Price Action
Since last week, Enjin Coin’s price went down by -4.68%. It is below its 20 day moving average by 13.53%, so it’s a bit of a ways off. 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. Now when considering volatility, Enjin Coin is more prone to sizable price moves than 81% of coins in our index, so bear that in mind if you decide to trade it. Based on volatility over the past three weeks, we can expect Enjin Coin to experience a price range in US dollars between 0.1249995 and $0.1999505.
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 5,468,313 and 25,509,173 currency units. In the three weeks prior, both price and volume have been declining. Enjin Coin experienced a turnover rate of about 2.35% 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 66.67% of the cryptocurrencies we monitor, which means it’s above average and thus will have enough liquidity for many investors/traders.
Engagement Update
The number of wallets holding Enjin Coin went from 27,121 to 27,573 in the past week, marking a change of 1.67%. As for overall transactions, they increased from 406,450 to 422,239 — an increase of 3.88%. Enjin Coin’s combined growth rate — meaning the sum of its growth rate in holders and transactions — is 5.55% which puts it ahead of 68.75% of the coins in our index. One interpretation of this may be that the coin’s engagement is growing at an above average rate.
Technology Development Status
At the moment, Enjin Coin has 8 repositories open to the public on GitHub, with the oldest one now being 1.7 years young. Its most recent public update was within the past day, which is pretty good, as it suggests the coin is still under active and rapid technical development. Enjin Coin’s public repositories collectively have a total of 117 watchers, which is very bad on a relative basis; it bests only 19 % of the 100 similar coins in our index. The coin has 2 total outstanding issues across all 8 of its public repositories on GitHub. In comparison 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 95% 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
