• Enjin Coin (ENJ) has gained 15.70% in the past 24 hours and is currently trading at about $0.4265.
• ENJ is today’s top gainer in the crypto market and has made headlines due to its 16% surge.
• The recent development update to the Enjin platform is believed to be the cause of today’s price surge.
Enjin Coin (ENJ) is making headlines today after it shot up by an impressive 16 percent, making it the best crypto gainer of the day according to data from CoinMarketCap. At press time, the token was trading at about $0.4265, representing a 15.70 percent increase in the past 24 hours. The second largest gainer today is KAVA which has gained 10.14% while the third is Hedera (HBAR) which has gained 9.50%, adding to its 41% rise in the past two weeks.
The recent surge in Enjin Coin’s price has pushed the token for a 51% growth over the past seven days, a feat that is rarely seen in the crypto space. This huge price increase has been a surprise for many crypto traders and investors, so what is the cause of this sudden price surge?
Enjin Coin is powered by the Enjin Network, a blockchain-based platform that allows game developers to tokenize in-game items on the Ethereum blockchain. While the protocol’s influence among developers has been growing since its inception, the recent development update to the platform appears to have energized ENJ buyers as they anticipate the Enjin ecosystem to witness extensive growth in the coming months.
The development update includes the launch of Enjin Beam, a new feature that allows users to claim, store, and transfer virtual items using QR codes. In addition, the update brings several improvements to the platform, such as a new virtual item store, a new smart contract system, and an improved user interface.
The recent development update to the Enjin platform is believed to be the cause of today’s price surge. With its innovative features, Enjin Network provides developers with an easy-to-use platform for creating tokenized game assets and allows players to own and trade virtual items in a secure and decentralized manner.
The surge in price also coincides with a bullish market sentiment that is driving the entire crypto market higher. With more and more institutions and investors entering the crypto space, the demand for digital assets is increasing and this is likely to bode well for Enjin Coin in the coming weeks.
All in all, the recent development update to the Enjin Network has energized the ENJ market and the token’s price is expected to continue rising in the near future. With its innovative features, Enjin Network provides developers with an easy-to-use platform for creating tokenized game assets and allows players to own and trade virtual items in a secure and decentralized manner. This could be the beginning of an exciting new era for the Enjin Network, and we can’t wait to see what the future holds for the platform.
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