Efinity (EFI) token dumps 71% less than 24hrs after launch

Efinity EFI token dumps 71 less than 24hrs after launch2
Efinity EFI token dumps 71 less than 24hrs after launch2

Efinity (EFI) token dumps 71% less than 24hrs after launch – The EFI is the native token of the Efinity Network have fallen over 71% in price since it began trading on exchanges yesterday after it raised $20million on coinlist June 24.

EFI token traded as high as $3.15 according to data from Coingecko and currently trading at $0.89 as at the time of writing this report. Efinity raised $20million from token community sales on coinlist after it raised $18.9million in private sales earlier this year.

Efi have a total supply of 2billion tokens with a fully diluted valuation of $1.78billion marketcap according to data available at Coinmarketcap.

Efinity EFI token dumps 71 less than 24hrs after launch
Efinity EFI token dumps 71 less than 24hrs after launch – SOURC: TradingView

EFI is the native token of the Efinity Network, designed for transaction fees, liquidity, and rewards. Every EFI holder will be able to submit and vote on governance proposals directly in their wallet, helping steer the future of the Efinity network. The maximum supply of EFI is 2 billion.

Efinity is built by Enjin, a blockchain technology company at the forefront of the NFT space. Founded in 2009, Enjin first launched a gaming community platform called the Enjin Network and grew it to more than 20 million users over the course of a decade.

EFI Token distribution
EFI Token distribution – SOURCE: Coinlist

In 2017 following a successful ICO, Enjin established itself as a leading blockchain developer, creating one of the first-ever NFTs, and authoring ERC-1155, a groundbreaking Ethereum token standard that enables developers to deploy both fungible and non-fungible items in a single smart contract. Enjin’s end-to-end ecosystem offers individuals, brands, and businesses everything they need to utilize NFTs.

Trusted by global brands like Microsoft, Samsung, BMW, Atari and a wide range of game and app developers, Enjin has developed an end-to-end ecosystem of closely integrated blockchain products used by millions of individuals, startups, and enterprises across the globe.

To explore featured Enjin-powered apps, games, and projects made by talented developers and forward-thinking companies across the world, please visit Powered by Enjin.

Efinity is a core pillar of Enjin’s multi-chain ecosystem, alongside JumpNet and Ethereum.

Two-way bridges between JumpNet, Ethereum, and Efinity will enable individuals and businesses to create NFTs that can easily move across different chains, taking advantage of each network’s unique benefits and features.

Efinity is built to radically redefine what NFTs are, what they can do, and how individuals and companies can use them.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.

About Sam Gabriel 1699 Articles
Samson Gabriel a graduate of mass communication from Auchi Polytechnic, he is a passionate writer with experience in radio scrip writing. He brings his experience from the broadcast media into play here as he continues to enjoy his passion as a journalist. He can be contacted via whats-app on: +234701105670

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