Enjin Coin Price ENJ

Enjin Coin Price Overview

The current Enjin Coin price is 0.230100000 €. The price has changed by -1.95% in the past 24 hours on trading volume of 22872427.75 €. The market rank of Enjin Coin is 224 based on a market capitalization of 411472676.46 €. Enjin Coin has a circulating supply of 1785992446.06 ENJ. The highest recorded Enjin Coin price is 4.290000 €. And the lowest recorded ENJ price is 0.015998740 €.

How do Enjin Coin price movements correlate with market trends? Check our complete cryptocurrency exchange rate page for information at a glance.

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Enjin (ENJ) Price

Enjin is a blockchain-based NFT creation and utilization platform whose ecosystem of products is designed to facilitate the creation and powerful use of digital assets. Enjin invented the ERC-1155 Ethereum token standard, which allows developers to tokenize currencies, in-game items, real-world real estate, and other types of assets so they can be used in blockchain applications.

The Enjin Coin (ENJ) is the backbone of the Enjin ecosystem as it is used to mint new tokens which can be melted back into ENJ at any time. Since its $20 million initial coin offering (ICO) in October 2017, the price of ENJ has made some pretty interesting moves, and if you want to know why then you're in the right place. We've compiled everything you need in order to understand Enjin’s price – and the factors that affect it.

Enjin Price History

Enjin coin hit the market trading at $0.02 (dipping shortly to $0.017) after the conclusion of its ICO at the start of November 2017. ENJ price broke $0.03 in the first week of December before picking up momentum to surge sharply a week later, and then again at the start of January 2018. This took Enjin up to a peak of $0.43, representing an increase of around 1,850% from its starting price.

Ten days later Enjin had crashed 60%, back down to $0.16. There were another couple of attempts to rally in the first quarter of 2018, but they couldn’t find enough momentum to get ENJ close to its previous highs. From May onwards, ENJ was in steady decline and ended the year trading at $0.04 – a 90% fall from its peak in January.

The first couple of months of 2019 traded mostly sideways, before a surge at the end of February and beginning of March saw ENJ price rise by 500% to reach $0.22. This level couldn't be sustained, however, and Enjin spent the rest of the year moving gradually downwards, finishing 2019 with a value of $0.08.

2020 was fairly volatile – the price had doubled by mid-February, and then a crash took Enjin back down to $0.03 after a fall of almost 50% in a single day in March. This ended up signalling the start of a fresh period of growth, and ENJ broke above $0.20 by the end of May. Price was mostly range-bound between $0.15 and $0.25 for the next three months before a drop down to $0.14 around the start of September. There was no significant movement for the rest of 2020 and Enjin was trading at $0.13 at the year's close.

The most exciting year yet for Enjin was 2021. In January, its price increased by almost 300% to break above $0.40 for the first time in three years. More gains in February took ENJ over $0.60 before growth became exponential at the start of March. Price increased by about 50% in 24 hours on 3 March, at which point Enjin's market cap surpassed $1 billion for the first time. ENJ hit a high of $3.08 on 15 March 2021, reaching a market cap of over $2.3 billion. A pullback the following week briefly took prices below $2, but Enjin made back some ground at the end of March, and by April 9th ENJ price a new all-time-high of $3.59 – representing year-to-date gains of over 2,600%.

Analyzing Enjin Price History

Enjin's price history can be analyzed with many of the same techniques as stock market analysis. Technical analysis involves looking at the charts to make sense of previous price movements. With ENJ, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of users buy or sell their coins on exchanges.

Fundamental analysis, on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. At the end of March 2021, Enjin raised almost $19 million in funding to build a new blockchain network called Efinity on which ENJ will be used to facilitate the network’s staking mechanism. The funding round was supported by big names in the crypto space such as Blockchain.com Ventures and Crypto.com Capital, which is clearly a positive sign for Enjin's fundamentals.

