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      Enjin Coin – Weekly recap - Stocks Telegraph

      By Muskan

      Published on

      November 29, 2021

      7:31 AM UTC

      Enjin Coin – Weekly recap - Stocks Telegraph

      Enjin Coin is one of the top gainers out of the top hundred cryptocurrencies. ENJ coin had embarked on a strong bullish wave since the beginning of November. The cryptocurrency reached a new all-time high during the past week. The new ATH stands at a price of $4.85. The price has fallen since then as market corrections overtook the token but a revival of the bullish momentum can be observed in the recent timeframes. At the time of writing, the token stands at a price level of $3.86. The cryptocurrency has had a positive change of 14% during the day while the weekly performance records an increase of nearly 20%. The trading volume has increased by 55% and the token currently stands at a rank of #54. 

      Enjin – Recent developments 

      The Enjin ecosystem is holding a crowdloan for Efinity to help secure a slot for it on Polkadot’s parachain auction. Contributors will be rewarded with the blockchain’s native token when Efinity becomes a parachain. DFG has contributed 200k DOT tokens to Enjin’s crowd loan endeavor. Moreover, the network is also partnering with Bitboy Crypto to reward supporters with exclusive NFTs. 

      Efinity is a next-generation blockchain built on top of Polkadot and by the Enjin team. Efinity harbors an ecosystem that is more developer and user friendly and aims to create a new kind of ecosystem for digital assets. The ultimate aim of the network is to become a highly scalable and cross-chain ecosystem which makes NFTs easier and faster. 

      Some of the top listing of the past week include Efinity’s token EFI listed on Indodax, BitMart Exchange and AAXExchange. ENJ token also got listed on CoinList and VALRDotcome. Moreover, Woo Commerce merchants can also accept ENJ payments through NOWPayments. 

      Future outlook 

      The recent developments of the Enjin network are hinting at a positive future outlook for the token. Especially if Efinity is able to secure a slot as a parachain, the Enjin network can see some major growth. The crowd loan was able to push the ENJ token towards a new ATH and further developments on this front can lead to similar results. According to the estimates of Wallet Investor, ENJ token is expected to reach a price of $5.08 in a year’s time while the five-year projection places it at $12.30. Digital Coin Price has similar bullish predictions for the future of the network. Per their projections, the token will close the year with a price of $5.82 and reach $13.23 by 2026. 

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