Sandbox (SAND) coin price prediction: What’s next for the token?

Sandbox (SAND) coin price prediction: What’s next for the token?

SAND, the coin of blockchain-based play-to-earn metaverse Sandbox, has a had a good week rising 15% to reach $2.93 today (21 April).

However this comes after a disappointing first half to the month when it was at $3.79 but slid down as low as $2.6.

The latest boost comes after reports that majority owner, the blockchain gaming developer Animoca Brands, was trying to raise $400m from new and existing investors. Last November it raised $93 million in a round led by SoftBank Vision Fund 2.

What is the outlook for the coin? What is a realistic future price target? What factors could shape any Sandbox coin price prediction for 2022, 2025 and 2030?

In this article we look at the latest analyst Sandbox price predictions, news and analysis to help you decide if you shoud make SAND part of your portfolio.

What is a Sandbox coin?

Sandbox is a play-to-earn game that combines blockchain technology and non-fungible tokens (NFTs) in a three-dimensional (3D) metaverse. It focuses on user-generated content which helps further develop the platform.

The game was initially known as two separate mobile hits: The Sandbox, which was launched in 2011, and The Sandbox Evolution, which was launched in 2016. Together, the two games generated around 40 million downloads across the Android and iOS platforms.

In 2018, the games’ developer, Pixowl, was acquired by Hong Kong-based game software company Animoca Brands which integrated the popular games into the blockchain ecosystem.

Sandbox is hosted on the Ethereum network and is powered by SAND, an ERC-20-based token.

Inspired by major game-creation systems such as Minecraft and Roblox, Sandbox allows players not just to create their own worlds and games, but also to have true ownership of their creations as NFTs. In exchange for participating and playing, players earn SAND tokens.

According to the metaverse’s whitepaper, the current game market limits creator rights and ownership, an issue which Sandbox aims to overcome “while accelerating blockchain adoption to grow the blockchain gaming market”.

The game itself is split into three parts:

  • VoxEdit, where players can create and animate 3D objects such as people, animals, tools and foliage. These are then exported into The Sandbox marketplace, where they become game ASSETS and are sold as NFTs.
  • The Sandbox marketplace where users can upload, publish and sell their ASSETS as ERC-721 and ERC-1155 tokens. The Marketplace launched on 30 March 2021.
  • GAMEMAKER, where players who own ASSETS can use them to play the game itself. Players can place their ASSETS within a piece of LAND (an ERC-721 token) that they own within the Sandbox metaverse. This LAND can be decorated with a number of ASSETS which can be given predefined behaviours through visual scripting nodes. Thus, players are able to turn their LAND into a potential full game experience. Several LANDS can be combined by players to form an ESTATE.

The SAND token fuels the platform and can be earned by selling ASSETS, by owning LAND which can be rented or populated with content to increase its value, and/or by building and monetising games through the GAME MAKER function on the LANDS that are owned by players.

The token also:

  • Gives players access to the platform. Players use SAND tokens to play games, make in-game purchases and customise their avatars. SAND is also charged to upload ASSETS on the marketplace and purchase Gems that define an ASSET’s rarity and scarcity.
  • SAND holders are granted governance and can exercise voting rights on key features within the project’s roadmap.
  • Players can stake their SAND tokens in order to earn more. This is also the only way that players can earn the Gems and Catalysts that are needed for ASSET creation.

Players get to keep 95% of their SAND revenue.

The total supply of SAND coins stands at three billion, with 1.16 billion in circulation. The token reached over $3.39bn in market capitalisation and is ranked the 41st largest cryptocurrency by CoinMarketCap as of 21 April 2022.

SAND price driven by partnership & investor news

The Sandbox token’s outlook started to look much more positive at the start of February 2021, following Sandbox’s partnership with cryptocurrency price-tracking website CoinMarketCap for the latter to release an NFT collection on the metaverse.

