June 24, 2021

ENJIN Coin (ENJ) Price Soars 70% Following Coinbase Pro Listing

2 min read

As the crypto market slowly recuperates from Wednesday’s dip, ENJIN Coin (ENJ) received a significant increase in price following its listing on Coinbase Pro, the professional trading platform of the U.S.-based exchange, Coinbase.

Coinbase Lists ENJ and Three Others

The San Francisco-based exchange kept in mind in an announcement today that ENJ together with 1INCH, OGN, and NKN will be offered for trade today by 4 PM UTC if liquidity conditions are satisfied.

“Once adequate supply of 1INCH, ENJ, NKN, OGN is developed on the platform, trading on our 1INCH-USD, 1INCH-BTC, 1INCH-EUR, 1INCH-GBP, ENJ-USD, ENJ-BTC, NKN-USD, NKN-BTC, OGN-USD and OGN-BTC order books will launch in 3 stages, post-only, limit-only and complete trading,” excerpts of the announcement reads.

While trading of the selected tokens will begin later today on Coinbase Pro, deposits of the assets are open to users in all Coinbase supported jurisdictions except New York.

ENJ Soars 70%

Enjin’s native token ENJ did not await trading to begin before rallying. On the day of the announcement, ENJ rose by more than 30%, moving from $2.22 to $3.25 within 24 hours.

At the time of composing, the cryptocurrency is hanging hands at $3.74 and has been up almost 70% because the statement. With trading set to begin in a few hours, ENJ might be headed for a brand-new all-time high (ATH) of $4 per coin.

enj_chart

ENJ/USDT. Source: TradingView Enjin: A Blockchain Gaming and NFT-focused Project Prior to the Coinbase listing, ENJ has been on a remarkable run in recent months. This is largely due to the project’s focus on non-fungible tokens (NFTs), which has actually led to the advancement of two major services: Efinity and JumpNET.

Last month, Enjin said it had raised $18.6 million from investors led by CryptoCom by means of the private sale of Efinity, an initiative scheduled for launch in the coming months.

Efinity is developed on the Polkadot blockchain and will be the next generation gaming, apps, creators, and business NFT blockchain solely optimized for non-fungible tokens.

Moreover, Enjin just recently launched the JumpNET upgrade, a layer-two scaling option for the task, which will eliminate gas and assistance NFTs from any blockchain.

Enjin’s JumpNET and the upcoming Efinity upgrade is one of the significant factors traders are bullish about the ENJ coin given the substantial hype around NFTs.