Engine Coin has become one of the most popular Ethereum whale tokens. Going forward, ENJ may want to work in a better chain as needed. All crypto markets suffered from the bear market in 2022 and, as expected, Enjin Coin [ENJ] was not spared.
Enjin, which focuses its business on blockchain games and tokenization on the Ethereum [ETH] blockchain, has seen its token value drop 91% in the past year.
How Much ENJ Can You Get For $1?
By ditching the disappointing show, Enjin could attract the attention of the Ethereum whales that always gather. According to Whale Stats, ENJ broke the top 10 assets sold by ETH whales in the last 24 hours.
Engine Coin has become one of the most popular Ethereum whale tokens
Going forward, ENJ may want to work in a better chain as needed
All crypto markets suffered from the bear market in 2022 and, as expected, Enjin Coin [ENJ] was not spared. Enjin, which focuses its business on blockchain games and tokenization on the Ethereum [ETH] blockchain, has seen its token value drop 91% in the past year.
How Much ENJ Can You Get For $1?
By ditching the disappointing show, ENJ could attract the attention of the Ethereum whales that always gather. According to Whale Stats, ENJ broke the top 10 assets sold by ETH whales in the last 24 hours.
Is ENJ Up To The Task?
The recent confirmation came when ENJ could hit a bunch of assets and the crypto market has been doing amazing work lately. According to CoinMarketCap, ENJ left its value of $0.25 on December 22 and went close to $0.27.
Although it is down to $0.265, based on the data from the price tracking platform. However, investors can temper their enthusiasm for this recent increase. This is due to the lack of status of ENJ, on-chain. At the time of writing, the Development Engine is stable at 0.02.
One notable aspect of the project is that it has been there since September 19. In fact, we haven’t heard much about ENJ in terms of development over the years.
But his position in place for more than three months raises questions about the efforts of the Engine team in this project. Therefore, fear long-term high income growth.
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When it comes to network expansion, Engine has failed too. At press time, ENJ’s network growth has dropped to 33, almost identical development projects. This means that Coin Engine is not doing well in terms of money flowing through the network.
In addition, the stagnation of growth indicated the loss of the basic characteristics of the user and may lead to the inability of the network to support future price increases.
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Entrepreneurs Are Dying to Stay Strong
Next to his active address, ENJ managed to keep going. According to chain data, 30-day active addresses saw a dramatic increase from November 7 to December 7. As a result, the daily level of business and user interaction within the Enjin network is large at this time.
However, attendance had dropped to 13,900 at press time. Regarding participation in NFT, the participation of buyers with aggregates related to Engine hesitates to buy and sell. With volume at $4,620, Enjin struggled to make an important point.
So, as the day progresses to 2023, ENJ’s optimal performance will largely depend on improving efficiency within its network.
