ENJ - Why Polkadot And Related Tokens Soared Today
Digital tokens related to the Polkadot blockchain network are skyrocketing on Friday, Nov. 4. As of 1 p.m. EDT, the Polkadot (CRYPTO: DOT) token showed a 24-hour gain of 19%, while the network's testing token, Kusama (CRYPTO: KSM) , was up by 20.3%. In addition, the Enjin Coin (CRYPTO: ENJ) , which uses Polkadot to manage its non-fungible token (NFT) and Metaverse systems, jumped 26.4% over the same period.
These tokens in the Polkadot universe are surging as the underlying network takes an essential step toward full functionality.
Thursday night, the Polkadot project started entering potential parachains and their related crowdloans into the parachain slot auction that will take place next Thursday. This system is an alternative to the initial coin-offering process that injects funding into most cryptocurrency launches.
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Why Polkadot And Related Tokens Soared Today