The cryptocurrency and blockchain space has become a hotbed for innovation in recent years. One such innovation that has been generating buzz in the crypto society is Yachtify (YCHT), a platform that will allow people to buy, sell, and rent luxury yachts using the platform’s native token.
Yachtify is currently hosting the first stage of its highly-anticipated token presale which has witnessed attention from numerous investors. However, the prices of other cryptocurrencies, such as Stacks (STX) and Enjin Coin (ENJ), have tanked lately due to reduced user activity.
Can Stacks (STX) Price Overcome Resistance
On May 2nd, Stacks (STX) price saw a breakout from a descending resistance line that had been in place since March 20th. This breakout could trigger a significant price increase if the upward movement continues.
Meanwhile, the next resistance level for Stacks (STX) investors to watch out for is at $1, which is formed by a horizontal resistance area and a Fib resistance level.
However, if the Stacks (STX) price fails to maintain the breakout and falls below the resistance line, it will indicate that the breakout was invalid. In such a scenario, Stacks’ (STX) price could drop to $0.40.
Currently, the price of Stacks (STX) stands at $0.729079, with a 24-hour trading volume of $64,592,565. Over the past 24 hours, the token’s price has declined by 6.43%, while over the past 7 days, it has seen a decrease of 1.89%.
Enjin Coin (ENJ) Dips Despite Launch Of NFT Marketplace
Earlier this week, Enjin Coin (ENJ) unveiled NFT.io beta, an NFT marketplace. According to the Enjin Coin (ENJ) team, the next-gen marketplace will limit access to only holders of the exclusive N-Chip NFT key on the JumpNet version.
Additionally, Enjin Coin (ENJ) also released a wallet update that features a brand-new collectible design for a better viewing experience for users. The update also featured a range of improvements and bug fixes on the wallet application.
According to CoinGecko, Enjin Coin (ENJ) is priced at $0.382572, with a 24-hour trading volume of $14,293,074. Over the past 24 hours, the price of Enjin Coin (ENJ) has decreased by 0.63%, while dropping 4.28% over the past 7 days.
Yachtify (YCHT): A Promising Web3 Investment Contender
The luxury yacht market has been an exclusive space only accessible to the affluent for a long time. However, Yachtify is looking to challenge this notion with a revolutionary fractional ownership model using blockchain technology and NFTs.
By democratizing the luxury yacht sector, Yachtify aims to provide exciting investment opportunities to a wider range of cryptocurrency investors. Moreover, the platform recognizes that the yacht market has huge potential for exponential growth.
The market has seen increased demand from consumers and investors since the COVID-19 pandemic. Yachtify’s unique fractional ownership model will enable investors of all income levels to access the benefits of owning a yacht without incurring the full expenses and responsibilities associated with the whole ordeal.
Find out more about the Yachtify (YCHT) presale: