Is Engine Coin (ENJ) obsolete? We will explain the characteristics and future prospects of virtual currency. Compared to other coins, Enjin Coin tends to have slightly higher volatility, and it also tends to fluctuate a little more. Will this coin end? is summarized as an article.
What is Engine Coin (ENJ)? Features and mechanism
Enjin Coin (symbol: ENJ) was developed by Enjin Pte. Ltd., a blockchain ecosystem developer based in Singapore. In 2017, we conducted an ICO and raised $18.9 million, and this project was started using this money. The operator, Enjin, was founded in 2009 and is a development team comprised of members from over 20 countries. The coin was created by this team.
Enjin Coin content refers to the virtual currency used by this development team’s “Enjin Platform.” Since it entered the market in the 2020s and the price has increased, it has attracted attention in Japan from around 2021. Some people took this opportunity to start. The official website also has information, so please refer to the table below. Even with the smartphone app, players can aim for the highest returns through gaming throughout the year. We will introduce the features based on the information provided.
| Symbol | ENJ |
| Brith Date | 2017 |
| Developer | Enjin Pte. Ltd. |
| Market capitalization | $386.17M USD (2024) |
| URL | Home |
| X、Twitter | Home |
Enjin Platform
The Enjin Platform is a platform created by the development team mentioned above. It is used as a gaming platform and has approximately 20 million users worldwide. You are given basic Enjin Coins when you acquire, buy and sell in-game items, or receive rewards. Therefore, Enjin Coins can of course be converted into cash, so it is a must-see. The Enjin Platform provides users with RPGs, FPS, and a wide variety of card games. It has strengths in important game development. As the construction progresses digitally, the evaluation of each game will also increase.
Earn tokens in-game
As mentioned above, tokens can be earned in-game. It can be said to be a very valuable token in the game. Therefore, you can rest assured that there is no need for poor investment. You can make a profit by selling when the value increases. If you acquire knowledge, prepare, and play the game, you can earn money by playing the game. Due to this background, it can be purchased at many exchanges, including Coincheck. Many people send money from Metaverse.
Coins contributing to NFT
Enjin Platform also allows you to create NFTs. NFTs can now be sold on the NFT Marketplace. Also, by utilizing blockchain technology, ownership and transaction history can be recorded. It can also be used as a tool that allows anyone to easily create and issue NFTs. Recently, there has been a demand for it because you can create and use it online for various purposes, and it has attracted attention and become popular all over the world, creating a huge boom.
working with companies
Enjin Coin is highly reliable because it has partnerships with multiple companies, including Minecraft. It is currently partnered with many game companies and is supported by them. As development continues, further growth and investment is expected. Since it is a game, it is easily recognized and people are becoming interested in it. As understanding spreads, buying and selling will increase and more people will consider trading. It will be chosen as a way to make money, and the economy will be revitalized.
Future outlook and prospects
So what kind of future is Enjin Coin expected to have? Some investors predict that this currency is overdone and will crash in the future, but what is the reality? If you have a new investment opportunity, consider buying it. It has a proven track record in the market and is one of the leading altcoins, along with Polkadot, Litecoin, and Monacoin. Although there are fees, we recommend opening an account and investing.
Current chart fluctuations
The current market price is shown on a monthly chart. In the past, until 2018, it was generally sluggish and there was not much movement, but the current price from 2024 onwards has been around 45 yen. From 2021 to 2022, the price rose sharply and reached its highest level, but since then it has fallen again and settled around the current price. However, prices are stable and may rise again in the future. It will be influenced by new development releases and announcements.
Source : https://coinmarketcap.com/
Usage is limited
In terms of the future potential of Engine Coin, there is a disadvantage that its usage is limited. This is because this coin is limited to being able to interact with virtual currency while enjoying games and creating NFTs, and is completely specialized for online games, so it is difficult to gather support from a wide range of fields. there is. Additionally, Enjin Coin can only be used in the blockchain gaming industry at this point, so this is also a limitation.
Will there be more partnerships with companies?
Whether this coin will rise again in the future depends on whether it can increase its partnerships with major companies. Microsoft and Samsung, which partnered in 2019, are the main players, but if investment from other major companies expands and increases, the number of external companies and individuals investing in this attractive coin will increase. The number of spot transactions of the product will also increase, and price movements will change. There are no plans for delisting, so it will not be significantly unsold. There is a possibility that the number of users who will collect it will increase in the future.
