The cryptocurrency market still has significant funds seeking returns. With the rise in DeFi and more projects generating value in their economies, some altcoins are taking off. Usually, it is the coins and tokens behind projects with a growing internal economy and outreach to real users. <\/p>\n\n\n\n
Altcoins moved positively while Bitcoin (BTC) continued to retreat <\/a>and briefly dipped under $57,000. BTC retreated to $56,624.77, remaining relatively volatile in the short term.<\/p>\n\n\n\n Enjin Coin (ENJ) marked a series of all-time highs on Wednesday, reaching above $4.10 after repeating its previous peak from May. This relatively volatile asset belongs to one of the rapidly developing projects, which has gained attention both for reaching its milestones, and for sudden speculative activity. <\/p>\n\n\n\n ENJ trading volumes are just under $1B and remain relatively uneven over the course of days. One of the reasons is ENJ is still relatively less popular compared to the most actively traded altcoins and tokens on the Binance exchange<\/a>.\u00a0<\/p>\n\n\n\n One of the factors behind the rising interest in EJN is the planned creation of the Efinity ecosystem. Efinity will be a new scalable blockchain for NFTs, which will use the Polkadot protocol, another Ethereum scaling solution.<\/p>\n\n\n\n Efinity will compete in auction to become one of the parachains in the free Polkadot slots. With limited space for parallel computation, the new blockchain may land a valuable spot in the industry. <\/p>\n\n\n\nEfinity Blockchain Boosts<\/strong> ENJ Visibility<\/strong><\/h3>\n\n\n\n