Enjin Coin was on the rise prior to the recent sell-off. That's why this could be a great buying opportunity for investors in the cryptocurrency space.
The metaverse is glowing right now, and Enjin Coin (CRYPTO: ENJ) has quickly become a cryptocurrency that investors have seen as a way to play on the growth of this space.
However, the Enjin coin has been down in recent times. Since closing on Friday, ENJ is down 14,7%. Furthermore, in the past week, this token has lost more than 30% of its value.
A market-based cryptocurrency sell-off this weekend, which reduced most of the tokens, indiscriminately.
So what should you do?
Enjin Coin skyrocketed in November, following an announced move by Enjin to launch a $ 100 million metaverse fund. This Efinity metaverse fund is intended to support various projects built on the infrastructure of Enjin and Polkadot.
For those looking to the future of blockchain and cryptocurrency-related metaverse projects, Enjin Coin has become a go-to option for investors. Over the past year, Enjin Coin has appreciated by over 1.700% and continues to be one of the best investments for token lovers, considering the growth of the metaverse to hold on to.
However, this recent market correction has provided investors with a discount to consider. The 25% drop since Friday's close, starting from the lows of a couple of days ago, could prove to be a great buying opportunity for those who are bullish on the metaverse sector. Currently, Enjin Coin remains nearly 45% below its all-time high set just a few weeks ago.
So where to buy?
There are many reasons why investors are talking about the metaverse as a place to invest right now. The rise of another variant of COVID-19 provides another catalyst for the surge in home technologies. As a cutting-edge cryptocurrency network focused on the metaverse, there is a lot to like about how Enjin Coin is positioned right now.
Of course, this recent market-based volatility in the cryptocurrency space could prove protracted. Consequently, it can be difficult to time the bottom with this fix. Patience is the key to investing, and it is entirely possible that there could be far more significant drawbacks from here.
However, the rather rapid decline we've seen in Enjin Coin could prove to be a great buying opportunity for those who believe this metaverse trade indeed has a bright future. If this turns out to be a short-term decline on a long-term uptrend, long-term investors may do well to buy this decline.
Where is it? Those who don't have much experience could do so by trading CFDs on cryptocurrencies. Like? With typical platforms Bitcoin Revolution, which allow you to enter this space with a minimum investment of $ 250.
