Ever since the cryptocurrency industry was brought into being, one of the most essential and widely adopted products introduced in the crypto-verse was NFT. Although the non-fungible token (NFT) industry had been around since 2017, it wasn’t until 2020 when it first started picking up on its adoption.
From that point onwards, the NFT industry has not looked back and it is constantly experiencing all-time highs with respect to adoption and transaction volume.
Since the beginning of the year 2020, the NFT industry has become one of the centers of attention for the cryptocurrency industry. The evidence of the growth and mass adoption of the NFT product is the number of transactions the industry is producing on a daily basis.
It has been reported that the NFT industry is observing around $80 million worth of sales on a daily basis. The industry is well-known for producing an enormous amount of sales from digital artwork sales, fan-based token sales, and rare collectible digital item sales.
Over the course of time, the industry has gained so much recognition that investors and collectors from all over the world have started joining the platform in the masses.
People are now spending enormous sums of money resulting in millions worth of transactions on a daily basis. With time, the industry is constantly gaining more users, adoption, and more transaction volumes.
Although the entire industry is gaining a lot of success and adoption, there is one particular project known as Enjin Coin (ENJ) that is experiencing a huge rally. Although the Enjin Coin (ENJ) project has been around for some time, it has gained huge adoption because of its recent resurgence through NFTs.
As a result of the recent integration, the platform has managed to hit an all-time high and as of February 25, 2021, the price of its token is at $0.67, which is the all-time high.
Another factor that has led to the spike in the price of the asset is getting listed on one of the prominent crypto-exchanges known as Crypto.com. Moreover, Enjin Con (ENJ) also managed to launch the perpetual and spot futures trading through FTX.
The information around the gains in the price of the ENJ was also shared by a couple of on-chain data analyzing firms. The data-analyzing firms, TradingView and Cointelegraph Markets have shown how much increase the token has gained.
The price of the token has gained 52% rallying in a matter of 24 hours before pulling back to a stable price. On February 24, 2021, it was reported that the price of tokens was $0.438 and by the end of February 25, 2021, its prices were at $0.67. The firm has revealed that this is the all-time high that the platform has managed to gain ever since its initial launch.