The cryptocurrencies are back in the limelight, folks! And things are getting hot.
The biggest surprise in recent days was brought to us by Enjin Coin (ENJ), which experienced an unexpected surge after one hot announcement. What was first a rumour, has now been officially confirmed.
Namely, Samsung published a press release confirming they were introducing (among other high-end features) a blockchain wallet feature on its Galaxy S10 and sent shockwaves around the world. To be more precise, we now know that the phone’s private key storage will support Bitcoin, Ethereum, Cosmo Coin, and of course, Enjin Coin.
How epic would it be to see your assets landing in your wallet in real time?
Our next update will provide push notifications for ETH, ERC20 & ERC1155 Assets so you will never miss a beat—or an item!
— Enjin (@enjin) February 26, 2019
The result of the announcement was Enjin Coin’s skyrocketing. CCN writes that Enjin coin jumped by a staggering 207% against Bitcoin in just 24 hours! On February 26, the Bitcoin price stood around $3,800, while Enjin Coin, a gaming cryptocurrency, surged from 0.00000958 BTC to 0.00002943 BTC in a 24-hour period. Enjin Coin’s current market cap is around $68,000,000 USD.
This is what one crypto user had to say regarding the news:
i would have never guessed samsung would integrate enjin coin of all gaming coins let alone a gaming coin at all next to only btc, ltc & eth as options. Weird. But if the wallet automatically links to game apps ,TRULY monetizing spending time playing a game, i know to be bullish
— Https://PPP.OnziCoin.Con (@FranklyVigilant) February 26, 2019
Although Enjin Coin is not a big name like Bitcoin and Ethereum, the recent developments could open a world of possibilities for this cryptocurrency, native to Enjin – a gaming-suited blockchain platform.
So why did Samsung choose them to begin with? A reason might be that Enjin has created a solid crypto wallet available on both iOS and Android and that the smartphone giant has recognized an opportunity to make a link between the blockchain and mainstream tech.
This wallet was launched on January 8 and the Enjin team said that it is “almost as secure as a hardware wallet” on “non-rooted” Android phones. They added that in order to make sure their Enjin Smart Wallet was “ultra-secure”, they authorized “3rd party audits and penetration testing with trusted security researches and experts”.
In recent months, Enjin has increased its influence in the South Korean gaming community, even presenting at the 2019 Korea Blockchain Game Show on February 13. The latest developments are possibly connected with their efforts to penetrate the South Korean mobile gaming market through partnering with Samsung’s blockchain department.
Samsung is not the only mainstream tech company flirting with blockchain. HTC’s blockchain phone Exodus 1 can now be purchased using fiat money and has added more dapps to its app store. Another member of the crypto-focused smartphones club is Sirin Labs’ Finney, an Android smartphone with a dapp store, private key cold storage and token conversion features.
As we said above, ENJ price rocketed gaining 200% against Bitcoin in a single day. The chart below shows what we’re talking about:
On the weekly timeframe, in the chart below, we can see how the price approached very closely to its previous ATH around 3400 Satoshis. The price broke easily the previous resistance located around 1900 Satoshis and started retracing before hitting the 3000 Satoshis level.
On the hourly timeframe, the chart below, we can see how the price created two supports around 2260 and 1900 Satoshis, proceeding towards a major resistance around 2600 Satoshis.
If the price will not break this resistance, it will probably retrace more towards lower levels as we can see in the image below:
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