metaENGINE, a first-of-its-kind blockchain gaming infrastructure platform, today announced the completion of a $4 million seed funding. The seed ound was co-led by Lemniscap and Jump Crypto with participation from Polygon Studios, Blockwall, blufolio, Insignius Capital, Future Fund, CoinDCX Ventures, Efficient Frontier, Maelstrom, and other leading VC funds and prominent angels. The $4 million in […]

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Metaverse dominates the year 2022. Craze epicly on rise for acquiring virtual lands on Metaverse platforms .  Virtual lands value

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Analytics firm Santiment is taking stock of the crypto markets as the world reacts to Russia’s ongoing war with Ukraine. In a new Insights blog post, the firm provides data that tracks the buying and selling action of more than 50 digital assets. Among the most accumulated altcoins were gaming tokens Enjin Coin (ENJ) and […]

The post Crypto Whales Take Advantage of Dip, Swoop In on Ethereum (ETH) and Four Altcoins: Analytics Firm Santiment appeared first on The Daily Hodl.

Rakuten launched NFT market to capitalize on the growing adoption in Japan after the surge of NFT sales in 2021 as we can see more in today’s latest cryptocurrency news. Major Japanese e-commerce company Rakuten launched NFT market to capitalize on the growing adoption in Japan. The company initially revealed plans to launch a proprietary […]

Data from Newzoo reveals that Esports and the Play-to-Earn model will drive blockchain gaming industry to mass adoption this year. Earlier this year, world’s provider of games and esports analytics Newzoo released a report to provide insights and predictions into the gaming industry in 2022. Esports Teams To Adopt Blockchain According to Newzoo, the Play-to-Earn [...]

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PRESS RELEASE. LONDON, February 15, 2022 – Independent video game studio and publisher Utopian Game Labs, has teamed up with alphabit fund, the crypto asset fund advancing the overall development of the sector by investing in the world’s most innovative blockchain projects, to bring you Time Raiders, a fast-paced shoot and loot NFT game in…

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The ENJ coin price breaks below the $2 mark indicating a potential bearish reversal with increased trend momentum. Will the downfall reach $1.5? Enjin is a program that lets developers to manage and create virtual goods and services on Ethereum blockchain. In pursuit of this, it has released software development kits that allow users to create digital assets using Ethereum and incorporate these into games and apps. ENJ allows developers to create objects for games via the Enjin platform. Let us move ahead to read about Enjin technical analysis. Past Performance of ENJ ENJ token price fails to overcome the selling pressure of the 200-day EMA at $2.15, resulting in a downfall of more than 15% in the past 48 hours. Moreover, the death cross increases the selling pressure. Therefore, the free fall may soon test the horizontal level at $1.5. ENJ/USD Daily Chart ENJ Technical Analysis The ENJ coin price shows an increased selling pressure as the price breaks below the $2 mark. Hence, with the sellers gaining trend control, traders can find selling opportunities shortly. The Vortex indicator shows a potential trend reversal with the free fall in the ENJ coin prices as the VI lines approach each other to give a bearish crossover. Hence, the indicator indicates a downfall to the $1.5 mark. The RSI indicator shows a rise in the underlying selling pressure as the price falls 10% in the past 24 hours. Moreover, the slope crosses below the 14-day SMA and the 50% mark indicating a bearish continuation.  The Exponential Moving Average shows a death cross in the daily chart idnicating a rise in bearish powers. Moreover, the falling 100-day EMA may shortly give a crossover with the 200-day average.  In short, the increasing selling pressure overtakes the trend control and indicates high likelihood of bearish continuation in ENJ coin price. Upcoming Trend The ENJ coin price breaks below the $2 mark as the sellers regain momentum with the recent death cross. Therefore, the upcoming trend seems to be incredibly bearish.  Traders can find selling opportunities at current prices with a target of $1.50 and a stop loss above the $2 mark.

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The global crypto market’s diverse sectors such as NFTs and metaverse have been gathering prominence irrespective of the price trajectories. To a degree that, inhabitants from the crypto town have been learning the diversity of the business. As projects from the world of metaverse have engraved astounding metrics for the bygone year.  Successively “Decentraland”, metaverse’s …

The host of popular crypto analysis and market commentary show Coin Bureau has issued a long-term outlook for the gaming altcoin Enjin Coin ($ENJ), which serves as a “utility token” for non-fungible tokens (NFTs). In a guide published in May 2020, Binance Research referred to Enjin Coin as “a product ecosystem for blockchain gaming.” It […]

