Through this blog, I will keep you updated with my recent crypto purchases. The crypto market has witnessed a dip recently. The total market cap of the crypto currencies went nearly $3 trillion and now it is around $2.25 Trillion. I believe there is still a long a way to go. With the evolution of Metaverse, it can add another $3 trillion in this year. Mainly gaming industry is experiencing a shift. With the introduction of NFTs in gaming industry, things have become quite interesting. Now players can own their assets earned during the game and sell it to other players. Coins related to Metaverse & NFTs can show good upside this year. That is why I choose to invest in Enjin Coin(ENJ).
Reason for Investing: I am a gamer myself and but there is one problem me and many gamers has been facing over the years the ownership of gaming assets. You play a game for months and earn certain valuable assets but you still you don’t own them. Enjin Coin(ENJ) solves this problem. Enjin Coin is the frontier in games based on blockchain technology. Enjin Coin allows users to trade rare and collectable items within game in form of NFTs. Seeing the potential of the gaming industry and increasing use of blockchain technology, only sky is the limit for Enjin Coin(ENJ).I have purchased it at a price of $2.60.
Risk Involved: It is currently at No 61 in coin market cap and according to my prospection it is a low risk coin. Enjin network has over 20 million users over 250000 gaming communities. There is no way gaming industry would slow down. However, it is bound to increase multiple fold in upcoming years and games related to NFTs and blockchain technology will be more popular. This is where the use of Enjin(ENJ) coin lies.
Price prediction: I expect the price of Enjin Coin to touch $10-12 by the end of this year. This makes a 350-535% gain over the currently trading price of $2.83. Its market cap may reach $10 billion by the end of this year. Enjin coin is seriously undervalued in my opinion and definitely the one to consider.
Final Verdict: Whether it will hit $10 by the end of this year? No one knows. But it won’t hurt if you purchase some 100-200 Enjin Coin. Investing in crypto currencies has its own risks. One should do research on his own before making a final decision.