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What is Efinity Token (EFI)?

Efinity Token basic info

Name:Efinity Token
Ticker:
Introduction:

What Is Efinity Token?

Efinity Token, or EFI, is a forward-looking blockchain project built on the Polkadot network, focusing on digital assets, particularly non-fungible tokens (NFTs). It aims to provide a modern, developer-friendly NFT experience, addressing the need for improved infrastructure and tokenization in the blockchain space. Efinity stands out in the crowded blockchain ecosystem by prioritizing NFTs and various kinds of token production and transfers, while keeping transaction fees in the background. This approach enhances the user experience by shifting the focus away from the complexities of transaction fees, thereby encouraging more transactions and user engagement on the platform.

Resources

Whitepaper: https://enjin.io/whitepaper

Official Website: https://enjin.io/

How Does Efinity Token Work?

Efinity operates as a Polkadot-based fourth-generation blockchain, leveraging the latest technology to unite NFT creators, traders, and collectors in a secure and responsive environment. The platform's design simplifies the most common NFT processes, such as creation and transfer, and addresses issues like high fees and developer restrictions. Efinity's universal smart contract framework ensures efficient execution of contracts within the Polkadot ecosystem, enabling developers to create diverse decentralized applications (Dapps) across various parachains.

The network's interoperability is a key feature, allowing seamless communication and value transfer between different blockchain networks. This is achieved through advanced cross-chain bridge protocols, making Efinity a hub for a wide range of digital assets. The Efinity Marketplace serves as a central point for trading tokens and NFTs, fostering a vibrant community of users who can also participate in the network's governance. Additionally, EFI token holders can earn rewards through various means, including staking EFI tokens, which offers passive income opportunities.

What Is EFI Token?

EFI, the Efinity Token, is the primary utility token of the Efinity network. It is used for a range of purposes, including paying transaction fees, purchasing assets, staking, and participating in governance. With a maximum supply of 2 billion tokens, EFI tokens are distributed to reward network participants for their contributions to network maintenance, transaction processing, and development.

What Determines Efinity Token’s Price?

The price of Efinity Token (EFI) is influenced by a combination of factors typical in the cryptocurrency and blockchain markets. Firstly, market demand and supply play a pivotal role. EFI's maximum supply is capped at 2 billion coins, creating a scarcity that can drive up the price as demand increases. Demand for EFI is closely tied to the adoption and usage of the Efinity platform, especially in the burgeoning NFT market. As Efinity continues to attract developers, creators, and users for NFT creation, trading, and other blockchain activities, the increased usage of EFI for transactions, staking, and governance can lead to a higher demand for the token.

Another key factor is the overall performance and development progress of the Efinity network. As a project built on the Polkadot network, Efinity's advancements in solving key issues like interoperability, transaction fees, and user experience directly impact investor and user confidence, thereby influencing EFI's price. Technological upgrades, successful partnerships, and integration with other blockchain ecosystems can lead to positive market sentiment, driving up the token's value. Additionally, the broader market trends in the cryptocurrency and blockchain industry, including regulatory changes, investor sentiment, and technological advancements, also significantly affect EFI's price. As the crypto market is known for its volatility, these external factors can lead to rapid and substantial price fluctuations.

For those interested in investing or trading Efinity Token, one might wonder: Where to buy EFI? You can purchase EFI on leading exchanges, such as Bitget, which offers a secure and user-friendly platform for cryptocurrency enthusiasts.

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Current price:
All-time high:$3.37
All-time low:$0.03835

EFI supply and tokenomics

Circulating supply:86,915,140 EFI
Total supply:2,000,000,000 EFI
Max supply:2,000,000,000 EFI
Market cap:$8.38M
Fully diluted market cap:$192.86M

Links

Buy Efinity Token for $1Buy EFI now

What is the development prospect and future value of EFI?

The market value of EFI currently stands at $8.38M, and its market ranking is #1258. The value of EFI is not widely recognized by the market. When the bull market comes, the market value of EFI may have great growth potential.

As a new type of currency with innovative technology and unique use cases, EFI has broad market potential and significant room for development. The distinctiveness and appeal of EFI may attract the interest of specific groups, thereby driving up its market value.

What will the price of EFI be in 2025?
Based on EFI's historical price performance prediction model, the price of EFI is projected to reach $0.1407 in 2025.
What will the price of EFI be in 2030?
In 2030, the EFI price is expected to change by +4.00%. By the end of 2030, the EFI price is projected to reach $0.2410, with a cumulative ROI of +148.99%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of EFI and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is EFI worth investing or holding? How to buy EFI from a crypto exchange?

If you want to buy EFI, the following information may be helpful for your investment decisions:
In the last 7 days, the price of EFI has fallen by -4.59%, leading to negative returns for most EFI investors. The market is currently pessimistic about the price trend of EFI.
It is important to note that the current price of EFI has retreated by -97.14% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether EFI is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in EFI or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of EFI, if you want to buy or sell EFI, you can consider Bitget for your trading needs. The best place to buy EFI is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in Efinity Token has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Efinity Token. Here's a step-by-step guide on how to buy Efinity Token on Bitget.

How to get Efinity Token through other methods?

Using cash to buy Efinity Token is not the only way to obtain Efinity Token. If you have the time to spare, you can get Efinity Token for free.
Learn how to earn Efinity Token for free through the Learn2Earn promotion.
Earn free Efinity Token by inviting friends to join Bitget's Assist2Earn promotion.
Receive free Efinity Token airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to Efinity Token through Bitget Convert, Bitget Swap, or spot trading.

What is Efinity Token used for and how to use Efinity Token?

The use case of Efinity Token may expand as the crypto market and the project itself develop. Currently, you can use EFI to achieve the following goals:
Arbitrage by trading EFI: Since EFI is a frequently traded cryptocurrency, the price of EFI is always fluctuating. Earn more EFI by buying low and selling high on the exchange. Bitget spot market provides a variety of EFI trading pairs to fully meet your needs.
Earn by staking EFI: You can also generate income through financial management methods such as staking EFI or lending EFI. Bitget Earn offers a variety of financial products designed to help you earn more income from your EFI.
Send or pay EFI: If you want to give EFI to your friends, a charity, or a fundraiser, or you want to pay someone with EFI, you can quickly and easily send EFI to the recipient through their payment address.
You can also go to the official website of the Efinity Token project to learn more about the use cases of EFI. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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