The price of Enjin, the native token of the blockchain gaming and NFT-focused project, has surged by more than 30% in the last 24 hours.
There are three major factors behind ENJ’s strong short-term uptrend, namely the Coinbase listing, technical momentum and the interest around JumpNet.
ENJ price chart since December 2020. Source: TradingView.comCoinbase listing intensifies interest in Enji
The price of ENJ has been on a gradual uptrend throughout the past month ever since the project announced the release of Efinity and JumpNet.
ENJ started to see a large rally when Coinbase, the top U.S. exchange, announced it will allow users to trade ENJ, an event that was highlighted in Cointelegraph Markets Pro on Wednesday.
VORTECS™ score (green) vs. ENJ price (white). Source: Cointelegraph Markets Pro
Additionally, the VORTECS™ score, exclusive to Cointelegraph, flipped green prior to the rally, as seen in the chart above. The VORTECS™ score is an algorithmic comparison of historic and current market conditions derived from a combination of data points