Price Action
In the week prior, the price for Enjin Coin went down by -7.11%. It is below its 20 day moving average by 6.92%, so it’s slightly away. Enjin Coin’s bullish momentum, determined by its distance from its 20 day moving average, is among the worst compared to other cryptocurrencies, and thus may indicate the coin has swung too far and too fast — and may thus be due for consolidation or a bullish correction. Regarding volatility, Enjin Coin is more volatile than roughly 30% of coins in our index, so it’s notably less volatile than the other cryptocurrencies we’re monitoring. Looking ahead, if the upcoming week mirrors the volatility of three past three weeks, the price range for Enjin Coin in US dollars is expected to be between $0.1315449 and $0.1602351.
Where to trade Enjincoin (symbol: ENJ): Gate, Yobit, Stex, Binance, Ethfinex
Volume Update
In the week prior, the daily volume for Enjin Coin has ranged between 2,868,310 and 25,002,352 currency units. Over the past three weeks, both price and volume have been declining. Enjin Coin experienced a turnover rate of about 1.63% over the past week, which means that is the percent of its available money supply that is traded daily. This turnover rate is higher than approximately 54% of the cryptocurrencies we monitor, which means it’s middle-of-the-pack; investors/traders may thus wish to consider their liquidity requirements to make sure the coin matches their needs and their expected trading volume.
Engagement Update
The number of wallets holding Enjin Coin went from 29,375 to 29,775 in the past week, marking a change of 1.36%. And in regards to cumulative transactions logged on the blockchain, they went from 481,386 to 491,509, which amounts to a change of 2.10%. This translates to a combined engagement growth rate of 3.46% for Enjin Coin — which is higher than 72.73% of the cryptocurrencies we’re reporting on. One interpretation of this may be that the coin’s engagement is growing at an above average rate.
Technology Development Status
Enjin Coin currently has 10 public repos on GitHub, with the oldest one clocking in at 1.84 years young. Its most recent public update was within the past week which is not bad, as the coin is still being updated routinely. Enjin Coin’s repos that are visible to the public collectively have 132 watchers — that’s more than only 27 % of the 100 similar coins in our index. The coin has 3 issues reported across its public repositories. Relative to the number of watchers it has, though, its open issues count doesn’t seem like something to worry about. To put the situation in context, Enjin Coin has a better issue/watcher ratio on its GitHub than 88% of similar coins we’re tracking.
Where to Buy
You can trade Enjincoin, listed under the symbol ENJ, through the following exchanges: Gate, Yobit, Stex, Binance, Ethfinex.
Article by SixJupiter
