The asking price of Enjin Coin (ENJ) has increased with at least 75 percent over the last 24 hours basing on to data from CoinMarketCap. The partnership may also be an indication that the tech mogul is diving much deeper into the field of e-gaming. Either way, this is some of the most exciting crypto news to come out in a while!
It's Official – Samsung Partners Up With Enjin Coin!
Media outlets in South Korea affirmed the partnership between the Singapore-based company Enjin, which is behind the cryptocurrency Enjin Coin (ENJ) and Samsung. The digital currency will be supported by Samsung Galaxy S10– the company's most recently released flagship smartphone.
Quite expectedly, the price tag of ENJ swelled on the news. Throughout the last day, it managed to gain upwards of 75 percent. During the time of this writing, ENJ is trading at $0.17 and it's the best performing altcoin from the top 100 cryptocurrencies as listed on CoinMarketCap. At the moment Enjin holds a market cap of $127 billion.
This is not the first time ENJ is marking a significant overnight price surge. Just a few weeks ago, when whispers relating to its partnership with Samsung started circulating the internet, the cryptocurrency grew upwards of 300% overnight.
Is A Deep Dive Into E-Gaming Samsungs Objective?
The confirmation of the partnership between Samsung and Enjin signifies an effort on behalf of the tech giant to increase its involvement into the quickly growing e-sports market in the area.
It is necessary to keep in mind that Enjin is a company based in Singapore and is developing a whole gaming community. According to reports, the platform already has upwards of 20 million users split throughout 250,000 gaming neighborhoods. Its native cryptocurrency, the Enjin Coin, is used to appoint ownership to in-game assets. It's supposed to make it possible for players to monetize the time they spent playing computer game.
Early on in February, Venture Beat revealed that Samsung is also working with a well-known game engine maker– Unity Technologies. Their work together is focused on greatly improving device efficiency and to serve to help games run better on the new flagship Samsung Galaxy S10 smartphone.
In any case, it's very clear that Samsung is also promoting its venture into the field of cryptocurrencies, as the new smartphone will also include a hardware-backed cryptocurrency storage solution. It will at first support Bitcoin (BTC), Ethereum (ETH), Cosmo Coin (COSM), and Enjin Coin (ENJ).
Is this a genuine significant development or just more news that won't do much? Let us know your thoughts in the comments section below!
The post Samsung Partnership Was Confirmed: Enjin Coin (ENJ) Gains 75% In Response appeared first on CryptoPotato.