ENJIN Coin (ENJ) Rate Soars 70% Following Coinbase Pro Listing
As the crypto market slowly recuperates from Wednesday’s dip, ENJIN Coin (ENJ) got a significant boost in price following its listing on Coinbase Pro, the professional trading platform of the U.S.-based exchange, Coinbase.
Coinbase Notes ENJ and Three Others
The San Francisco-based exchange kept in mind in an statement this week that ENJ alongside 1INCH, OGN, and NKN will be offered for trade today by 4 PM UTC if liquidity conditions are met.
” As soon as sufficient 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 three phases, post-only, limit-only and complete trading,” excerpts of the statement checks out.
While trading of the chosen tokens will begin later today on Coinbase Pro, deposits of the assets are open to users in all Coinbase supported jurisdictions other than New york city.
ENJ Soars 70%
Enjin’s native token ENJ did not await trading to start before rallying. On the day of the announcement, ENJ surged 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 actually been up almost 70% given that the statement. With trading set to begin in a couple of hours, ENJ might be headed for a new all-time high (ATH) of $4 per coin.
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NFT-focused Job Prior to the Coinbase listing, ENJ has been on an amazing run in recent months. This is largely due to the job’s focus on non-fungible tokens (NFTs), which has caused the advancement of 2 major services: Efinity and JumpNET.
Last month, Enjin stated it had raised $18.6 million from financiers led by CryptoCom via the personal 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 video gaming, apps, creators, and business NFT blockchain solely enhanced for non-fungible tokens.
Additionally, Enjin just recently launched the JumpNET upgrade, a layer-two scaling solution for the project, which will get rid of gas and assistance NFTs from any blockchain.
Enjin’s JumpNET and the upcoming Efinity upgrade is among the major reasons traders are bullish about the ENJ coin offered the substantial hype around NFTs.
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Published at Fri, 09 Apr 2021 15:53:54 +0000