NOIDA (CoinChapter.com) — Enjin Coin (ENJ) price surged by 69.7% on Apr. 21, 2025, trading near $0.1088 after touching intraday highs above $0.11. The rally came with a staggering 2,400% jump in 24-hour trading volume, topping $421 million and pushing Enjin’s market cap above $200 million.
The move followed a wave of announcements highlighting new ecosystem features, particularly the rollout of Substreak. The spike caught market participants off guard, as broader crypto sentiment remained mixed. Bitcoin traded near $66,000, still recovering from last week’s tariff-driven plunge.
Ethereum hovered around $3,300, while most altcoins saw only modest gains. ENJ’s outsized move, therefore, stood out as a sector-specific response to a concrete utility upgrade rather than a broad market rebound.
ENJ prices rallied 98% since April 18 to climb a daily high near $0.119 on April 21, before retreating. Enjin Coin’s sharp rally brought it face-to-face with a key resistance zone, near $0.1. Flipping the immediate resistance would help ENJ price target the 100-day EMA (blue) resistance near $0.112, as indicated by the Volume Profile Visible Range (VRVP).
ENJ trades above the 0.382 and 0.5 Fib retracement levels, showing short-term strength. However, bulls must push through the VRVP’s thick sell zone, which historically coincides with long-term distribution ranges. Without sustained demand, this cluster could trigger a local top.
On the downside, ENJ has initial support near $0.085. Losing this level could trigger a retest of the $0.075 zone, which aligns with the 0.236 Fib and previous accumulation levels.
The Relative Strength Index (RSI) reads 66, nearing overbought territory. While not signaling an immediate reversal, the momentum suggests that upside may be limited without consolidation or a new catalyst.
Telegram Integration Puts Enjin in Front of 1 Billion Users
Enjin’s introduction of Substreak, a Telegram-native integration, marks one of the platform’s most significant accessibility upgrades. The feature allows Telegram’s 1 billion users to interact with Enjin’s blockchain directly through chat commands—no third-party wallet or browser extension required.
Users can send ENJ tokens and Enjin-powered NFTs with commands such as ‘/start’ or ‘/nft,’ drastically lowering the entry barrier for casual users unfamiliar with traditional crypto wallets.
The Substreak integration went live, focusing on “zero wallets, zero friction,” as Enjin’s official X post stated. Enjin described the bot as a way to “unlock true utility” instantly, promising blockchain interactions at the speed of conversation.
The move comes when user experience and accessibility remain key hurdles for mainstream crypto adoption. By embedding core functions into a widely used messaging app, Enjin bypasses onboarding friction and captures an active and mobile-centric user base.
Trading activity exploded after the announcement. ENJ’s 24-hour volume surged more than 2,400%, reflecting both retail enthusiasm and speculative momentum. Social media posts from users showcased screenshots of NFT transactions occurring within Telegram itself. These real-time proofs of utility fueled excitement across NFT communities, particularly in Asia, where Telegram adoption is widespread.
Unlike marketing-heavy campaigns that promise future utility, Substreak is live and functional. Its immediate usability distinguishes it from other crypto projects that rely on roadmap hype. The market viewed this as a turning point, sending ENJ sharply higher while most altcoins lagged.
NFT Expansion Adds Utility, Not Just Hype
Alongside its Telegram rollout, Enjin upgraded its NFT utility through Substreak, allowing users to manage and send Enjin-powered NFTs directly within Telegram chats. With a single command, such as ‘/nft,’ users can view, transfer, or interact with NFTs, bypassing separate wallets or platforms. This functionality builds on Enjin’s broader vision to streamline digital asset ownership, especially in gaming and collectible ecosystems.
The feature ties in closely with Enjin’s ongoing Snap Challenge, a gamified campaign that started on April 15 and will run until May 15, 2025. The challenge is hosted on NFT.io and rewards user interaction with Enjin’s NFT marketplace.
Participants can earn exclusive NFTs infused with ENJ tokens by completing in-app tasks, which encourage engagement and asset movement. The NFTs distributed, including those from the Degens series, carry social and functional value, making them appealing to Enjin’s core user base of over 18 million gamers.
What sets this rollout apart is that it doesn’t simply announce a future roadmap—it delivers a working product with real-time applications. NFT transactions are processed via Enjin’s Relaychain and Matrixchain, which are now integrated into Substreak for smooth on-chain execution. These chains allow for quick minting, transfer, and validation without requiring users to understand complex gas fee structures or wallet keys.
This enhanced functionality also broadens Enjin’s reach into less technical audiences. Telegram’s UI becomes a portal for simplified NFT engagement, expanding the user base from crypto-native circles to general tech-savvy consumers. As this wave of usability reaches broader communities, ENJ has gained a clear edge over competitors still stuck in beta or development phases.
Technical Upgrades Underpin Enjin’s Long-Term Momentum
While the Telegram integration drew headlines, Enjin’s underlying infrastructure upgrades played a quieter but equally important role in the ENJ price surge. The current version of Substreak (v0.9.6) operates atop a robust backend built on Enjin’s Relaychain and Matrixchain networks, connected through Polkadot. These blockchains support multi-chain execution, real-time asset validation, and seamless cross-chain transfers, all without traditional bottlenecks like high fees or network congestion.
The system’s efficiency improved further following the “Bugis” upgrade, which went live in March 2025. The update reduced Matrixchain’s block time from 12 seconds to 6 seconds, doubling transaction throughput.
It also introduced modular royalty features, allowing multiple beneficiaries to share revenue from NFT sales—a critical feature for gaming studios and creators. Marketplace tools were also updated with lazy migration, a functionality that automatically adapts older assets to current protocols without user intervention.
Substreak also showcases Enjin’s commitment to developer accessibility. It offers structured data access for asset queries, wallet tracking, and on-chain analytics through built-in APIs and an Explorer interface. This caters to a growing base of third-party apps and games seeking real-time blockchain integration.
On the staking side, roughly 42% of ENJ’s effective circulating supply remains locked in validator pools. Governance participation is facilitated through unique Degens NFTs, which act as keys to nomination pools. This dual functionality—asset and governance—deepens the token’s utility.
Taken together, these upgrades reinforce that the current price rally isn’t solely speculative. Enjin’s foundation is growing more stable and scalable, providing tangible justification for renewed investor interest.
