Non-fungible tokens (NFT) are fast becoming a focus of the cryptocurrency market. This is backed up by history that within minutes millions of dollars are being raised for unique token artwork and rare collectibles that traders can get their hands on quickly.
One project that has benefited greatly from the NFT’s revival is Enjin Coin (ENJ), which hit a new all-time high of $ 0.67 on February 25 after being listed on the Crypto.com exchange as well as starting a new all-time high. and perpetual futures trading on FTX.
Data from Cointelegraph Markets and TradingView show that ENJ rose 52% from a low of $ 0.438 on February 24 to a new high of $ 0.67 before falling to the current price of $ 0.611.
ENJ / USDT 4 hour chart. Source: TradingView
A scroll through the project’s Twitter feed reveals numerous recent partnerships and integrations that helped fuel Enjin’s price hike.
Minecraft is one of the most notable integrations for the Enjin ecosystem, and users can earn special NFTs that unlock secret games within the video game series.
The platform has also benefited from working with the growing ecosystem of the Binance Smart Chain (BSC), which has launched an NFT awareness campaign that Enjin will participate in.
VORTECS ™ data from Cointelegraph Markets Pro identified an optimistic outlook for ENJ on February 24, a few hours ahead of today’s price hike.
The VORTECS ™ score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points such as market sentiment, trading volume, recent price movements and Twitter activity.
VORTECS ™ Score (green) vs. ENJ price. Source: Cointelegraph Markets Pro
As can be seen from the graph above, VORTECS ™ for ENJ hit a high of 70 on February 24th, just before the price hit a new all-time high on February 25th.
The growing popularity of the NFT space as well as numerous well-known partnerships have positioned Enjin well over the current bull market cycle through 2021.
The recent integration with the BSC provides a way to avoid high fees on the Ethereum Network (ETH) and could bring a new wave of activity into the Enjin ecosystem.
