On February 26, the Enjin Coin (ENJ) experienced a 150 percent increase while the price of Bitcoin hovered at the $3800 mark. Enjin is native token for a gaming-suited distributed consensus protocol.
204% Increase in 24 Hours
However, during the last 24 hours only, Enjin Coin spiked by a whopping 207 percent! The proof was that its value against the Bitcoin increased from a mere 0.00000958 BTC to 0.00002943. The reason for this was determined to be the listing of the Enjin Coin on the Samsung crypto wallet alongside Cosmee and cryptocurrency giants like Bitcoin and Ethereum.
However, for some cryptocurrency experts, the surprising 200 percent rally of Enjin Coin against Bitcoin was not at all that impressive. After all, the Enjin Coin is still ranked 58th among the cryptocurrencies in the global market when it comes to volume. Also, ENJ is still not that high when it comes to value and popularity and still pales in comparison to Bitcoin and Ethereum.
Digital Assets Storage
The report of CCN on February 25 states that Samsung included ENJ in its Samsung Blockchain Wallet because Samsung believed that ENJ could be of good use to the game items storage aspect of the prestigious Korean company.
Through this move by Samsung, the user base of the newly launched Samsung Galaxy 10 is now aware that they can use the Enjin Coin. This must have been one of the reasons for the price surge of ENJ. The blockchain development team of Samsung must have included ENJ to show the world that blockchain technology can operate outside the field of finance.
Despite the current bearish trend, the crypto market is hopeful about the price of Bitcoin. Many are still expecting a pullback after the sudden plunge of the price of Bitcoin on February 24.
Enjin Coin shows the positive side of the world of crypto assets. Despite its being overshadowed by a large number of blockchain networks, Enjin is a leading protocol in the gaming space of blockchain. Enjin enables easy deployment of games that are blockchain-based. This is a big help to game developers.
Global Gaming Market
In fact, in the past few months, the development team of Enjin has done everything to strengthen Enjin’s presence in the South Korean gaming market. In fact, Enjin presented itself in the 2019 Korea Blockchain Game Show on February 13. Through these efforts, one can see Enjin’s focused efforts in order to penetrate South Korea’s mobile gaming market.
As one can see, the result of Enjin’s efforts bore very good fruit.