Enjin Token (ENJ) That Will Dominate the Gaming World? - Kakiforex.com - Financial Market Media No. 1 in the World Enjin Token (ENJ) That Will Dominate the Gaming World? Enjin Token (ENJ) That Will Dominate the Gaming World?
InstaForex

June 11, 2021

Enjin Token (ENJ) That Will Dominate the Gaming World?

 In particular, Enjin is a company that provides an ecosystem of Ethereum blockchain -based gaming products that have their own tokens and were founded by Maxim Blagov and Witek Radomski.


The Enjin was initially developed with the ERC-20 token before being converted to the ERC-1155 token in 2019. The ERC-1155 is a standard nonfungible token (NFT) for the Ethereum platform introduced by the Enjin itself in 2018.


Interestingly last April, Enjin launched a special JumpNet blockchain for NFT which was developed using the Ethereum token standard, ERC-1155.


It has received support from several firms including Microsoft, Binance, OKEx, Cryptomat, BlockDown, Ludena protocol, Lost Relics, Japanese VTubers, MyMetaverse, The Six Dragons, Beauty in the Streets, and MetaverseMe.


Next, let’s look at the ENJ/USDT price movement chart.


From the market price record, Enjin has seen tremendous potential when making an aggressive increase of over 2,900% at the beginning of the January market opening until April 9, 2021.



The increase also recorded an all -time high (ATH) at the $ 4.00 price level.


For the next expectation, if the price movement can break the SBR zone (support become resistance) around $ 1.40, the price movement will lead to the next resistance level around the price of $ 2.0 first before continuing to rise higher.


However, if the movement of the Enjin price shows a downward trend, the support level around the price of $ 0.8- $ 1.0 that has been touched before will be tested again either to make a rebound or continue to maintain the bearish trend.


At the time of writing, ENJ/USDT is trading around $ 1.2 down over 4% in 24 hours. The coin is currently ranked 34th with a direct market limit of over $ 1.0 billion.