In the following months, the token’s price kept moving sideways before it reached $3.22 on 3 November 2021, after the metaverse announced on 2 November that it had gained $93m from Softbank Vision Fund 2 investors, which would help the platform scale up its growth strategy, operations and player acquisition.

By then, Sandbox already had over 165 partners, including popular US rapper Snoop Dogg, and famous TV series The Walking Dead and the Smurfs. The project had also partnered up with Liberty City Ventures, Galaxy Interactive and Adidas Originals.

On 25 November 2021, the token had reached its all-time high of $8.4 – a 16,387% surge since its launch at $0.051 on 15 August 2020.

On 1 December 2021 Sandbox announced that players could purchase plots next to the one where Snoop Dogg was building his mansion, Snoopverse. This led the SAND token to grow by just 2.% from $6.58 on 1 December to $6.71 the following day.

Following an overall drop in bitcoin and ether prices at the start of December, SAND also fell by 29% to $4.78 by mid-month, despite having secured partnerships with 10 exchanges, as well as a MAUER NFT collection memorialising the Berlin wall.

On 21 December 2021, the metaverse’s partner, Canadian electronic music producer deadmau5, announced the launch of his NFT collection on the Sandbox marketplace which pushed the SAND token’s price up to $6.73 on 26 December, an increase of by 41% from its 14 December low.

Bank of America strategist Haim Israel said on 1 December that the metaverse will make cryptocurrencies even more popular than they already were, thus boosting price targets for many metaverse-based crypto tokens including SAND. On 18 January 2022, investment firm JP Morgan Chase agreed with BoA’s bullish predicament by publishing a report saying that the metaverse industry could possibly reach over $1t in yearly revenues. The firm’s report mentioned Sandbox as one of the “main metaverse platforms”.

However, the token’s value line on the chart started to decline once again, amid a general dip in the crypto market at the start of 2022 due to the possibility of tightening monetary policy and geopolitical tensions.

What’s next for the metaverse?

One silver lining for the SAND token price was Snoop Dogg’s announcement on 27 January 2022 that he would be launching a series of Snoop Dogg metaverse avatars on the platform. The news pushed the token’s price by 61.28% from $2.99 on 22 January to $4.81 on 8 February 2022. The NFTs were minted on 22 February and have the potential to hike the token’s price once again.

In more recent SAND coin news, partnerships with Gucci and Ubisoft  were unable to offset the overall bearish forecast in the markets, with the token reaching $3.11 on 22 February – a 35.4% drop since 8 February.

The platform also partnered with Warner Music Group which will create a music-themed world in the metaverse as the platform plans to launch its first virtual concerts in the third quarter of 2022.

A mobile version of the metaverse is anticipated for some time in the fourth quarter of 2022.

BigOne Exchange chair Anndy Lian told Capita.com that Sandbox heavily relies on Ethereum’s performance, making the token quite volatile.

“Personally, I do like the developments of the project. But I do want to point out some angles for improvement. Firstly, the project relies heavily on Ethereum’s performance. I do think that, given the right situation, they should look at building on another blockchain or even their own chain.

“Secondly, their game needs to be attractive enough to draw in more users while retaining the old ones. I hope to see more game enhancement and token utility that comes along with it.”

Sandbox coin price prediction 2022-2030

Algorithm-based forecasting service WalletInvestor gave a bullish SAND price prediction at the time of writing (21 April), calling it an “awesome long-term investment”.

Based on its analysis of the cryptocurrency’s past performance, the forecasting service’s SAND crypto price prediction was it could trade at $6.4 by April 2023 and reach $21.2 in five years.

DigitalCoinPrice supported the bullish Sandbox crypto price prediction but at a much slower pace, seeing the coin reach $3.77 in 2022 and $5.57 by 2025.

The site’s SAND prediction was that the token was expected to hit $6.53 in 2027 and by 2030, the token’s price could reach $13.34

Please note that Sandbox predictions can be wrong. SAND coin price predictions shouldn’t be used as a substitute for your own research. Always conduct your own due diligence before investing. And never invest or trade money you cannot afford to lose.

