While the recession continues in the crypto markets, an altcoin has come to the fore today. ENJ, the coin that gained the most value in the last 24 hours among the top 100 cryptocurrencies, rose to $ 0.49. Moreover, Enjin Coin (ENJ) had not seen these levels since February 25.
Gaming company Enjin’s native cryptocurrency ENJ is trading at $0.47, up 13% at press time. Enjin has gained 95.91% so far this year.
Along with the price increase, altcoin trading volume has also seen a huge increase, increasing by about 779% at press time. Transaction volume refers to the total volume of coins exchanged between buyers and sellers. Volume, because it shows both buy and sell side transactions, so it’s hard to draw a clear conclusion. On the other hand, given the sudden increase in price, it can be said that traders are taking action to make a profit.
Current Developments
The reasons behind this remarkable rise are also curious. At the beginning of April, Enjin announced via its official Twitter account that some very exciting things are coming up. The new Enjin platform, which allows users to easily create collections and tokens, stands out. Likewise, game developers will be able to approve, freeze, modify and destroy assets via the new UI platform.
The project is also the upcoming marketplace nft.io excited for you too. The developers are currently showcasing their features and getting feedback from the community. The upcoming market will include all the core functionality available in any NFT-related market and the ability to work with Efinity in the future.
Additionally, in March, the team announced updates for the Enjin wallet app, the NFT mobile app that allows users to store, send and sell NFTs.
What is ENJ?
Enjin Coin (ENJ) is used on the Enjin platform. Enjin is a blockchain platform for the gaming industry. ENJ is a tool that allows game developers to offer players in-game items and rewards and to trade these items for real money.
ENJ, unlike other cryptocurrencies in the gaming industry, is designed for standardization and monitoring of in-game items stored on the blockchain. In this way, players can store items from different games on a single wallet.
ENJ is also used on the Enjin Marketplace, a marketplace that allows players to trade their in-game items in the real world.
You can follow the current price action here.