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Enjin Coin Price (ENJ)
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Enjin Coin Price Live Data
The live ENJ price is currently {{current_price}}, {{up_down_24h}} {{price_change_percentage_24h_in_currency}} in the last 24-hours. Enjin Coin's 24-hour trading volume is {{total_volume}}. Enjin Coin is currently {{market_cap_rank}} by market capitalization, which is calculated by multiplying the current price ({{current_price}}) with the circulating supply ({{circulating_supply}}). The market capitalization for Enjin Coin is {{market_cap}}. ENJ has a circulating supply of {{circulating_supply}} and a max supply of {{max_supply}}. To buy ENJ at the current rate, visit moonpay/buy/enj.
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About Enjin Coin (ENJ)
Enjin Coin (ENJ) is a blockchain-based platform and ecosystem designed for creating, managing, and trading virtual goods. It was created to address the prevalent issues in the gaming space, including lack of asset ownership, counterfeit items, chargebacks, and poor monetization.
The Enjin platform provides a suite of tools that includes software development kits (SDKs), APIs, and a content management system to help developers integrate blockchain-based assets and functionalities into their games.
The native cryptocurrency of the Enjin platform is Enjin Coin (ENJ). It serves as a digital asset within the ecosystem and has several use cases. One of the main features of ENJ is its ability to be used as a "melt value" for minting blockchain-backed assets. Game developers can mint unique digital items or non-fungible tokens (NFTs) and assign a specific amount of ENJ as their underlying value.
ENJ also enables in-game transactions and trading of virtual assets between players. Users can buy, sell, and trade blockchain-based items using ENJ, thereby creating a decentralized marketplace for digital assets. Additionally, Enjin Coin has utility within the ecosystem, including features like rewards, access to special content, and governance participation.
Enjin has gained popularity due to its focus on tokenizing in-game assets, creating scarcity, and providing true ownership to players. The project has formed partnerships with various gaming companies, enabling the integration of blockchain technology into popular games. These partnerships and collaborations have helped to expand the adoption and use cases for ENJ.
Enjin Coin price history
2017
Enjin launched in June 2017. The price of Enjin Coin started at around $0.01, and slowly rose throughout the year, reaching a high of $0.30 in December. This was due to a number of external factors as well, including the growing popularity of cryptocurrencies and the increasing adoption of blockchain technology by the gaming industry.
2018
Enjin Coin's price fell sharply in 2018, along with the rest of the cryptocurrency market. The price bottomed out at around $0.02 in December due to the regulatory uncertainty surrounding cryptocurrencies and the lack of major developments on the Enjin platform.
2019
The ENJ price began to recover in 2019. Enjin Coin rose to a high of $0.15 in June thanks to the growing popularity of blockchain gaming, the increasing adoption of Enjin by game developers, and the launch of the Enjin Wallet.
2020
The Enjin Coin price continued to rise in 2020, reaching a high of $0.25 in August. The increase was partly due to the increase in demand for online gaming during the COVID-19 pandemic. Additionally, the launch of the Enjin Marketplace contributed to this increase.
2021
The price of ENJ reached an all-time high of $4.85 in November 2021. This was due to a number of factors, including the growing popularity of NFTs, the increasing adoption of Enjin Coin by game developers, and the launch of the Efinity blockchain.
2022
The Enjin Coin price went downhill in 2022, falling from over $2 at the beginning of the year to around $0.20 by the end of the year.
2023
Enjin Coin had a strong enough start to the year, increasing from $0.2434 in January to $0.5452 in February. Since then, the price of ENJ tokens has fallen back down, dipping to the $0.23 mark by September.
How does Enjin Coin work?
Enjin consists of a set of smart contracts deployed on the Ethereum blockchain. These smart contracts provide the foundation for creating and managing blockchain-based assets, including non-fungible tokens (NFTs). NFTs are unique digital items that can represent in-game assets, virtual goods, or other collectibles.
ENJ is an ERC-20 token, which means it complies with the standard rules and functions of Ethereum-based tokens. It leverages the Ethereum network's smart contract capabilities to implement its features and functionalities. These smart contracts govern various aspects of Enjin, including token transfers, minting and burning of assets, and the integration of blockchain-backed items into games.
