Enjin Coin Skyrockets Over 70% After Samsung Confirmed As Partner

Enjincoin (ENJ) has soared more than 70% after confirming that it is a partner of Samsung Electronics.  Media outlets in South Korea reported the partnership between Enjin and  Samsung. The new S10 smartphones released by Samsung could possibly include Enjin’s technology.

Enjin Confirms It Has an Official Partnership with Samsung

Enjincoin has skyrocketed during the last hours after confirmation that the company behind the digital asset is working with Samsung. The smartphones manufacturer company has recently launched its new S10 devices that could include blockchain-related solutions for users.

During a conversation with CoinDesk, Enjin’s VP of Marketing, Simon Kertonegoro, explained:

“While I can confirm that we have an official partnership with Samsung, I’m not at liberty to disclose any other information at this point.”

The new devices released by Samsung will include a service for users to store private keys for their blockchain-related assets. This smartphone released by Samsung could eventually reach 45 million users around the world.

When the company showed the Blockchain Keystore, they also displayed a picture that included the logo of the gaming platform created by Enjin. Due to this situation, the crypto community started to speculate about Enjin being integrated with the Samsung Blockchain Keystore on the S10 device.

The coin is used to make in-game purchases such as virtual goods. It can be traded against other digital currencies and it can be used to create new in-game e-commerce ecosystems with the ERC-115 token.

When Samsung hinted that it could be working with Enjin to power its blockchain solution, the digital asset moved from $0.036 up to $0.108. That represented a price increase of 200% in just a few hours. The cryptocurrency has now reached almost $0.19 per coin.

In terms of BTC, the digital asset has surpassed its all-time high registered at the beginning of January 2018. Each ENJ can be purchased for 0.00004218 BTC.

ENJ is currently the 45th largest digital asset in the market. It has a market capitalization of $127 million and each ENJ coin can be purchased for $0.166. The company has been trying to capitalize on this price increase during the last weeks. The company has announced on March 5 the new Blockchain Software Development Kit (SDK) that will be launched as soon as on March 14.