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This Crypto Surged 200% Upon Listing on Samsung Galaxy S10 Wallet

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

0, which could expose cryptocurrency to a broader market

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

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

After our presentations, many projects and attendees approached us to learn more about the Enjin Platform and discuss the potential cooperation, and we were often compliment

Overall, it was truly rewarding to be part of an event full of experts who are pushing for mass adoption of blockchain technology-and even moreso to see that Enjin is definitely a pioneer of that path

Neither Enjin nor Samsung has released a statement confirming the nature of the partnership between the two organizations

But the presence of Enjin Coin as one of the four cryptocurrencies listed on the Samsung Blockchain Wallet as sufficient to lead the strongest single-day gain in the history of the asset

Where is the Crypto Market Headed? me, traders remain optimistic on the near-term price trend of Bitcoin.

Many investors were surprised by the magnitude of the drop in the price of Bitcoin on February 24 but some expected a pullback following a strong rally from the mid- $ 3,000 region

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