On February 26, while the Bitcoin price remained at $ 3,800 following a sudden 10 percent drop, Enjin Coin (ENJ), and a crypto asset native to a gaming-suited blockchain network called Enjin, spiked by more than 150 percent .
Enjin Coin 1-Day Chart (Source: TradingView)
Analysts have attributed
Against Bitcoin at its daily peak, Enjin Coin surged from 0.00000958 BTC to 0.00002943 by 207 percent within a 24-hour span. The Enjin Coin is one of the four cryptocurrencies listed on the native crypto wallet of Samsung alongside Bitcoin, Ethereum and Cosmee
Why is Enjin Coin listed as Major Crypto Asset on the Samsung Blockchain Wallet
Even after an impressive 200 percent rally against Bitcoin, Enjin Coin remains as the 58th largest cryptocurrency in the global market
ENJ is not one of the most valuable cryptocurrencies and the asset is relatively unknown it t
The price surge of Enjin Coin was probably fueled by the introduction of the digital asset to the user base of the Samsung Galaxy S1
Samsung Mobile Business Development Summit: They are serious about blockchain. Also features @enjin logo as a partner, confirming rumors in my video https://t.co/n1OpOP1fEF. Exciting times! pic.twitter.com/5t7TRWg0pc
– Boxmining (@boxmining) February 25, 2019
It is possible that Samsung and its blockchain development team showcased ENJ as part of the launch of the Samsung Blockchain Wallet because of the team's belief that the blockchain technology has the potential to perform outside the realm of finance
As CCN reported on February 25, the official tutorial of the Samsung Blockchain Wallet emphasized that the blockchain can be used in many areas including game items storage
"The blockchain is a new method that enables every user to store and process data in a decentralized ecosystem and is used in many areas . [Such areas include] secure distribution information confirmation, insurance and contract verification, copyright management, content distribution, game items storage, crypto assets storage, and cryptocurrency transactions. "
While Enjin is often overshadowed by major blockchain networks, (19659002) In the past several months, Enjin team has strengthened its presence on the gaming market of South Korea, presenting at the 2019 Korea Blockchain Game Show hosted by the Korea Mobile Game Association and the Korea Blockchain Content Association on February 13.
Enjin at the 2019 Korea Blockchain Game Show Source: Enjin Medium