Coin Bureau is a popular crypto analytics and market commentary program. Coin Bureau has released a long-term outlook for gaming altcoin project Enjin Coin (ENJ), which serves as a “utility token” for non-tradable tokens (NFTs). Detail cryptocoin.com‘in.
Why is it bullish for the popular altcoin project?
In a guide published in May 2020, Binance Research referred to Enjin Coin as “a product ecosystem for blockchain games.” In the guide, ENJ was defined as an Ethereum-based cryptocurrency used to directly support the value of next-generation blockchain assets. Enjin has reportedly built a complete ecosystem for on-chain applications that integrates with the open source token standard and includes a unique blockchain explorer (EnjinX). The guide also included the following statements:
Some of the use cases range from certificate of ownership, compatibility with the Enjin ecosystem, their real-world value, and tangible features. As many NFTs are backed by ENJ tokens, their adoption leads to reductions in the effective supply of Enjin Coin.
Coin Bureau analyst “Guy” has a long-term bullish forecast for Ethereum-based gaming altcoin project Enjin Coin. Citing data from Etherscan, Guy claimed that there are more than 162,000 unique addresses holding ENJ, providing a “significantly wider token distribution” compared to similar gaming projects like The Sandbox (SAND). Guy noted that despite its popularity and more than double the market capitalization of ENJ, SAND only contains about 100,000 unique addresses. Coin Bureau’s analyst also highlighted the adoption of Enjin, which he says will benefit from the surge of excitement over blockchain games and immutable tokens. Guy said: “Although these are very early days for blockchain games and NFTs, the future really looks pretty bright for Enjin, the JumpNet scaling solution, and the Polkadot-based parachain Efinity.” Guy described Enjin as a “leading force” in the field of blockchain games and NFTs, with a strong team of leading architects and developers.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.