum blockchain validates the transaction.
Enjin's "melting" functionality stands as a testament to its commitment to transparency and user empowerment. This feature allows users to destroy their blockchain assets at any time, retrieving the ENJ value embedded within them. This mechanism not only ensures the scarcity of the assets but also provides them with a reserve value, fostering a decentralized economy where assets have tangible value and liquidity.
What is ENJ Token?
The ENJ token, an ERC-20 token issued on the Ethereum blockchain, serves as the main token of the Enjin ecosystem. It acts as a digital store of value used to back the value of blockchain assets like non-fungible tokens (NFTs). Every asset minted with the Enjin Platform contains ENJ, which is locked inside the NFTs and removed from circulation, thereby establishing a reserve value and ensuring their scarcity. This unique structure gives the assets instant liquidity and utility in games and apps, fostering a vibrant economy within the Enjin ecosystem. Moreover, the ENJ token operates through a series of smart contracts, which have undergone several audits to ensure their security and reliability.
Enjin Coin’s Impact on Finance
Enjin has significantly influenced the financial sector through its innovative blend of blockchain technology and the gaming industry. By establishing a decentralized platform where virtual in-game items possess tangible value, it has effectively merged the realms of virtual and real-world economies. This groundbreaking move has unveiled fresh opportunities for monetization and investment, empowering gamers to trade and invest in digital assets similarly to how they handle traditional financial tools.
Moreover, the launch of the ENJ token has introduced a novel asset category, expanding investment and trading possibilities that were not accessible before. Given its properties that protect against inflation and its potential to encourage both liquidity and transparency in the gaming sector, the ENJ token solidifies Enjin's role as a pioneer in uniting the gaming and finance sectors. This initiative has the potential to redefine the financial framework in the forthcoming years.
What Determines Enjin Coin’s Price?
In the ever-evolving world of cryptocurrencies, the Enjin Coin price has consistently been a topic of keen interest, largely due to its deep connection with the gaming industry. The ENJ price today is shaped by a myriad of factors including its capped supply and the ongoing projects building on the Enjin multiverse. Predicting the Enjin Coin price often involves analyzing trends in the crypto market and the broader economy.
As the ENJ coin value experiences fluctuations, both enthusiasts and potential investors are monitoring the Enjin Coin price history to gauge the potential trajectory of this digital asset. Keeping tabs on the ENJ cryptocurrency price is essential, and many resort to platforms that offer real-time ENJ price analysis.
Investors who are keen on making informed decisions frequently refer to the Enjin Coin (ENJ) price chart to get a comprehensive view of its performance over time. The current Enjin Coin value is also a reflection of its growing popularity in the gaming sector, where the coin is being used increasingly for buying, selling, and trading Non-Fungible Tokens (NFTs) within the Enjin ecosystem.
At the time of writing, the ENJ market cap stands impressively at over US$240 million, showcasing its growing prominence in the crypto space. Moving forward, many believe that the Enjin Coin price forecast is promising. The platform is garnering substantial attention, receiving millions of global views per month and facilitating a booming market in virtual goods sales across Enjin community stores.
The latest ENJ price trends point towards a bright future, particularly given its potential to revolutionize the creation and management of virtual goods. Many speculate that the ENJ coin price prediction for 2023 might indicate a significant uptick, as more investors begin to recognize the potential of gaming cryptocurrencies. Keeping abreast of ENJ price updates and tracking the ENJ USD price can provide keen insights into its potential growth trajectory.
Conclusion
In the rapidly evolving intersection of gaming and finance, Enjin has emerged as a pivotal player, transforming the virtual goods marketplace with its innovative blockchain network. Founded in 2009, it has burgeoned from a social gaming platform to a blockchain ecosystem pioneer, leveraging the potential of Enjin Coin (ENJ), a robust cryptocurrency facilitating secure and swift transactions within the gaming community. Underpinned by the revolutionary ERC-1155 token standard, the Enjin platform has created a decentralized economy where in-game assets hold tangible real-world value, offering new avenues for investment and monetization. As the ENJ market cap soars beyond US$240 million, both gamers and investors are keenly watching its trajectory, with indicators pointing towards a promising future, fortified by its commitment to transparency, liquidity, and user empowerment.
ENJ to local currency
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How to buy Enjin Coin(ENJ)
Create Your Free Bitget Account
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Buy Enjin Coin (ENJ)
Trade ENJ perpetual futures
After having successfully signed up on Bitget and purchased USDT or ENJ tokens, you can start trading derivatives, including ENJ futures and margin trading to increase your income.
The current price of ENJ is $0.2105, with a 24h price change of -6.42%. Traders can profit by either going long or short onENJ futures.
Join ENJ copy trading by following elite traders.
Enjin Coin news
To enhance user trading experience, Bitget will adjust the minimum price decimal (i.e., the smallest unit price fluctuation) for 45 spot pairs from 12:00, 20 November 2024 to 13:00, 20 November 2024 (UTC). Details of the adjustment is shown in the table below: Spot Trading Pair Trading Pair Before
According to Santiment data, the list of game-themed altcoins that cryptocurrency developers focus on most has been published.
We are thrilled to announce that Bitget has launched isolated spot margin trading for HOT/USDT, RSR/USDT, ENJ/USDT. New listing perk: To celebrate the listing of new coins, Bitget will distribute spot leverage cut-rate coupons or trading bonuses to users' accounts at random. These coupons can be us
Enjin Coin Social Data
In the last 24 hours, the social media sentiment score for Enjin Coin was 3, and the social media sentiment towards Enjin Coin price trend was Bullish. The overall Enjin Coin social media score was 0, which ranks 792 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with Enjin Coin being mentioned with a frequency ratio of 0.01%, ranking 889 among all cryptocurrencies.
In the last 24 hours, there were a total of 362 unique users discussing Enjin Coin, with a total of Enjin Coin mentions of 63. However, compared to the previous 24-hour period, the number of unique users increase by 2%, and the total number of mentions has decrease by 27%.
On Twitter, there were a total of 0 tweets mentioning Enjin Coin in the last 24 hours. Among them, 0% are bullish on Enjin Coin, 0% are bearish on Enjin Coin, and 100% are neutral on Enjin Coin.
On Reddit, there were 11 posts mentioning Enjin Coin in the last 24 hours. Compared to the previous 24-hour period, the number of mentions increase by 10% .
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