The ENJ coin price breaks above the long-coming falling wedge pattern resulting in an overnight trend reversal, aiming to break above the $2 mark. Co-founder of Enjin, Witek Radomski authored the code to create one of the very first Non-fungible Tokens (NFTs) in the world. He is the co-author of the ERC-1155 Ethereum token standard. Based on an on-chain platform and a blockchain infrastructure, the Enjin ecosystem allows businesses and game developers regardless of size to make use of tokenized digital assets in the course of their engagement, acquisition, retention, and strategies for monetization. The Enjin ecosystem is powered through Enjin Coin, an e-currency used to support the worth of blockchain-based assets. Let us move ahead to read about ENJ technical analysis. Past Performance of ENJ The ENJ coin price action makes a follow-through candle of the morning star pattern made slightly below the resistance trendline of the falling wedge. The morning star and the follow-through candles result in a price jump of over 15%. Thus, resulting in the breakout of the falling wedge pattern in the daily chart.  ENJ/USD Daily Chart ENJ Technical Analysis The ENJ coin price action breaks above the long-coming falling channel pattern in the daily chart. Therefore, traders can expect the post-breakout rally to break above the $2 psychological mark. The crucial Exponential Moving Averages (50 and 200-day) showcase a death cross in the daily chart as the EMAs maintain a falling trend. However, the price jump may shortly reverse the trend in EMAs.  The RSI indicator indicates that the slope is increasing over that 14 day-SMA as well as the centerline of the daily chart. The increase is after the bullish divergence that is seen within the band. So, a continuation in the bullish direction could be likely. The Stochastic RSI indicator shows the K and D line undermining the previous bearish crossover as the K line gives a bullish crossover with the D line. The lines remain in the overbought zone reflecting a boom in underlying bullishness.  In a nutshell, the technical indicators represent the bulls taking over the ENJ price trend with the falling wedge breakout. Therefore, traders can expect a pst-retest rally. Upcoming Trend The ENJ technical analysis shows the coin price action demonstrating a bullish breakout of the falling wedge pattern in the daily chart. However, the price is yet to retest the breakout, that is why a reversal in the upcoming days is possible.  Buyers at the current price can expect a target above the $2 mark, close to the $2.15 horizontal level. However, the bearish influence by the death cross can result in a retest prior to the bullish rally.

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The ENJ coin price action reverses within the falling wedge with the formation of an evening star pattern. Will the reversal result in a bearish fallout? The Enjin blockchain ecosystem is designed to provide software that enables anyone to build and trade, monetize and sell using blockchain. Established in 2009, Enjin is a part of the gaming industry; its first product- a gaming community platform dubbed the Enjin Network that grew into 20 million customers in the span of more than a decade. Co-founder of Enjin, Witek Radomski wrote the source code that created one of the very first Non-Fungible Tokens (NFTs) in the world. He is the co-author of the ERC-1155 Ethereum token standard. Let us move ahead to read about ENJ technical analysis. Past Performance of ENJ The ENJ coin price fell by almost 10% in the past 24 hours reflecting a retracement within the falling wedge pattern in the daily chart. The retracement comes with an evening star pattern near the resistance trendline. The price retraces to the $1.5 support level, that may push the price higher to avoid the lower low formation.  ENJ/USD Daily Chart ENJ Technical Analysis The ENJ coin price continues to make lower high formation within the falling wedge pattern reflecting trapped bullish momentum. Therefore, the breakout of the resistance trendline may result in a dramatic bullish recovery and reach greater heights.  The crucial Exponential Moving averages showcase a death cross, a bearish crossover between 50 and 200-day EMA in the daily chart. Hence, the EMAs reflect a rise in bearish attention for the coin. The RSI indicator shows the slope failing to rise above the central line in the daily chart. The slope retraces to the 14-day SMA and can shortly give a bearish crossover reflecting a bearish takeover.  The Stochastic RSI indicator shows a bearish crossover of K and D line in the overbought zone reflecting the end of a bullish cycle. Hence, the indicator suggests a possible retracement in the ENJ coin price. In a nutshell, the technical indicators showcase the failure of bulls to sustain the trend resulting in a bearish takeover. The takeover can drive the prices lower to $1.5. Upcoming Trend The upcoming trend in the ENJ coin price has a bearish influence but the trend may struggle to sustain as the price action bottles up within the wedge. Hence, a reversal from $1.5 is possible. The reversal from $1.5 can find resistance near the resistance trendline and the $2 psychological mark. In the case of a $1.5 fallout, the support trendline and the $1.15 support level can reverse the falling prices. 

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Metaverse and blockchain gaming tokens are starting to come out of the crypto winter.…

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