Broader market trends have also played a role in ENJ's price history. Its surge at the end of 2017 which continued into the start of 2018 wasn't unique — the entire crypto market pumped around this time. Bitcoin was in the midst of a major bull run then, and with such strong market dominance, any significant price movement for Bitcoin often impacts other cryptocurrencies.

Enjin coin's huge single-day drop in March came as economies and borders were closing down around the world in response to the COVID-19 pandemic. The effect of this was felt by the whole cryptocurrency sector and the entire stock market, which experienced the biggest single-day crash since 1987.

The overall price trend of ENJ tends to follow what's known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price, before doubt and disillusionment set in and result in a crash.

Factors Influencing The Price of Enjin (ENJ)

A variety of different things can affect the price of Enjin, including project news and developments, the flow of assets on exchanges, public sentiment, and emerging trends in the wider cryptocurrency and global economies.

Enjin coin has a capped max supply of 1 billion ENJ, and any ENJ that is not in circulation has been locked up inside of digital assets that are minted on the Enjin platform. This makes ENJ a scarce asset like Bitcoin. As ENJ are locked into smart contracts to create NFTs and other digital assets, the available supply of ENJ effectively decreases – unlike Bitcoin. A decreasing supply with sustained or increasing demand would likely cause the ENJ price to rise.

The level of adoption of the Enjin Network directly impacts ENJ price as the more developers there are building on it, the more demand there will be for ENJ to use when minting tokens. A number of interconnected games and projects have already been launched within what is known as the “Enjin Multiverse” – and future integrations, along with the adoption of the new Efinity blockchain, would serve to drive ENJ demand higher and therefore apply upward pressure to its price.

Changes in the global economy and movements by other cryptocurrencies – especially Bitcoin – could also influence Enjin price through a knock-on effect.

Live Enjin Value and Market Cap

The live price of Enjin varies from moment to moment as it's dictated by the balance of buyers and sellers on exchanges, which is in constant flux.

Given Enjin's volatility, its live price can change by a large amount in a very short space of time. The market cap of Enjin is equal to the price of ENJ multiplied by the number of ENJ in circulation.

Enjin Price FAQ

What is the highest price of Enjin Coin in EUR?

Enjin Coin price history shows that Enjin Coin has recorded a peak value of 4.290000 €.

What is the lowest price of Enjin Coin in EUR?

Kriptomat data confirms that 0.015998740 € is the lowest recorded Enjin Coin value.

What is the current price of Enjin Coin in EUR?

Enjin Coin is available for immediate purchase at Kriptomat. The current price is 0.230100000 €.

How can I buy Enjin Coin?

You can consult an expert to tell you how to buy Enjin Coin. However, it’s fast and easy to buy Enjin Coin with the Kriptomat app. Enjin Coin is available for immediate purchase at the current Enjin Coin price quote of 0.230100000 €. Current prices are always displayed in the Enjin Coin chart.

How is the price of Enjin calculated?

Enjin's price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying ENJ than selling it, the price goes up, and when more are selling than buying, the price goes down.

Why is the price of Enjin different on different cryptocurrency exchanges?

Enjin's price is based purely on trading as there is no standard global Enjin price, so no one knows what it is "supposed" to cost. The trading volume and liquidity is different for each exchange and those differences are what affect the price.

What will Enjin be worth in the future?

It's impossible to make price predictions with any kind of certainty as a whole host of different factors could play a role in determining ENJ's future value. However, as minting tokens on the Enjin platform and staking on Efinity drives demand for ENJ while reducing its circulating supply, increased activity on these networks in the future would likely lead to an even further increase in the price of ENJ.

Conclusion

Enjin coin's price has been through many changes, from being worth $0.02 after its 2017 ICO, to surpassing $3.50 in 2021 (at time of writing). The journey wasn't smooth though, as Enjin's volatility led to many surges and crashes along the way for active traders to take advantage of.

Many different factors have played a role in determining the price of ENJ, including its capped supply, projects building in the “Enjin Multiverse”, and trends in the rest of the crypto market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.

If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Enjin and cryptocurrencies!