Whereas most of the crypto markets worth their salt are still in the green, it also becomes evident the alternative market tend to struggle a bit at this time. The ongoing increase in Bitcoin value can easily drive altcoin prices down. The Enjin Coin price seems to fall in this latter category, as it is incapable of maintaining its value for very long this week.
When Will the Enjin Coin Price Recover?
It is not entirely abnormal to see altcoins lose a bit of value when Bitcoin goes through an extended bull trend. After all, altcoins derive value from Bitcoin, yet these trends tend to drive down the internal value between said altcoin and Bitcoin. Enjin Coin knows this struggle all too well, as its BTC-based losses force the USD value down as well.
More specifically, the Enjin Coin price is down by just over 3% as it dropped to $0.148364. There is also a 6.51% loss in ENJ /BTC and a 5.57% loss in ENJ/ETH. These two latter ratios cause the downward slope in USD value, and it seems things may not necessarily improve in the near…