Why is ENG currency delisted on OKEX (What is EN coin)

Why is ENG currency delisted on OKEX? Editor’s note: This article is from according to the authorization of Odaily Star Daily news.

According to reports, starting at 16:00 Beijing time on March 15, OKEX delisted ENG coin (abbreviated as “Eng”, English name: “eng”) and suspended trading and withdrawal services. “As of now, OKEX has run out of funds.” It is reported that “ENG” is the name of a project token launched in February this year. After June 18, 2017, the code of this project was written on the blockchain and continued until early January 2018. However, due to this reason, its price fell, and there were many problems. For example, the contract team had to close the platform due to operational vulnerabilities. Since then, most investors in the market still lack confidence in the project. Therefore, a lot of people who buy this kind of project or hope to participate in it choose not to hold these projects and trade on the exchange; but some friends have found that this will cause some negative impacts, so they turn to a project called ongcoin (also known as “eng coin”) for investment. In fact, they just want to obtain a relatively stable price and then sell it to make a profit, so that the originally competitive and attractive cryptocurrency becomes a value storage tool, instead of blindly betting on other projects like before. Of course, this process may also generate a series of problems, such as how to purchase investment products that can help them grow.

So why is this? One is because of market environmental factors, and the other is the result of various events caused by previous promotions. For example, recently, there has been a sudden announcement by a DeFi mining project on EOS that they will support ETH mining in the next few months. This is like directly hitting the “hot search” list, which means that everyone can rest assured that if they operate according to the mentioned pattern, there should not be much risk of big fluctuations, but instead, it will increase users’ trust in this product.

What is EN coin

According to official sources, EN is a cryptocurrency. EN is a blockchain-based digital currency issued by Enjin Company, positioning itself as a decentralized global payment network. According to the introduction, Enjin is a scalable and transparent network system based on smart contracts and cryptography, supporting transactions and transfers across multiple blockchains using public chains.

It is reported that Enjin was established in Japan in 2017 and currently has over 100 million daily active users. It went public on the Tokyo Exchange on August 2, 2020.