Analyst views on SAND

Bitbank crypto market analyst Yuya Hasegawa told Capital.com that upbeat comments on the Sandbox metaverse from financial institutions like Bank of America and JP Morgan, as well as sales of collaborative items with celebrities and popular brands, are attracting investors to the platform.

Hasegawa was interviewed before Russia invaded Ukraine on 24 February 2022.

“However, although SAND and some other metaverse-related tokens have outperformed bitcoin in the last quarter, the current market environment – not limiting to the crypto market – is heavily affected by the situation at the Russia-Ukraine border and investors are being quite defensive,” he noted.

“So, even though SAND has a lot of growth potential in the long run, as the industry itself is still in a sort of ‘experimental’ or ‘developmental’ phase, the financial market as a whole has to wait and see how the situation at the Russia-Ukraine border rolls out.”

Invezz data analyst Dan Ashmore added that the token managed to piggyback off the wider boom in the metaverse caused by Facebook rebranding to Meta in October.

“Further fuel was provided via high-profile partnerships, including Gucci, Warner Music Group and Snoop Dogg (offering shopping experiences, virtual concerts and playable avatars respectively). Particularly exciting going forward is the focus on user-generated content.

“Objects and interactive games can be created and sold on the marketplace. With the internet increasingly focused on content creation (YouTube, TikTok etc), ATH above $8 could be achievable in the next year or two, although that will depend on the wider crypto market,” he concluded.

 

Original Source: https://capital.com/sandbox-sand-coin-price-prediction

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Solana price prediction: Where is the SOL coin headed?

Solana price prediction: Where is the SOL coin headed?

Dubbed the ‘Ethereum killer’, Solana’s native cryptocurrency, SOL, saw its price grow almost tenfold last year. However in recent months, the token has been struggling to pick up speed, losing nearly 70% of its value by mid-March 2022.

A recent spike in major outages faced by the blockchain threw many investors off, with SOL’s price falling to $107.24 by 20 April 2022.

On 12 April 2022, Solana was listed on Robinhood, with high hopes of attracting new investors. Can it regain past highs, and what’s in store for the Solana (SOL/USD) forecast?

What is Solana?

Unlike many other popular blockchains that operate using Proof-of-Work (PoW) or Proof-of-Stake (PoS) algorithms, Solana was the first to introduce a Proof-of-History (PoH) algorithm, which allows the blockchain to operate quickly while staying secure and decentralised.
Founded in 2017 by former Qualcomm employee and Dropbox software engineer Anatoly Yakovenko and his colleague Greg Fitzgerald, Solana’s main goal was to create an open-source project that implemented a new, high-performance permissionless blockchain.

Because of its PoH algorithm, Solana can process over 250,000 transactions a second , marking it as a competitor to Ethereum (ETH), the second highest cryptocurrency by market capitalisation, as of 20 April. Ethereum has become the leader in decentralised finance (DeFi) due to its compatibility with smart contracts, which enable the building of decentralised applications (dApps).

However, while Ethereum remains the second largest cryptocurrency, its popularity has also made the blockchain very expensive and slow to use, which allowed for the creation of Solana.

According to Solana’s official website, the platform is “the fastest blockchain in the world and the fastest growing ecosystem in crypto, with thousands of projects spanning DeFi, NFTs, Web3 and more”.

In addition to being fast, Solana is also cheap – average fees are less than $0.1 – and censorship-resistant, allowing the application to remain open and run freely.

Solana allows users to:

  • Mint, sell and trade non-fungible tokens (NFTs) at high throughput and low prices. As of 20 April, over 5.7m NFTs have been created on the network.
  • Create their own DeFi projects and easily write smart contracts aided by the blockchain’s high transaction throughput, very low fees, low latency and great efficiency.
  • Build Web3 games, which will operate at lightning speed.
  • Accept payments in cryptocurrencies.

