The value of Enjin Coin (ENJ) has elevated with greater than 75 p.c during the last 24 hours in accordance with information from CoinMarketCap. The partnership may additionally be an indication that the tech mogul is diving deeper into the sphere of e-gaming.
Samsung Partners Up With Enjin Coin: It’s Official
Media outlets in South Korea confirmed the partnership between the Singapore-based firm Enjin, which is behind the cryptocurrency Enjin Coin (ENJ) and Samsung. The digital currency shall be supported by Samsung Galaxy S10 – the corporate’s newest flagship smartphone.
Somewhat expectedly, the value of ENJ surged on the information. Over the final day, it managed to achieve upwards of 75 p.c. At the time of this writing, ENJ is buying and selling at $0.17 and it’s the most effective performing altcoin from the highest 100 cryptocurrencies as listed on CoinMarketCap. Currently Enjin holds a market cap of $127 billion.
This is just not the primary time ENJ is marking a critical in a single day value surge. Just a couple of weeks in the past, when rumors concerning its partnership with Samsung began circulating the web, the cryptocurrency gained upwards of 300% in a single day.
Is Samsung Diving Deeper Into E-Gaming?
The affirmation of the partnership between Samsung and Enjin alerts an effort on behalf of the tech large to extend its involvement into the quickly rising e-sports market within the area.
It’s necessary to notice that Enjin is an organization primarily based in Singapore and is creating a complete gaming ecosystem. According to reports, the platform already has upwards of 20 million customers break up throughout 250,000 gaming communities. Its native cryptocurrency, the Enjin Coin, is used to assign possession to in-game property. It’s presupposed to allow players to monetize the time they spent taking part in video video games.
Earlier in February, Venture Beat reported that Samsung can also be working with a preferred sport engine maker – Unity Technologies. Their work collectively is geared toward bettering system efficiency and to assist video games run smoother on the brand new flagship Samsung Galaxy S10 smartphone.
In any case, it’s clear that Samsung can also be furthering its journey into the sphere of cryptocurrencies, as the brand new smartphone will also feature a hardware-backed cryptocurrency storage answer. It will initially assist Bitcoin (BTC), Ethereum (ETH), Cosmo Coin (COSM), and Enjin Coin (ENJ).
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