Go to categories other than games
Currently, the Enjin Coin development team is developing a real estate system. If it becomes possible to actually reuse or replace the system in other fields after 2025, Enjin Coin may attract more attention than it does now, and investment is expected from more fields. It may become a new trend not only in playing digital games but also in other fields in the future. It is a hot topic token whose trends are attracting attention. The name may become more well-known in the future? If you are interested, you can order it along with BTC, XLM, etc. and hold it by staking.
Recommended virtual currency exchanges where you can purchase ENJ
Finally, I will introduce virtual currency exchanges where you can actually purchase this virtual currency. We have compiled the information for your reference. We have selected recommended exchanges that cover Bitcoin, altcoins (Ethereum (ETH), Tether, etc. (USDT), Ripple (XRP)), and where you can invest in a large number of coins. It is an exchange where you can trade using an app or a computer. Each has its advantages and disadvantages, but there is no risk and you can make a large profit by making payments. It is safe because a loss cut is adopted when the amount of loss exceeds a certain amount.
Bybit
Bybit is a cryptocurrency exchange established in Singapore. However, it later moved its base to Dubai and is a virtual currency exchange that is expanding globally. The leverage is quite high at 100 times, and the number of coins handled is over 300, so it is quite fulfilling. Overall, there are plenty of big campaigns and bonus services, which is a plus.
| Exchange | Bybit |
| Location | UAE |
| Coin | 300～ |
| Leverage | 100x |
| Commission | Maker：0.1% Taker：0.1% |
| URL | Home |
MEXC Global
MEXC Global is a virtual currency exchange established in Singapore, Asia. The main users are Japanese, but it is spread all over the world and millions of users transact every day. It handles over 1500 virtual currencies, and you can also speculate on unknown coins, so it is recommended. The maximum leverage is 200x. News also provides information on coins that are attracting attention.
| Exchange | MEXC Global |
| Location | Singapore |
| Coin | 1500～ |
| Leverage | 200x |
| Commission | Maker：0.010% Taker：0.050% |
| URL | Home |
Gate.io
Gate.io is a virtual currency exchange established in China and may have a suspicious image, but it is currently based in the Cayman Islands and is very safe. It handles the largest number of coins in the world, with over 1,700 issues, making it the most recommended exchange for those who want to speculate. We also communicate through the media when new listed coins are released.
| Exchange | Gate.io |
| Location | Cayman Island |
| Coin | 1700～ |
| Leverage | 125x |
| Commission | Maker：0.15~0.2％ Taker：0.15~0.2％ |
| URL | Home |
KuCoin
KuCoin is a virtual currency exchange established in Hong Kong, but has now moved to the Seychelles Islands. We have successfully expanded globally as a virtual currency exchange that is traded by 8 million people around the world. You can invest in over 700 virtual currencies. The operation is thorough in verifying the identity of the user, and funds can be deposited at a financial institution and international remittances can be made to the wallet.
| Exchange | KuCoin |
| Location | seychelles |
| Coin | 700～ |
| Leverage | 100x |
| Commission | Maker：0.1％ Taker：0.1％ |
| URL | Home |
BitGet
BitGet is a cryptocurrency exchange established in Singapore. Currently, there are millions of users around the world, and it is popular because it has very solid security. The latest copy trading has been introduced in the industry, and it is very famous and has a large number of registered and participating users. The amount of money will increase because you imitate the buying and selling details of experienced traders, both short-term and long-term. You can increase it starting from a small amount.
| Exchange | Bitget |
| Location | Singapore |
| Coin | 700～ |
| Leverage | 125x |
| Commission | Maker：0.1％ Taker：0.1％ |
| URL | Home |
Points to note when trading virtual currency
One thing to keep in mind when trading virtual currencies is that taxes are payable when profits are determined, not losses. Please be aware that if you make a similar profit on overseas virtual currency exchanges, you will be required to file a tax return in the future. Downloading transaction history is also popular and quite convenient, and the technology and functions have progressed considerably. If you are buying in cash, be sure to check as there is a possibility that the prices of the stocks you are holding have soared without you knowing. Please also check the terms of use online.
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