Solana’s ecosystem covers a number of lending protocols, DeFi projects, NFT marketplaces, Web3 Apps and decentralised exchange (DEX) projects. It also includes Phantom, a Solana wallet built for DeFi and NFTs, and Audius, a decentralised music sharing platform.

Solana is powered by its native cryptocurrency, SOL, an ERC-20 token running on the Ethereum network. SOL is used to pay for transaction fees and any purchases in the Solana ecosystem and staking.

The total supply of SOL tokens exceeds 511m, with over 333m tokens currently in circulation, according to data provided by CoinMarketCap at the time of writing (20 April).

The SOL cryptocurrency has a market capitalisation of more than $35bn and is the 7th most popular token, above Dogecoin (DOGE), Terra (LUNA) and Shiba Inu (SHIB).

Will SOL coin price go up or down? Technical outlook

Since SOL’s launch in 2020, the coin has struggled to pick up any momentum moving sideways for around 10 months before starting to gain speed by the end of February 2021.
Between late February 2021 and mid-July 2021, the token battled values that dropped as low as $13 and did not exceed $56.

However, when the token’s value finally started to rise at the beginning of August 2021, it did so very quickly, surging by 407.1% within a month, up from $37.67 on 8 August 2021 to $191.04 on 8 September 2021, a then record high.

Solana to USD chart, 2020 - 2022

The SOL cryptocurrency reached an all-time high on 6 November 2021, hitting $258.93 – a 35.5% surge on its September 2021 value. The bullish trend was in line with other cryptocurrencies, including Ethereum (ETH), Bitcoin (BTC) and Binance (BNB).

Since then, however, the trend has reversed, with the SOL token price decreasing by 65%, down to $78.94 by 13 March 2022, amid broad negative market sentiment as tensions started to rise on the Russia-Ukraine border and the outbreak of the war.

A mini surge occurred in the following three weeks as the coin managed to win back 73.2% of its value, rising to $136.78, following the publication of Solana’s energy use report, which stated that the blockchain’s carbon footprint has greatly decreased since December 2021.

Solana to USD chart, January - April 2022

SOL token technical analysis provided by CoinCodex showed that short-term sentiment for the coin was pretty neutral at the time of writing (20 April), with 22 indicators pointing to ‘sell’ and 8 to ‘buy’.

relative strength index (RSI) reading of 27 was in oversold territory. A reading of 30 or below would indicate that the asset is becoming undervalued and a trend reversal is likely to occur. The token is trading above its five-and 10-day moving averages, yet close to its R1 resistance level of $110.82.

Is Solana (SOL) a good investment?

Some of the biggest SOL coin news came as the platform announced a change in the leadership of its Solana Foundation Council on 18 April 2022. The council was established in 2020 with the aim of advancing the adoption of decentralised technologies as a public good. It’s been helping the Solana ecosystem develop.
On 29 March 2022, Solana launched Solana Pay, a “build your own online store” application on its blockchain. It allows users to create a storefront and accept low-fee, global payments directly into their wallets without the need for a bank or credit card.

Since launching, over 600 merchants have engaged with Solana Pay while others started incorporating the ecosystem into their payment flows, thus encouraging space for new investors to join the blockchain.

What is your sentiment on ETH/USD?

On 1 April 2022, the platform also announced that the Solana Hacker House World Tour will be making a comeback in new cities globally, including London, Tokyo and Barcelona, sparking international interest.

Additionally on 12 April 2022, Solana was listed on Robinhood, which, according to BigONE Exchange chair in Asia, Anndy Lian, is likely to boost SOL coin’s future price.

“An equally impressive partnership which has supported the bullish price… is the 12 April news from popular app Robinhood that it was listing SOL for the first time,” he said.

Lian told Capital.com that in addition to the listing, the price of the SOL coin to USD has been driven by debate sparked by Tesla (TSLA) CEO Elon Musk’s bid to buy Twitter (TWTR).

