In very short terms, it's like the "privacy-focused" version of Ethereum . Monero:Bitcoin as Enigma:Ethereum
I got in at .0028 ENGETH . A small but significant position. Currently a long term hold as I am comfortably up from entry. On my exchange it's only been available since Oct. With such a new coin, it's hard to know overbought or not. These can simply explode if it catches the hype train.