To create assets, Enjin uses a concept called "minting." Minting refers to the process of converting a specified amount of ENJ into a unique token or NFT. These assets can be items, characters, weapons, or any other virtual object that holds value within a game. This process establishes a direct connection between the ENJ token and the value of the assets created.
The Enjin ecosystem also provides a decentralized marketplace for trading and exchanging blockchain assets. Users can buy, sell, and trade these assets peer-to-peer via Enjin Coin. This marketplace relies on the Ethereum blockchain's decentralized nature, ensuring secure and transparent transactions.
Additionally, Enjin's smart contracts implement a set of standards known as the ERC-1155 standard. This standard allows for the creation of both fungible (identical and interchangeable) and non-fungible tokens within a single contract. It offers efficiency and flexibility by reducing the gas fees associated with minting and managing assets compared to traditional ERC-20 or ERC-721 tokens.
Who are the founders of Enjin Coin?
The founders of Enjin Coin (ENJ) are Maxim Blagov and Witek Radomski.
Maxim Blagov is the CEO and co-founder of Enjin. He has a background in design and marketing and has been involved in the gaming industry for over 13 years. Blagov played a crucial role in envisioning and leading Enjin's expansion into the Web3 space, with a focus on building the Enjin platform for the tokenization of virtual goods.
Witek Radomski, the CTO and co-founder of Enjin, is a seasoned software engineer and blockchain enthusiast. He has a strong technical background and has been involved in blockchain technology since its early days. Radomski played a key role in developing Enjin's smart contract infrastructure and implementing the ERC-1155 token standard, which has become a widely adopted standard for blockchain-based assets.
What is Enjin Coin used for?
Enjin Coin (ENJ) has several use cases within the Enjin ecosystem and the broader blockchain gaming industry.
Firstly, Enjin Coin serves as a "melt value" or underlying value for minting blockchain-backed assets. Game developers can assign a specific amount of ENJ to represent the value of in-game items or non-fungible tokens (NFTs). This gives these digital assets real-world value and scarcity, as they can be melted or redeemed for the corresponding amount of Enjin Coin at any time.
ENJ is also used for in-game transactions and trading. Players can use Enjin Coin to purchase virtual goods, participate in in-game economies, and trade assets with other players. This enables a decentralized marketplace for virtual assets, where players have true ownership and can freely exchange their items at any time.
Further, Enjin Coin serves as a utility token within the Enjin network. It can be used to access special content, receive rewards, and participate in governance decisions. Holding ENJ may provide users with benefits and privileges within the Enjin network of games and applications.
What makes Enjin Coin unique?
One of the key technical aspects of Enjin Coin is its ability to represent the value and ownership of in-game assets. ENJ can be "melted", meaning it is used as a reserve asset backing the value of blockchain-based assets minted within the Enjin ecosystem.
When a developer mints a new asset, they assign a specific amount of ENJ as its underlying value. This provides a tangible and tradable value to the asset, making it unique and scarce.
Users can destroy or melt their blockchain-based assets and retrieve the locked ENJ. By doing so, players can redeem the underlying ENJ value of their assets. Melting ensures that the ENJ token retains its value as a reserve asset within the Enjin ecosystem.
How can I mine or stake Enjin Coin?
You cannot mine Enjin Coin. However, you can stake Enjin Coin to earn rewards. Staking is a process of locking up your ENJ in a secure wallet to help validate transactions on the Ethereum network. In return for your services, you will be rewarded with new ENJ tokens.
Here are the steps to stake ENJ:
Set up a wallet to store ENJ
Purchase ENJ via MoonPay
Delegate your ENJ to a validator
Earn staking rewards in ENJ
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More FAQs about Enjin (ENJ)
The price of {{token_name}} is determined by factors such as supply and demand, market sentiment, regulatory developments, and the adoption of blockchain technology. Price fluctuations can also occur in response to large transfers of the asset in a short time period.
The all-time high price of Enjin Coin is $4.85, which was achieved on November 25, 2021.
The all-time low price of Enjin Coin is $0.01562, which was reached on November 3, 2017.
The maximum supply of ENJ is 1 billion, and all of them have already been minted. That means the circulating and total supply of Enjin Coin is also 1 billion.
You can buy Enjin Coin directly via MoonPay or through one of our many partner wallets such as Trust Wallet and Exodus.
MoonPay’s simple widget makes it easy to buy ENJ with a credit or debit card, bank transfer, Apple Pay, Google Pay, and more payment methods.
