Enjin Coin Price

Enjin Coin is one of the most exciting and promising cryptocurrencies to invest in, primarily as it caters to the emerging NFT sector. As an end-to-end service provider for all things NFT, the Enjin platform offers a highly convenient way for anyone to create, distribute, and manage their non-fungible token projects.

Enjin Coin's price could witness an uptrend as more NFT projects are developed and launched on its platform. The higher on-chain activity could increase the ENJ price and make it a valuable asset to invest in.

As more use cases for NFTs evolve shortly, investors’ demand for projects like Enjin could increase further. Interest in NFTs and platforms like Enjin amid mainstream businesses could also increase the Enin Coin price.

While it is impossible to make an accurate ENJ price prediction over any duration, the past performance of Enjin Coin indicates that the following factors could impact the crypto’s value:

Level of Interest in NFTs

An increased interest in non-fungible tokens (NFTs) and related projects and continued innovation in discovering more use cases for the technology could catapult projects like Enjin into the spotlight. This, in turn, could help drive up the price of Enjin Coin in the market.

Level of Adoption of Enjin's Technology by NFT Creators and Consumers

The ENJ price statistics could also be boosted when more creators use the Enjin platform to design and deploy their NFT projects. Engaging projects could attract more consumers to the Enjin Marketplace and contribute to higher on-chain activity, which could also positively impact the value of Enjin Coin.

Crypto Market Sentiment

Finally, the market sentiment has a significant impact on the ENJ price action. Bullish sentiment among investors or a risk-on mood encourages higher buying activity across the market and supports the Enjin Coin value. On the other hand, a bearish mood or risk-averse sentiment could drive sell-offs among investors, sending the price of ENJ lower.

It is doubtful that the Enjin Coin price would reach a level as high as $100. The key reason behind this is the high circulating supply of the ENJ token.

Fixed at 1 billion, a value of $100 for ENJ token would make the Enjin market cap soar to $100 billion, an unrealistically high valuation for the project. For the Enjin Coin price to soar as high as $100, the developers behind the project should modify the token’s circulating supply through token burning or upgrade mechanisms.

A significant drop in the token’s supply could theoretically drive the ENJ price to a critical level. However, this is not something that could happen shortly.

ENJ is one of two native tokens used within the Enjin platform, along with EFI. Here are some of the critical use cases for the Enjin Coin:

Utility Token

All NFTs created on Enjin are backed with ENJ tokens. This enables better trust and authenticity and gives them a higher value in the market.

The scarcity of ENJ tokens increases as NFT owners melt their tokens into ENJ. This helps control the Enjin Coin’s supply and support its value.

Native Currency

ENJ is used to pay for NFTs listed on the Enjin Marketplace. You can use the token to buy, sell, and trade digital collectibles via Enjin’s official NFT marketplace.

Crypto Asset to Trade and HODL

You can trade ENJ against other cryptocurrencies to profit from market movements. Buy or sell Enjin Coin against other crypto assets or hold it long-term if you believe in the future potential of the Enjin project. Check the real-time Enjin price, ENJ market cap, circulating supply, 24-hour trading volume, and the latest crypto news before you trade Enjin Coin.

Earn Passive Income on KuCoin

KuCoin lets you put your ENJ holdings to work and earn passive income. Visit the KuCoin Crypto Lending page to lend liquidity for ENJ on our platform. Earn attractive daily interest for your contribution over seven days, 14 days, or 28 days.

You can stake $ENJ on crypto exchanges or DEXs that offer this service. Here’s how to stake Enjin Coin:

1. Perform online research on platforms where you can stake ENJ. Find the best returns and select the most suited option based on APRs and reliability.

2. Open an account on the platform and fund your account with Enjin Coins.

3. Click on the Stake feature and select the number of ENJ tokens you wish to stake.

4. Enter the number of days you wish to stake your tokens.

5. Confirm the transaction, then sit back and earn rewards for staking Enjin Coin.