“This announcement over the Web3 future of the social networking platform, prompted FTX crypto exchange CEO Sam Bankman-Fried to suggest Twitter could move on-chain using the low-cost, high-speed Solana blockchain.”

In the past, Solana has hinted at wanting to work with Musk, replying to his tweets on the social media platform.

In addition, Lian told Capital.com that FTX’s investment in its own NFT platform on Solana , as well as OpenSea’s beta version launch on the blockchain, could boost SOL coin’s future price.

“Set in the context of pressure on altcoins, the outlook for the token price could be modestly optimistic after a bearish beginning to 2022,” he told Capital.com.

“Recent partnerships news support this thesis, and it’s also supported by the ‘Social Solana Prices Estimates’ on CoinMarketCap; with over 5000 voting (median average) for a 17.75% increase in price to $121.49 by the end of April; and over 2000 voting for a $127.42 price level by the end of May.”

On the minus side, however, It’s important to note that the blockchain is prone to network outages. During March and April 2022, Solana suffered nine network outages, seven of which were determined as “major”.

“The two key risks are firstly, if the bottom falls out of the altcoin market due to a ‘black swan’ event such as a Russian default impacting the wider markets; and a specific risk being if Solana suffers another serious network outage which leaves not just users but partners looking to other layer 1 options for a low cost, high speed blockchain alternative to Ethereum,” Lian told Capital.com.

Solana prediction 2022-2025, 2030

Despite recent bearish SOL token price action, algorithm-based forecasting service Wallet Investor gave a bullish SOL coin price prediction at the time of writing (20 April).
The site noted that SOL is “an awesome investment”, adding that it has a long-term earning potential of 576.24%.

Based on its analysis of past price performance, the website expected that the token could trade at $226.371 in 2023 and jump to $726.904 by 2027.

DigitalCoinPrice supported the positive Solana (SOL) crypto price prediction, but projected a much slower pace of growth in the following years, predicting that the token could rise to $150.10 by the end of 2022, $207.89 by the end of 2024 and $230.34 by the end of 2025.

For the end of 2028, the site projected a $387.31 SOL price target. Its long-term SOL future price prediction suggested that the cryptocurrency could have the potential to reach $523.61 by 2030.

Note that price predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence. And never invest or trade money you cannot afford to lose.

 

Original Source: https://capital.com/solana-sol-price-prediction-is-it-a-solid-investment

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Enjin price prediction 2022-2030: Can ENJ coin regain growth?

Enjin price prediction 2022-2030: Can ENJ coin regain growth?

In 2021, Enjin became synonymous with non-fungible tokens (NFTs). However, the project started off as a blockchain ecosystem in 2017.

Its native cryptocurrency, Enjin coin (ENJ), started to gain momentum in 2021, when NFTs became hot news in the cryptocurrency world.

Since reaching its all-time high of $4.6858 on 25 November 2021, the token has struggled to climb back to the top, falling by 66.2% to $1.58, as of the time of writing (14 April).

Can ENJ rise back to its November 2021 value, and what’s in store for the Enjin token price prediction?

What is Enjin crypto?

Enjin, founded in 2009 by Maxim Blagov and Witek Radomski, was highly involved with the gaming industry.

Eight years later, following a “successful” initial coin offering (ICO) the company “established itself as a leading blockchain ecosystem developer, building a suite of user-first blockchain products that enable anyone to easily manage, explore, distribute, and integrate blockchain assets.”

It now acts as a guide for game developers, content creators and gaming communities who want to step into the cryptocurrency world but might not know where to start.

The platform allows people to create games and a number of NFTs in the shape of collectibles, art, music and real-world assets like comics, rare paintings and real estate.

