Enjin Coin (ENJ) still one of the best gaming platform in the globe

Introduction

Enjin is the world’s leading gaming and digital collectible or non-fungible token platform. It offers developers or teams to create, manage, integrate, distribute, and trade blockchain assets. The native currency of the platform is the Enjin Coin (ENJ). The Ethereum standard for Non Fungible Tokens (NFTs) ERC-1155 was proposed and developed by the Enjin team. The Enjin suite for these tokens is complete with creation tools, wallets, trading system, blockchain explorer, and a huge comprehensive network. Enjin has a long list of partnerships with major game developers and IT companies.

Analysis

Analysis in terms of volume of trades

The trading volume of Enjin Coin (ENJ) is 27,847,671USD on May 26, 2020, and 8,323,597USD on June 25, 2020. The difference in monthly trading volume within this duration is 19,524,074USD. The decrease in trading volume% is 70.110258USD. The trading volume of Enjin Coin (ENJ) is 10,311,826USD on June 19, 2020, and 8,323,597USD on June 25, 2020, .The difference in weekly trading volume within this duration is 1,988,229USD. The decrease in trading volume% is 19.281057USD.

Analysis in term of price

The trading price of Enjin Coin (ENJ) opened art 0.186570USD on May 26, 2020, and close art 0.169505USD on June 25, 2020, the difference in monthly trading price within this duration is 0.017065USD, the decrease in trading price% is 9.146701USD. The trading price of Enjin Coin (ENJ) opened art 0.178278USD on June 19, 2020, and closed art 0.169505USD on June 25, 2020. The difference in weekly trading price within this duration is 0.008773USD the decrease in trading price% is 4.920966USD.

Partnerships

Enjin Token Now on Crypto.com Syndicate Lite

Crypto.com clients would now be able to appreciate purchasing Enjin (ENJ) tokens at a 25% discount on its Syndicate Lite platform. 

$250,000 worth of Enjin token has been doled out for this offer. As per an official declaration, just clients who stake Crypto.com’s local token CRO will be qualified to partake in the token sale. The posting is booked to go live on Tuesday, June 22, 2020. 

Details on the ENJ listing

Trading pairs available will include ENJ/USDT and ENJ/CRO. To take part, clients need to initially enroll on the crypto fintech platform Crypto.com. Next is to stake some measure of CRO tokens. Furthermore, ensuring that CRO tokens staked do not surpass their “respective maximum allocations”.

The maximum amount of CRO that can be applied towards the listing event will depend on the amount of CRO staked by users. The table below illustrates the maximum allocation of CRO tokens.

The crypto platform pointed out that it would not acknowledge staked CRO tokens as a subscription for ENJ throughout this event.

The distribution will take place at a specific time for users to receive the tokens allocated to them. If the amount gotten for the listing event is greater than the total discounted allocation, the final ENJ allocation for any user would be ascertained using the formula below:

The platform is accessible for use by a wide range of global clients. However, users in China, Hong Kong, and the USA will not be able to take part in the listing event.

Microsoft Collaboration Fuels 50% Rally for Enjin’s Cryptocurrency

Enjin Coin (ENJ) began to rise sharply from Wednesday afternoon (UTC) as news spread of a rewards scheme from the tech giant that uses Enjin innovation and the ethereum blockchain. Known as Azure Heroes, the scheme rewards community members with crypto collectibles (or NFTs) for good deeds, such as mentoring, providing demos, creating content, and more.

This is Enjin’s second major news-based rally this year after Samsung added Enjin’s cryptocurrency to the Blockchain Keystore on its flagship smartphone, the Galaxy S10, in March.

At the time, prices rose by more than 70 percent on rumors surrounding the release. Since then, ENJ has declined from a high of around $0.25 down to as low as $0.046 on Nov. 29.

With the latest Microsoft-fueled rally, the price peaked at around $0.1059 on Friday morning (UTC), CoinMarketCap data shows. A press time, the rally looks to be losing steam slightly, with prices down to $0.0987.

As seen above, price action for ENJ had been stuck between two defined areas of support and resistance, between $0.051 and $0.068 for about 72 days.

In all likelihood, Enjin coin bulls were beginning to grow thirsty for more developments to light a fire under prices. Now it would seem their prayers have been answered with the sharp breakout prompted by this week’s news.

Chiliz and Enjin Partner, Non Fungible Tokens To Get Boost

Chiliz and Enjin reported a partnership on Feb 6, to work together on the creation of branded digital collectibles (otherwise known as Non-Fungible Tokens) for the sports and entertainment history. The Chiliz project will reportedly utilize the Enjin blockchain platform to mint Ethereum-based collectibles (on ERC-1155 standard) for its associates and partners, on their fan commitment and rewards application Socios. Backed by Enjin Coin (ENJ), these collectible assets will be tradeable on the Enjin Marketplace and purchasable with both Enjin Coin (ENJ) and Chiliz (CHZ). This comes at a time when the Non Fungible Tokens (NFTs) market segment is fast gaining recognition and this partnership will play its part, to take it to the next level.

We are incredibly eager to declare association with @Enjin to create sports and esports NFTs for 

“Forged in digital entertainment, the Enjin ecosystem offers incredible opportunities to almost all industries and applications. As one of the earliest forms of entertainment, sport is a perfect fit for both our brand and our expanding collection of blockchain gamification use cases. We are delighted to collaborate with Chiliz and explore a new way to gamify sports and esports fan engagement, and we anticipate working with them to produce unique collectibles that fans can cherish and enjoy.”

Maxim Blagov, Enjin CEO.

“Earlier this year, we declared a plan to improve and expand the utility of CHZ in 2020 and beyond. We are excited to be working with Enjin, the world leader in this space, to bring this to fulfillment. We will also be launching limited-edition licensed collectibles and tokenizing the club-specific rewards and experiences offered through Socios.com. For instance, if one of our partner clubs triumphs in their respective league, we can create unique tokens to celebrate the win, as well as tokens to celebrate player achievements or seasonal football prizes.”

Alexandre Dreyfus, CEO of Chiliz & Socios.com.

Conclusion

Ejin Coin(ENJ) is always working to bring new ways of doing things, that will help gaming industries and this has been attracting many investors though it seems to be decreasing in terms of volume and price, yet it’s still one of the best gaming platforms in the globe.

All opinions expressed in the above article are solely of the author’s and do not reflect the opinion of the Global Crypto Alliance Ltd., any of its affiliations or any other company. This article is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. The Global Crypto Alliance Ltd. strongly recommends that readers conduct their own research and due diligence into the company, product or service, if any, that may be mentioned in the above content.