Amidst all of the crypto talk this week, Coinbase is launching a handful of new coins on its Pro platform. Among these is an altcoin called Enjin Coin (CCC:ENJ), and it looks like this token could be a fine new alternative for crypto fans to look into. A couple price surges have lead to some Enjin Coin (ENJ) price predictions, as investors wonder what to expect next.
Enjin Coin is the child of Enjin, a blockchain-based game and app developer. The company implemented ENJ as a part of its business in order to facilitate transactions between players with currency of real-life value.
Using ENJ, Enjin users can buy and sell in-game items with legitimate values attached to them. The real value that people see in this model is that the in-game items are NFTs, which have a roaring popularity behind them. The model has spawned a number of indie game titles which all use ENJ.
Recent Gains and Enjin Coin (ENJ) Price Predictions
ENJ has seen lots of growth this week for a number of reasons. The coin’s listing on Coinbase is huge considering the popularity of the exchange and the hype behind the upcoming Coinbase IPO. ENJ owners can transfer the coin to their Coinbase accounts ahead of Friday’s launch.
Additionally, the coin is fetching a high price due to its linkages to the increasingly popular NFT craze. The launch of Enjin JumpNet, a platform that advertises fee-free NFT transactions, has been catching the eye of NFT fans and crypto miners alike. The hard pivot toward NFT marketing is doing wonders for ENJ transactions.
On top of these two pieces of news, the coin is simply doing solidly in terms of pricing. The coin is testing well across analyses and the predictions of a bearish run are very low.
Now, let’s take a look at some Enjin Coin (ENJ) price predictions:
- ForexCrunch predicts ENJ to reach a $3.55 price point down the line. In the shorter term, predictions lie around the $3.10 mark.
- WalletInvestor is predicting a similar price of around $3.35 at year’s end.
- DigitalCoinPrice, in a more bullish prediction, says the coin could hit $4.48.
ENJ is currently up 44%, trading for $3.11.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.