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Change listings and NFT increase again Enjin’s (ENJ) 52% rally to a brand new excessive

02/26/2021

The rising reputation of NFTs and up to date alternate listings helped carry Enjin Coin to a brand new all-time excessive.

Non-fungible tokens (NFT) are quickly turning into a focus of the cryptocurrency market as evidenced by tales of hundreds of thousands of {dollars} being raised in minutes for one-of-a-kind tokenized artwork items and uncommon collectibles that merchants rush to get their fingers on. 

One venture that has been benefiting drastically from the resurgence of NFTs is Enjin Coin (ENJ), which broke out to a brand new all-time excessive of $0.67 on Feb. 25 following its itemizing on the Crypto.com alternate in addition to the launch of spot and perpetual futures buying and selling on FTX.

Knowledge from Cointelegraph Markets and TradingView reveals that ENJ rose 52% from a low of $0.438 on Feb. 24 to a brand new excessive of $0.67 earlier than experiencing a pullback to its present worth of $0.611.

ENJ/USDT 4-hour chart. Supply: TradingView

A scroll via the venture’s Twitter feed particulars quite a few latest partnerships and integrations which have helped gas Enjin’s worth rise.

Minecraft is among the most notable integrations for the Enjin ecosystem and customers are in a position to earn particular NFTs that unlock secret video games contained in the online game sequence.

The platform has additionally benefited from becoming a member of forces with the rising ecosystem of the Binance Good Chain (BSC), which has launched an NFT instructional marketing campaign that Enjin will probably be a part of.

VORTECS™ knowledge from Cointelegraph Markets Professional started to detect a bullish outlook for ENJ on Feb. 24, a number of hours earlier than right this moment’s worth rise.

The VORTECS™ rating, unique to Cointelegraph, is an algorithmic comparability of the historic and present market circumstances derived from a mixture of information factors together with market sentiment, buying and selling quantity, latest worth actions and Twitter exercise.

VORTECS™ Rating (inexperienced) vs. ENJ worth. Supply: Cointelegraph Markets Professional

As seen on the chart above, the VORTECS™ rating for ENJ reached a excessive of 70 on Feb. 24, shortly earlier than the worth started to spike to a brand new all-time excessive on Feb. 25.

The rising reputation of the NFT area, together with quite a few big-name partnerships has Enjin well-positioned as the present bull market cycle progresses into 2021.

Its latest integration with the BSC supplies a method to escape excessive charges on the Ethereum (ETH) community and will convey a brand new wave of exercise to the Enjin ecosystem.