Coinbase has announced this week that ENJIN (ENJ), 1INCH, Origin Protocol (OGN), and Nkn (NKN) would be available for trading today.
According to the announcement:
“Once sufficient supply of 1INCH, ENJ, NKN, OGN is established 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 full trading,”
Before the listing, ENJ had been fairing noticeably well due to its focus on non-fungible tokens (NFTSs). The focus has bred the development of two solutions, including Efinity and JumpNET.
ENJ, ENJIN’s native token, started rallying before trading began and surged by over 30% on the announcement day. ENJ moved from $2.22 to $3.25 within 24 hours. The asset is currently trading at $3.63 and has increased up to 70% since the announcement.
ENJIN claimed last month that it had raised $18.6 million from investors led by CryptoCom. They raised this much by privately selling Efinity, an initiative supposed to launch in the coming months. Likewise, Enfinity launched the JumpNET upgrade recently. JumpNET is a layer-two scaling solution that will eliminate gas, and support NFTs on any blockchain.
The two major reasons traders are bullish about the ENJ token are ENJIN’s JumpNET and the Enfinity upgrade.
Image Credits: Pixabay
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