Highlights
- Traders from the crypto space, incline more towards newer coins over impressive gains in the revolutionary sector.
- Enjin Coin and Decentraland witness an uptick in interest from enthusiasts.
The crypto street is accelerating at a faster pace, as the industry forays into emerging spaces. Like De-Fi, NFTs, Gaming, and Metaverse. The youth and millennials have always been inclined towards digital art, gaming, and the metaverse. Which is fueling the rise of these sectors to a greater extent.
Consecutively, traders and investors are keen on getting a share of the revolutionary tech. This is resulting in digital assets from the space, growing in popularity and valuation. Enjin coin and Decentraland are one of the cryptos which are raising the bars.
Enjin Coin (ENJ):
Enjin is the largest online gaming community platform, Enjin Coin is an ERC-20 token built on the Ethereum network. It is one of the first projects testing the Raiden Network, which is Ethereum’s version of the lightning network. The platform is rising at a steady pace in the world of NFTs.
ENJ at press time is trading at $3.162 with gains of over 6%. The market cap of the digital asset is hovering around $2,980,842,214. While the trade volumes for 24-hours are around $5,38,573,512. The digital coin is trading along the range of $2.85 and $3.19.
The digital asset has been moving along the symmetrical triangle, after hitting the monthly highs. ENJ has attempted a breakout from the triangle. Upward momentum will take the price to levels around $3.5, but a slight consolidation could follow along the path. The next target thereafter will be at levels around $4.
Decentraland (MANA):
Decentraland, the platform catering to the virtual world is powered by the Ethereum blockchain. In the virtual world, users can buy land, build it, monetize, and get into applications built by other users. MANA is an ERC-20 token, which is used to make transactions in Decentraland.
The digital asset at press time is trading at $3.6736, with a market cap of around $5,005,342,585. While the trading volume for a day and night is around $3,301,656,436, The crypto has been trading in the range of $3.16 and $3.83 for the last 24-hours. It has been close to 3-weeks since it hit its ATH of $4.11.
The digital coin has been following a sideways trend for the past couple of days. It is currently moving along an ascending triangle. The altcoin might fall around the support levels, prior to a breakout from the barriers, towards its target of $4.9. We can expect some corrections on the way. On the flip side, it might fall to its support levels around $3.
We can expect growing impetus in the aforementioned digital assets in the near future. The platforms hold immense potential to raise the bars. Owing to the booming space to which these cater. Hopefully, the digital coins will rise above their ATH’s in the bull run, which seems to be around the block.
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