• Enjin Coin (ENJ) had gained 15.70% in the past 24 hours at press time.
• Enjin Coin is not known for colossal price movements, making today’s price surge a surprise for many crypto traders and investors.
• The recent development update to the Enjin ecosystem appears to have energized ENJ buyers as they anticipate the network to witness extensive growth in the coming months.
Today, the crypto market was taken by surprise as the price of Enjin Coin (ENJ) rose by 15.70%, making it the top gainer of the day. At press time, ENJ was trading at around $0.4265. This surge is even more remarkable considering that ENJ is not known for its large price swings, making today’s spike a real cause for celebration.
Enjin Coin is the cryptocurrency associated with the Enjin Network, a blockchain-based protocol that allows game developers to tokenize in-game items on the Ethereum blockchain. Since its inception, the Enjin platform has seen a steady growth in adoption among developers. This latest price surge appears to be a result of a recent development update to the platform, which has excited buyers who are now expecting the Enjin ecosystem to see extensive growth in the coming months.
The update appears to have been well-received by the market, as evidenced by the ENJ token’s impressive 51% growth over the past seven days. This price surge has also pushed Enjin Coin ahead of its closest competitors, with the second largest gainer today being KAVA, up 10.14%, and the third being Hedera (HBAR), up 9.50%.
It’s clear that the market is excited about the potential of the Enjin platform, and this latest price surge is a testament to that. With more updates expected in the near future, it’s likely that the price of ENJ will continue to climb in the coming months.