Crypto platforms are finally getting their well-deserved attention in the mainstream. Well, at least some of them do. Enjin Coin (ENJ) was one of the unexpected winners, with the price of ENJ jumping to unimaginable heights, and now the membership in this club has grown for another player – Decentraland’s MANA coin.
The price increase came after the announcement of smartphone manufacturer HTC about accepting fiat payments on its new blockchain phone called Exodus 1. This announcement could be heard at the Mobile World Congres (MWC) taking place in Barcelona, Spain, this week.
What does Decentraland have to do with this? Well, the answer lies in the fact that Exodus 1 is going to be equipped with not only the HTC Zion crypto wallet, Opera browser and the Basic Attention Token (BAT), but also with support for a number of dapps, including our hero – the Ethereum-powered virtual reality platform Decentraland.
In other words, Exodus 1’s Zion wallet, which utilizes a trusted execution environment protecting data from outside corruption, will from now on support two of Decentraland’s tokens – non-fungible virtual real-estate (LAND) and MANA, the ERC-20 token utilized as a currency for purchasing and selling virtual plots of lands (among other things) in Decentraland.
Following the announcement, the MANA token jumped up by 57% – from $0.035 to $0.055. The daily volume also increased from around $2,000,000 to a staggering $38,000,000 USD. MANA’s current market cap is around $49,750,000 USD.
As for Decentraland, it is all green pastures from now on, with their upcoming March launch of the Builder, an easy to use tool which will be used for creating scenes inside Decentraland. The HTC partnership is definitely icing on the cake.
Price Supports & Resistances
On a daily timeframe, we can locate some possible resistances around:
- $0.049 USDT
- $0.058 USDT
- $0.067 USDT
- $0.077 USDT
In the chart below we have a view on a shorter timeframe, 4 Hours:
Here we can see a considerable resistance around $0.061 USDT, in red, and possible supports at $0.046 and $0.041 USDT.
Is crypto winter nearing its end?
This story is only a small drop in the sea of similar developments accompanying mobile phone manufacturers and blockchain platforms. Earlier, news broke that Korean tech giant Samsung would equip its new Galaxy S10 phone with secure private key storage capabilities and cryptocurrency wallet courtesy of Enjin Network. After the news, ENJ jumped by 200% against BTC, sending the crypto community into a frenzy.
Another altcoin mentioned in the news is COSM, an ERC-20 based token powering Cosmee, a Korean beauty and cosmetic oriented blockchain platform. COSM also experiences a surge by 67%, jumping from $0.0143 to $0.0239 USD.
It remains to be seen whether these developments will bring any sunshine into the crypto winter upon us.
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