Enjin Coin

Rewards

Coin

<p style="text-align: justify">Supply is a factor that directly affects prices in every field, and its impact on cryptocurrency prices is felt very quickly. Investors who can trade 24/7 immediately price in developments that could change the market balance for the cryptocurrency in question. A recent announcement for ENJ Coin encouraged sellers, resulting in a price drop.</p>
<h2 style="text-align: justify" id="why-is-enj-coin-falling">Why Is ENJ Coin Falling?</h2>
<p style="text-align: justify">The team announced a few minutes ago that following the token transition that started on September 13, a reward pool has been announced to secure the Enjin <a href="https://en.coin-turk.com/thailand-governments-crypto-wallet-project-why-was-the-launch-date-postponed/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Blockchain</a>. Accordingly, 250 million Enjin Coin (ENJ) will be distributed from the early governance rewards pool in 10 equal installments starting from January 15, 2024.</p>
<p style="text-align: justify">To encourage the community to stake, the team is announcing a major incentive that will increase the circulating supply. If there are no stakers in PoS networks, the network is not secure, and high participation in this regard is important. Rewards will start from Block 3,247,000 and are expected to be released in 10 equal installments starting approximately on January 15, 2024. Each time, 25 million tokens will enter circulation, creating a risk of sale.</p>
<p style="text-align: justify">The Enjin Blockchain currently consists of the Enjin Relaychain and Enjin Matrixchain, and transactions are processed on the Enjin Relaychain. Enjin Relaychain transactions are processed by validators. To ensure the security of transactions, they must be processed by multiple validators. The Enjin Blockchain has an annual token inflation rate of 4.8927482% to support network governance, and new tokens are released each period.</p>
<h2 style="text-align: justify" id="enj-coin-commentary">ENJ Coin Commentary</h2>
<p style="text-align: justify">Although this development is negative for supply in the short term, it supports network security and stake participation in the long term. That is, a significant portion of the new and old supply may continue to be locked during the additional one-year unlocking period because the compound stake income will be attractive to validators. The real issue should be what the ENJ Coin team will do when the stake reward pool is depleted.</p>
<p style="text-align: justify"><img loading="lazy" decoding="async" loading="lazy" class="wp-image-290862 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/ENJUSDT_2023-12-18_21-48-06.png" alt="" width="1254" height="578"></p>
<p style="text-align: justify">At the time this article was prepared, ENJ Coin, which was finding buyers at $0.311, turned its direction downwards with <a href="https://en.coin-turk.com/bitcoin-price-drops-as-spot-bitcoin-etf-is-removed-from-dtcc-list/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> sales after the $0.37 peak. The twice-tested $0.3 support is strong and can stay in place for now if BTC does not suffer a major loss.</p>
<p style="text-align: justify">However, in the scenario where support is lost, sales could continue down to $0.275 and $0.2.</p> <span style="font-weight:bold;font-size:16px">Continue Reading:</span> <a href="https://en.coin-turk.com/understanding-the-price-dynamics-of-enj-coin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/understanding-the-price-dynamics-of-enj-coin/</a>

Understanding the Price Dynamics of ENJ Coin

Inhoudsopgave

COINTURK NEWS

Andere artikelen gepubliceerd op 18 dec 2023

Dogecoin Co-Founder Criticizes AI and Crypto: Driven by Greed?

Ethereum ETFs: SEC Postpones Decision on Hashdex and Grayscale Applications

Why Only Certain Investors Will Prefer a Bitcoin (BTC) ETF

Trading Bitcoin vs. BTC Futures: A Comprehensive Guide

BTC Declines, SOL, ADA, XRP, and LINK Shine Amid $16M Digital Asset Outflows

Solana memecoin jackpot: Trader turns $226K into $1.69m in lightning-fast gamble

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!