Enjin Coin(ENJ) Price Poised to Hit $1 Following Coincheck Listing

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.

Miners Garden
Miners Garden

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. 

ENJ chart

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.

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