The price of Enjin, the native token of the blockchain gaming and non-fungible token-centric project, or NFT, has risen more than 30% in the last 24 hours.
There are three main factors behind ENJ’s strong short-term uptrend: the Coinbase listing, technical momentum, and interest around JumpNet.
Launch on Coinbase Heightens Interest in Enji
ENJ’s price has been on a gradual upward trend over the past month since the project announced the launch of Efinity and JumpNet.
Additionally, the Cointelegraph exclusive VORTECS ™ score turned green prior to the rally, as seen in the graph above. The VORTECS ™ score is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements, and Twitter activity.
“From now on, we will start accepting incoming transfers from 1INCH, ENJ, NKN, OGN to Coinbase Pro. Trading operations will begin at 9AM Pacific Time (PT) on Friday, April 9, if conditions are met. of liquidity. “
Launching on Coinbase generally serves as an important catalyst for altcoins, because it introduces the asset to the United States retail market.
JumpNet and Efinity launch is crucial
Enjin will also launch two crucial products in the coming months: Efinity and JumpNet.