This crypto was operated at 200% when listing on the Samsung Galaxy S10's wallet

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February 26, while the The price of bitcoins remained at $ 3,800 after a sharp 10% drop, Enjin Coin (ENJ), a crypto asset from a chain-wide channel called Enjin, which gained 150%.

Enjin Coin rose from 0.00000958 BTC to 0.00002943 by 207% in less than 24 hours against Bitcoin.

Chart Enjin Coin over 1 day (Source: TradingView)

Analysts have attributed the sharp rise in Enjin Coin's price to the inclusion of Enjin Coin among the four crypto-currencies listed on Samsung's crypto wallet, alongside Bitcoin, Ethereum and Cosmee.

Why is Enjin Coin one of the main cryptographic assets in the Samsung Blockchain portfolio?

Even after an impressive 200% fight against Bitcoin, Enjin Coin remains the 58th largest cryptocurrency on the world market.

ENJ is not one of the most valuable crypto-currencies and the asset is relatively unknown to the general public compared to dominant assets such as Bitcoin and Ethereum.

The price increase at Enjin Coin was probably fueled by the introduction of the digital asset into the Samsung Galaxy S10 user base, which could expose cryptocurrency to a larger market.

It is possible that Samsung and its blockchain development team presented ENJ as part of the launch of the Samsung Blockchain Wallet portfolio, convinced that blockchain technology could perform well outside the financial sector.

As CCN reported on Feb. 25, the official Samsung Blockchain Wallet portfolio tutorial pointed out that the blockchain could be used in many areas, including storing game items.

The tutorial, translated from Korean, reads as follows:

"The blockchain is a new method that allows each user to store and process data in a decentralized ecosystem. It is used in many fields. [Such areas include] Secure confirmation of distribution information, assurance and contract verification, copyright management, content distribution, game item storage, cryptographic asset storage and cryptocurrency transactions. "

Although Enjin is often overshadowed by major blockchain networks, it is one of the leading gaming space protocols that allows developers to deploy games effectively. based on strings of blocks.

In recent months, Enjin's team has strengthened its presence in South Korea's gambling market by participating in the Korea Mobile Game Association and Korea Blockchain's 2019 Korea Blockchain Game Show. Association on February 13th.

Enjin's efforts to aggressively penetrate South Korea's mobile gaming market have likely resulted in an unofficial partnership with the Samsung blockchain team.

Enjin at the Korea Blockchain 2019 | Source: Enjin Medium

Danbee Lee, a representative of Enjin, wrote this month:

After our presentations, many projects and participants contacted us to learn more about the Enjin platform and discuss potential cooperation. We have often been complimented for creating an ecosystem for immediate and real applications.

Overall, it was really rewarding to be part of an event bringing together experts who advocate for the massive adoption of blockchain technology – and even to see that Enjin is truly a pioneering key player in this path.

Neither Enjin nor Samsung have issued a statement confirming the nature of the partnership between the two organizations.

However, the presence of Enjin Coin as one of the four crypto-currencies listed on the Samsung Blockchain Wallet portfolio is enough to allow the biggest gain in a day of asset history.

Where is the crypto market going?

Over a longer period, traders remain optimistic about Bitcoin's short-term price trend.

Many investors were surprised by the magnitude of the Bitcoin price decline on Feb. 24, but some were expecting a pullback following a strong recovery in the region of $ 3,000. .

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