According to the project’s whitepaper, Enjin is aiming to solve some of the biggest challenges faced by the crypto gaming community:

  • Payment fraud
  • High fees and slow transactions
  • Lack of true ownership and rarity over virtual items
  • Digital items and currencies often tagged to one game and non-transferable between games
  • Games that are not tailored to user experience
  • Developing crypto platforms being time-consuming and expensive
  • Lack of real money rewards for gamers

To solve these issues, Enjin developed its own native cryptocurrency, Enjin(ENJ), an ERC-20 token powered by the Ethereum (ETH) network, meaning it can also run smart contracts. ENJ also acts as a utility token for NFTs.

ENJ is also:

  • Trustworthy because users can always melt their NFTs back into ENJ which increases confidence in the cryptocurrency
  • Existing NFTs are melted back into ENJ. The token’s rarity increases, lowing supply and increasing value
  • Authentic
  • Tangible
  • Not influenced by inflation (because of their limited supply)
  • Has a minimum reserve price

Enjin has a fixed maximum supply of one billion coins, but as the ecosystem grows and the more tokens are locked into in-game digital assets, the number of ENJ circulating will decrease.

The Enjin token crowd sale, which ran from  3 October 2017 to 1 November 2017, was called a “massive success” by the company. The token’s ICO raised 75,041 ETH, worth $18.9m at the time.

To date (14 April), over 874m tokens are in circulation, according to data provided by CoinMarketCap. ENJ has a market capitalisation of more than $1.3bn and is ranked as the 70th largest cryptocurrency.

It is important to note that Enjin has a dual token ecosystem. In addition to ENJ, the company also has the Efinity Token (EFI). Both cryptocurrencies work in unison, however while ENJ is used mainly for NFTs, EFI fuels the decentralised metaverse.

Will Enjin go up? Technical view

After the token’s launch in November 2017, the price moved sideways for around four years, slightly peaking at the start of January 2018 and in early March 2019. It wasn’t until the start of 2021 that the token really took off.

The Enjin token surged by 1,799.4% between the 1 January 2021 and 31 December 2021, rising from $0.136 to $2.5832 amid the hype around NFTs.

Enjin coin to USD, 2017 - 2022

Like many cryptocurrencies, the token soared in November 2021, surging by 146.5% between 26 October ($1.9007) and 25 November 2021 when it reached its all-time high value of $4.6858. Earlier, the project enjoyed a series of positive news, including the announcement of a $100m Efinity Metaverse Fund for blockchain projects, its coin becoming accepted on NOWPayments and listed on CoinList alongside Axie Infinity’s native token (AXS).

However, after a successful November, the token started on a downwards trend, losing 50.7% of its value and falling to $2.3083 by 20 December 2021.

On 21 December 2021, Enjin partnered with play-to-earn platform Senzu World and started a 1,000 ENJ giveaway  on 22 December 2021. This boosted its price by 38.05% in the next six days to $3.1867 by 26 December 2021.

Enjin coin to USD, January - April 2022

The new year has been bearish for the Enjin token as its value dropped by 41.2% between 1 January 2022 ($2.6887) and 14 April 2022 ($1.58) amid negative market sentiment as tensions rose on the Russia-Ukraine border. However, recent Enjin coin news remains positive.

In February, Enjin launched a weekly podcast called The Enjin Room that highlights the innovators and builders in the Enjin ecosystem. This was followed by the launch of Efinity parachain, first introduced in 2017 as a concept. This year, Enjin has also partnered with two play-to-earn platforms CryptoBlades and BlockTrucks.

In April 2022 Enjin released its development roadmap for the coming quarter. It lists a number of goals, including new upgrades for Efinity.io, the Alpha release of its Efinity Platform and the start of security testing of its Enjine Wallet 2.0.

Enjin token technical analysis provided by CoinCodex showed that the short-term sentiment for the token was largely bearish at the time of writing (14 April), with 21 indicators pointing to ‘sell’ and 10 to ‘buy’.

Technical analysis provided by FXStreet senior technical analyst Ali Martinez maintained that the Enjin (ENJ/USD) forecast has potential to grow.

