Enjin Coin (ENJ), a gaming-focused cryptocurrency created by Singapore-based Enjin, has recently seen its price jump over 95% in a day thanks to South Korean news outlets, which confirmed the company’s partnership with Samsung.
The price rise, as such, has initially been caused by Korean investors jumping into the market, as Enjin’s cryptocurrency wallet is believed to be integrated into Samsung’s new flagship smartphone, the Galaxy S10.
At press time, ENJ is up by 95.3% in the last 24-hour period and is trading at 0.175 USDT. The cryptocurrency has previously benefited from revolving around the partnership with the South Korean tech giant, which helped its price rise. In the last 30 days, ENJ is up a staggering 550%, as in February it was trading at 0.03 USDT.
The company, when reached for comment by CoinDesk, reportedly revealed that it did partner with Samsung Electronics, but didn’t reveal any more details. Last month, the South Korean tech giant revealed its Galaxy S10 smartphone to the world, and through a press release noted it has a Blockchain Keystore feature, that’s set to be used to house cryptocurrencies.
The cryptocurrency community has long suspected the S10 was going to include a built-in cryptocurrency wallet, as leaked images dating back to January suggested it was there. Right after the smartphone was launched, Twitter user Heslin Kim shared a video that appeared to show the Blockchain Keystore feature includes some type of ‘blockchain tutorials.’
🇰🇷 - Samsung now priming their phones with Blockchain tutorials. The wallet integration on the Galaxy S10 has been confirmed... even after they denied it. Trying to keep Apple on their toes? pic.twitter.com/wAd7EaPzKw— Heslin Kim @BlockchainROK (@BlockchainROK) February 21, 2019
The Galaxy S10 is reportedly going to support various cryptocurrencies, including bitcoin, litecoin, ether, and ERC-20 tokens, thanks to the Enjin Crypto wallet. This, as the website of South Korea’s largest wireless carrier, SK Telecom, posted a product listing page for the smartphone that includes images from the wallet.
Enjin Coin’s price has been surging on the partnership not just because of Samsung’s size, but also because the Galaxy S10 itself is predicted to have a reach of 45 million users this year. The coin itself is to be used for virtual goods, such as in-game items and collectibles players can swap across platforms.
It has also risen as it recently announced the launch of its Blockchain Software Development Kit (SDK), due to launch on March 14.