ENJ Price Attempting to Break $0.45 Resistance
The Enjin platform announced the previous working day that the native coin, ENJ, has been approved by JVCEA. Moreover, the coin will be listed on Coincheck, a cryptocurrency exchange located in Tokyo. With this Enjin Coin will be the first authorized gaming token for use in Japan.
As the announcement rolled out, the platform witnessed a huge spike in the trading volume which surged from nearly $275 million to more than $1 billion. Hence, rallying the price of nearly 100% within hours.
The ENJ price at the time of writing is $0.4128 with a jump of 35.10 percent in the past 24 hours. However, the price had rallied more than $0.44 close to its ATH at $0.49 but woefully entered a correction phase.
With the Bitcoin price trending sideways and the Ethereum price too following a similar pattern, other altcoins are expected to flourish. Amid the uptrend of various other crypto assets, ENJ coin price is expected to hit $2 very soon.
Will the Market Cap of NFT Hit $1 Billion?
With the massive rally, ENJ coin has currently topped the list of non-fungible tokens(NFT) with respect to the market capitalization. As the global market capitalization of the crypto space has surpassed $1 trillion, now it’s the time for the NFT to hit $1 billion.
However, the trading volume of the NFT’s has crossed $1 billion to record $1,165,654,899, and hence, $1 billion market capitalization may be imminent. The current market cap of NFT’s is $962,420,838 at the time of writing.
Major cryptocurrency in 2021 like Bitcoin and Ethereum, however, rallied high and trending in a narrow range. In the meantime, other altcoins and DeFi tokens experience an uptrend. As the other crypto assets marked their uptrend, a very huge altcoin season is expected to initiate in 2021.