“Enjin Coin’s price action appears to be contained between the 50-week moving average at $1.90 and the 100-week moving average at $1.23. The NFT token has been trading in this price pocket since the beginning of the year without being able to overcome resistance or crumble below support,” the analyst told Capital.com.

“Only a decisive weekly candlestick close outside of the $1.90-$1.23 trading range will determine where ENJ goes next. Slicing through resistance could propel Enjin Coin to $3 or even a new all-time high at $6.80, while failing to hold above support could see it crash to $0.78.”

Is Enjin a good investment?

BigONE Exchange chair in Asia, Anndy Lian, told Capital.com that despite recent downward price action, the Enjin token is one of the top 10 cryptocurrencies in the metaverse space.
“Enjin coin is a relatively low-risk investment based on its recent price movements. However, the greatest concern will be around the successful performance of NFTs over time.”

by Dr. Hamed Taherdoost

“They are in fact catching up with the big boys like MANA and Sandbox. The token price seems to be holding up well despite the drop in price around one month ago. The on-chain data shows uptake in the volume of around 300 million, this signals that whales are still eying this token at the current price,” Lian said.

Lian added that the Enjin metaverse has been attracting FOMO (fear of missing out) retail investors, while the Enjin ecosystem is constantly expanding with “games like Space Misfits, which is built on the Enjin blockchain” that have also helped ENJ bring in more players.

“BIGG Digital Assets Inc. … owner of Netcoins (Netcoins.ca) (“Netcoins”), an online cryptocurrency brokerage, launches six new digital assets for their users and one of which is ENJ,” he added. “This is also a positive sign, putting ENJ as one of the more trusted baskets of coins recognised by institutions.”

E-business professor at University Canada West, Dr. Hamed Taherdoost, told Capital.com that the token’s development team has been quite successful in employing the latest technologies and gaining support from the global gaming community.

“Enjin coin is a relatively low-risk investment based on its recent price movements,” he said. “However, the greatest concern will be around the successful performance of NFTs over time.”

According to Dr. Taherdoost, ENJ’s listing on the popular cryptocurrency platform Coinbase was one of the many factors that boosted its price at the start of 2021, as it opened a gateway to a wider variety of users to join the Enjin ecosystem.

“Other driver factors in this regard were Efinity and JumpNet as new products launched by Enjin. Besides, the price has been fluctuating around its support level that improves the likelihood to be increased in the short term,” Dr. Taherdoost added.

The further development of Efinity and JumpNet, could increase ENJ’s price and outlook, the professor noted.

“JumpNet provides the opportunity to trade ERC-1155 without paying transaction costs and Efinity is a decentralised blockchain that is optimised for NFTs that will offer the possibility to make free transactions among blockchain,” he said.

“Despite the uncertainty in the market, no strong drop in price is expected for Enjin coin in case of making creative and smart developments in collaboration with different companies and gaming websites.”

Enjin price prediction 2022-2030

Despite the recent downward price action, algorithm-based forecasting service Wallet Investor gave a bullish Enjin crypto price prediction at the time of writing (14 April).
The site noted that ENJ is “an awesome long-term investment”, adding that it has a long-term earning potential amounting to 427.2%.

Based on its analysis of past price performance, the website expected that ENJ could cost $2.988 in 2023 and jump to $8.335 by 2027, surpassing its November 2021 all-time high.

DigitalCoinPrice supported the positive Enjin coin price prediction but saw a much slower pace of growth in the following years, expecting the token to grow to $2.24 by the end of 2022 and reach $3.79  by the end of 2025.

By the end of 2028, the site projected that the Enjin token could reach $5.58, surpassing its all-time high. Its long-term Enjin future price prediction showed the cryptocurrency reaching $7.20 by 2030.

Note that price predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence and never invest or trade money you cannot afford to lose.

 

Original Source: https://capital.com/enjin-price-prediction-will-enj-go-up

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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