What is Enjin Coin (ENJ)? | Gaming Innovation

In this article, we offer an overview of Enjin Coin (ENJ), including technical analysis, partnerships, recent updates, and reasons why you should be interested in buying the cryptocurrency.

Ten Reasons To Buy Enjin Coin
  1. Enjin Network is a social gaming platform on which users can create websites, chat, and host virtual item stores. The network is playing a great role in connecting users, especially in the current social distancing climate.
  2. The Enjin platform allows you to create and manage blockchain games smoothly by building and maintaining your own blockchain infrastructure. This feature is very helpful to build a highly customized game as per your area of interest.

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3. ENJ helps game developers to utilize tokenized digital assets, and they are able to build monetization strategies.

“Remember those days when we used to collect different virtual coins by playing different Games and enjoy becoming Rich virtually and spend them according to our interests. Enjin reminds us of those Gaming days which we still miss sometimes”

4. ENJ has great benefits like fast transaction speeds as well as the ability to create your own characters, weapons, real estate, and other gaming assets.

5. It enables users to change, upgrade, build, and trade blockchain-based gaming assets. These are virtual, but still they have a real-life value of their own.

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6. It offers players a high level of security, transparency, and immutability. Enjin blockchain is temper free.

7. Enjin has some of the strongest team members in the blockchain industry, such as Alex Solomon (previously at Microsoft Azure) and Caleb Applegate (founder of Mineplex), to name a few.

8. ENJ is a cross-chain project that joins a large number of players all over the world. It provides some valuable services like escrow, smart contracts, and a user-friendly wallet.

9. The Enjin Coin (ENJ) is the life of the Enjin ecosystem. It is an Ethereum-based cryptocurrency. As an ERC-20 token, it is compatible with Ethereum wallets like MyEtherWallet and other online wallets. We can also use other wallets like Ledger Nano S, Trezor, and more.

10. Enjin Wallet: Every user has their own unique blockchain address and all the transactions executed on the blockchain need to be authorized using that private key. Enjin has a highly secure wallet with software development kits (SDKs) and is a decentralized payment gateway. It is user friendly for invoices, refunds, and to customize coin payments on different websites.

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Top Partnerships
  1. Enjin works together with the big giants of the IT and gaming industries. For example, Samsung, Unity, PC Gamer, Crypto.com, and other eSports brands.
  2. ENJ is also available on the Swissborg wealth app. This new partnership introduces the Enjin community to 17 new fiat gateways in over 100 countries.
  3. Enjin enters the Defi space with the Aave Protocol, it allows people to earn higher yields on deposits, as well as borrowing with ease and without worry.
  4. Binance, a leading cryptocurrency exchange, awarded its users and followers with non-fungible tokens (NFT) that are backed by ENJ token. They also created Binance Collectibles, a series of holiday-themed NFTs to serve as prizes for a festive engagement campaign during the season of giving.
  5. Microsoft also launched their non-fungible tokens (NFTs) named Azure Heroes on the Enjin blockchain. These are blockchain-based digital badges rewarded to developers for their contributions to the community.
  6. BMW Vantage app is launched on ENJ. It is a BMW membership app to enjoy the great values and benefits of BMW like reward points and other features to track the documentation of the car.
Latest Updates
  1. Recently Coin Market Cap partnered with Enjin to mint NFTs that will be used in different games in the coming future.

2. They have also launched Atari and eBallR Games to the Enjin ecosystem, which will leverage the power of the blockchain to the game developers.

3. In 2021, eBallR Games will launch a sports multiverse, a series of games linked by shared blockchain assets and collectibles.

4. According to Fred Chesnais (CEO of Atari), EBallR Games and Enjin have both together entered a new era of NFTs, unlocking more utility by allowing owners to use them across projects.

Enjin Coin Technical Analysis

At the time of writing, the ENJ price is $0.210964, with a circulating supply of 923 million ENJ coins and a maximum supply of 1 billion. Binance is the current most active market trading ENJ.

Some of the leading exchanges on which ENJ is listed are Binance, Kucoin, Coinbase, HitBTC, and Bittrex.

With the above fundamental news and according to the weekly chart below, it has enjoyed a massive rally this year, reaching a 2021 high of $0.26. According to Fibonacci, it is getting support around the $0.19 level. On the weekly timeframe, it is forming a Cup and Handle. If it will breakout above, it can make another all-time high of around the $0.50 level.

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Conclusion
Enjin Coin is one of the largest blockchain-based gaming communities. Lots of new innovative virtual games and other creative projects are built on this. With these features, it has a great future, especially in the NFT and Defi spaces.

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