Bitcoin is Booming - What is your favorite cryptocurrency? - #3 Enjin Coin

Welcome to my third post on the #bitcoinbooming series.
I talked about some rare coins in my last two posts

Numeraire;
https://steemit.com/hive-167622/@alphafx/bitcoin-is-booming-what-is-your-favorite-cryptocurrency-2-numeraire

Electroneum;
https://steemit.com/hive-167622/@alphafx/bitcoin-is-booming-what-is-your-favorite-cryptocurrency-1-electroneum

Today for a change I'll talk about my favourite altcoin in the top 100

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ENJIN

Gamers! There is a coin for us, the Enjin coin.
Enjin is a project that has shown initiative and considerable growth. This platform supports over 300,000 gaming communities, with over 20 million registered gamers. In 2017, an ICO was created to bring the platform to the blockchain, with several new and interesting features.
How well has this project faired since then? We will take a look, read on.

ENJIN COIN (ENJ)

Ranking no.93 on market capitalisation, this token was built on the ERC-20, on the Ethereum network. Not only does it incorporate gaming, but it also supports smart contracts. The enjin coin set the pace within the etherum network by becoming of the first projects that tested the Raiden Network, which can handle millions of transactions.
Enjin also has plans for dozens of APIs and SDKs.

ENJ can be traded on Binance, ZG.com, coin tiger, BitAsset, VCC exchange and more.

Enjin Coin Stats

Market cap: $121,019,788
Volume: $10,782,271
Circulating supply: 823,130,411 ENJ
Maximum supply: 1,000,000,000 ENJ
Value: $0.15

Stats from coinmarketcap.com

Overall,
All Time High: $0.493384 USD (Jan 07, 2018)
All Time Low: $0.015620 USD (Nov 02, 2017)
Enjin Coin ROI (from initial price): 504.84%

In the past 24 hours, ENJ has gone up 3.21%.

Special Features

1. VIRTUAL GOODS
   Enjin coin backs different in-game currencies through a system know as "virtual goods". It lrovides tools for developers to build their coins specific to their commimunities, and allow it to be backed by enjin.

Source: https://enjincoin.io/enjincoin_whitepaper.pdf

1. ENJIN ERC-1155 SUPPORT
   Enjin gives access to its users, the assets of the ERC-1155. Users can now access an in-game catalogue of the entire Enjin community. It brought the transparency and security in cryptoverse to the gaming world.

2. MASSIVE ADOPTION
   Even before the creation of the Enjin Coin the company had over 60 million monthly pageviews, 20 million registered users, and 300,000 gaming websites.
   That has massively encouraged the adoption of the Enjin Coin. Similarly, non gamers have grown interested in buying and storing of this spectacular coin. If you are interested in buying, then read on, we are getting to that.

PRICE PERFORMANCE

Seeing over 500% gain hlgenerally, it forllowed December 2017 rally, and then dropped with the market in January. It remained at these lower levels since then, and was traded at $0.103285 as of the end of May 2018.

It is expected to keep rising as it is gaining massive adoption, due to the removal of ENJ from circulation as additional assets are added to the blockchain.

In 2019 ENJ saw some bullish movement in the first quarter following the crypto market, reaching $0.215806 on March 8, 2019. Price dropped steadily lower for some time. Then there was a rally in the beginning of December 2019 that saw price double in less than two weeks from November 25 through December 5.

The all time high for ENJ is 0.493, attained January 7, 2018, while the all time low, 0.015 was attained November 2, 2017.

MY TECHNICAL ANALYSIS

Looking at the fibonacci levels, you can see a support formed at the 0.618 fib level(Zone 2), also know as the strongest fib level. Price seem to have tested it multiple times, by the indication of the candle wicks, and reversed each time. The level is strong. We are expecting price bounce of this level, as the reversal has already begun, then hit the resistance at zone 1, test it multiple times and drop back to the zone 2 before breaking the resistance with serious bullish power, as the black arrows I drew indicate.
30% chance of failure to do so, then the zone 2 will hold for a while before giving way and price will fall all the way to support at zone 3.

BUYING AND STORING ENJIN COIN
ENJ cannot be purchased with fiat currency (except the South Korean Won). You will need to use USDT, BTC or ETH. The largest exchange for ENJ is Binance, but you can also LAToken or Bithumb.

Although Binance holds the majority of the trading volume, there is a balance in the trading volume, across seceral exchanges. This works to the advantage of the price discovery of ENJ tokens as there are more exchanges to reduce wrong pricings.

To store ENJ in a safe offline wallet, I recommend Enjin’s own wallet. However, given that this is an ERC20 token you can store it in any Ethereum compatible wallet including hardware wallets like metamask, etc.

MY STANCE
Being a gamer (ForestKnight and 9lives Arena), I came across the enjin coin throught the teeka tiwari list too and joined the games to get some coins. Overtime inhave acquired more through exchanging ETH for ENJ and hold avout 300ENJ. That being said, I intend to hold till the $1 mark.

What do you think about this coin?
I will love to hear from you.

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DISCLAIMER
This is not financial advice, nor a guarantee or promise in regards to any result that may be obtained from using the above content. So it should not be considered as financial and/or investment advice. No person should make any kind of financial decision without first consulting their financial adviser and/or conducting their research and due diligence.