Enjin Coin (ENJ) Surges 15.70%, Becomes Today’s Top Crypto Gainer
• Enjin Coin (ENJ) has gained 15.70% in the past 24 hours making it today’s top gainer in the crypto market.
• The price surge makes ENJ the best crypto gainer of the day according to data from CoinMarketCap.
• The price hike is largely attributed to the recent development update to its parent blockchain, Enjin Network, which allows game developers to tokenize in-game items on the Ethereum blockchain.
Today, the crypto market was abuzz with news of the remarkable price surge of Enjin Coin (ENJ). At press time, ENJ had gained an impressive 15.70% in the past 24 hours and was trading at about $0.4265. Data from CoinMarketCap revealed that ENJ had become today’s top gainer, with KAVA coming in second at 10.14% and Hedera (HBAR) in third at 9.50%.
The early hours of the day saw ENJ reach a daily high of $0.4524, a figure that bettered its already impressive 51% growth over the past seven days. Naturally, this sudden price surge came as a surprise to many traders and investors in the crypto space, as ENJ is not typically known for such massive spikes.
So what is behind the rise of ENJ? The answer lies in its parent blockchain, Enjin Network. This protocol allows game developers to tokenize in-game items on the Ethereum blockchain, and its influence among developers has been steadily growing since its inception. However, it was the recent development update to the platform that appears to have energized ENJ buyers, as they anticipate the Enjin ecosystem to witness extensive growth in the coming months.
The development update includes new features such as the Enjin Platform, which will enable developers to create Ethereum-based tokens in a matter of minutes, as well as the EnjinX blockchain explorer, which will enable real-time tracking of assets and transactions. In addition, the update also included the launch of Enjin Smart Wallets, which are designed to provide users with a secure and user-friendly way to store their digital assets.
All these developments have undoubtedly contributed to the positive sentiment surrounding Enjin Coin today, and it is likely that the token will continue to enjoy a bullish trend in the days to come. With the platform boasting an ever-growing user base, it is certain that ENJ is set to become a major player in the crypto space in the near future.