Enjin Coin (ENJ) is up 70 percent after reports earlier today that confirmed a partnership with South Korean technology giant Samsung. On Friday, news outlets in South Korea reported the partnership between Enjin, and Samsung’s flagship smartphone S10.
This news prompted Korean investors to buy ENJ and push it’s price up by 73% at the time of writing. This follows on from the news that Samsung was incorporating a crypto wallet into it’s new smartphone.
Samsung crypto wallet starts the Enjin Coin (ENJ) pump
In late February, Samsung presented S10 at MWC Barcelona 2019, and showcased the phone’s Blockchain Keystore feature, which will house private keys to cryptocurrency assets – a function that has drawn attention thanks to the flagship product’s predicted reach of 45 million users in 2019.
During the showcase in Barcelona, Samsung also displayed a picture that included the logo of the Enjin crypto gaming platform. Many have been speculating since then the possibility that the Enjin wallet will be integrated with the Samsung Blockchain Keystore on S10.
Enjin Coin is a cryptocurrency for virtual goods, namely in-game items that can be exchanged, traded or swapped cross platform with the potential to create entirely new in-game e-commerce systems.
24 hour ENJ chart
Rumors began circulating Feb. 25 with this image aligned to the Samsung Blockchain Keystore and a leaked video of the Samsung Mobile Business Development Summit featuring Enjin’s logo.
There was a major spike on March 5 after announcing their Blockchain Software Development Kit (SDK) is due to launch on March 14, which helped price close out 27.5 percent higher. On March 8th there was another pump on the confirmed partnership with a rise of over 70 percent over a 24-hour period to it’s current level.