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Enjin Coin achieved an 11.6% increase in the past 24 hours, leading the top 100 cryptocurrencies.
Enjin Coin price analysis
The coin’s weekly performance was also noteworthy, ranking as the second largest gainer during this timeframe, with a rise of 20.7%. ENJ was surpassed by Injective, which saw a growth of 23.7% over the last seven days.
Year-to-date, its movements have largely mirrored those of market leaders, and since January 1, ENJ has entered a robust uptrend that peaked at $0.5692 on February 23, representing a 134% increase.
The subsequent decline reached its lowest point approximately two and a half weeks later, finding support at $0.3340. Unfortunately, this was part of a wider trend that affected the overall market.
Since then, Enjin Coin’s recovery has been relatively subdued, reaching a high of $0.4510, which translates to a 35% rise. In comparison, after establishing support at $19,560, Bitcoin surged to $29,203, marking a 49% increase over three weeks.
Since March 28, ENJ has been on an upward trajectory on the daily chart. However, this movement was limited by a rise above the previous resistance level of $0.4510 today, with bulls approaching $0.50 to achieve a 40-day high.
This movement was accompanied by significant trading volume, reminiscent of the New Year surge. Likewise, the Relative Strength Index (RSI) indicates that the current momentum remains strong, with the indicator nearing overbought levels.
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Source: ENJUSDT on TradingView.com
New look platform
On April 4, Enjin Coin shared information about its forthcoming new platform User Interface (UI), including a preview of the modifications. The rationale behind the update is to streamline development on the chain, according to Enjin Coin.
Highlighted advantages include functionalities such as approving and freezing assets directly from the interface, all aimed at simplifying the tokenization process.
“With the new platform, you can easily create collections, tokens, and beams.
For any #gamedev out there, you will be able to approve, freeze, mutate, and destroy assets all from within an easy-to-use UI platform.”
Additionally, the project’s NFT.io marketplace is nearing a public launch. The latest development update outlined enhancements to the “Create Asset” page for improved usability and the introduction of verified user badges.
The update also noted the successful completion of beta testing for Beam, described as a “QR-powered blockchain asset distribution service.”
With Beam, developers can customize rewards and assets to better connect with their audience.
The post Enjin Coin outshines top 100 cryptocurrencies, posting 40 day highs appeared first on CryptoSlate.
