Enjin Coin (ENJ) price surges by 69.7% as new Substreak Telegram integration unlocks 1 billion users

The move followed a wave of announcements highlighting new ecosystem features, particularly the rollout of Substreak.

NOIDA (CoinChapter.com) – Enjin Coin (ENJ) price soared by 69.7% on April 21, trading at around $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 at around $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 Price Faces Key Resistance, But Technicals Show Strength

At press time, ENJ prices were up 98% since April 18 to reach a daily high of around $0.119 before pulling back slightly.

Enjin Coin’s sharp rally brought it face-to-face with a key resistance zone, encountered previously in December 2023 and May 2024, when the price bounced on multiple occasions. Flipping the immediate resistance would help ENJ price target the 100-day EMA (blue) resistance at around $0.112, as indicated by the Volume Profile Visible Range (VRVP).

Moreover, ENJ trades above the 0.382 and 0.5 Fibonacci retracement levels from the March 2023 to December 2023 move, showcasing 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 at around $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 on Monday, 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.

Indeed, 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, enabling 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.

The challenge is hosted on NFT.io and rewards user interaction with Enjin’s NFT marketplace. Participants can earn exclusive NFTs