News of Samsung Galaxy S10 Blockchain Wallet Supporting Enjin Coin (ENJ) Causes 150% Rise in Gains
Though Bitcoin has dropped back down below the $4,000-mark, other coins are seeing much better fortune. Enjin Coin (ENJ) is the crypto asset on the Enjin blockchain network, and it has recently surged about 200%, bringing the value from 0.00000958 BTC to 0.00002943. The rise in value seems to directly coincide with their new listing on the Samsung crypto wallet, found on Galaxy S10, according to crypto analysts.
Right now, for some reason, Enjin Coin is considered to be a major asset on the Samsung blockchain wallet, listed alongside Bitcoin, Ethereum, and Cosmee. This situation is unique in that ENJ is not even in the top 10 cryptocurrencies by market cap, it is relatively unknown, and it wasn’t even ranked #58 until after the addition to Samsung. In reports from CCN, the publication suggests that Samsung and its development team have chosen ENJ due to their belief that blockchain technology can thrive outside of finance.
Samsung Blockchain Wallet has already posted an official tutorial on their use, which includes a significant emphasis on the many uses of blockchain, including in that of game items storage. Translated from Korean, the tutorial says,
“The blockchain is a new method that enables every user to store and process data in a decentralized ecosystem, and it is used in many areas. [Such areas include] secure distribution information confirmation, insurance and contract verification, copyrights management, content distribution, game items storage, crypto assets storage, and cryptocurrency transactions.”
Even though most people would sooner recognize another blockchain network over Enjin, it is considered to be one of the leading protocols in blockchain gaming. Developers are able to use the protocol in blockchain-based games.
Over the last few months, the South Korean sector of Enjin’s gaming market has become even stronger. In fact, on February 13th, the Enjin team presented their work at the 2019 Korea Blockchain Game Show, which was hosted by the Korea Mobile Game Association and the Korea Blockchain Contents Association. In their aggressive work to be involved in mobile gaming in South Korea, it is likely that the Samsung blockchain team took note.
Speaking on the event, Danbee Lee of Enjin wrote,
“After our presentations, many projects and attendees approached us to learn more about the Enjin Platform and discuss potential cooperation, and we were frequently complimented for creating an ecosystem that allows for immediate application and real-life use cases.”
Continuing, Lee added,
“Overall, it was truly rewarding to be part of an event full of experts who are all pushing for mass adoption of blockchain technology—and even more so to see that Enjin is definitely a key player pioneering that path.”
So far, there is been no comment from either Enjin or Samsung in relation to this partnership or its purposes. However, the simple fact that Enjin Coin is included as one of only four cryptocurrencies that Samsung has listed on the blockchain-based wallet is a clear statement on Samsung’s opinion of it.
Right now, Enjin Coin is ranked #60 by market capitalization and has seen an increase of 21.82% over the last 24 hours, making the total value $0.087708. The new price is about 2,980 times what it was yesterday and over 9,000 times what it was before the addition to Samsung’s blockchain-based wallet.
Considering that the increase was 200% only a day ago, it is likely that ENJ is settling into the rank it will stay around for now.