Enjin Coin’s Samsung Galaxy S10 Rumours Send ENJ Price Moonbound; 151% Overnight

Enjin Coin (ENJ) struck 151% growth overnight as traders speculated on the rumour that the Samsung Galaxy S10 might be shipping with the Enjin wallet pre-installed.

The rumour remains unconfirmed for the time being, but that hasn’t stopped ENJ trade volume racing to an all-time high of $115 million – more than double the previous ATH recorded in January 2018.

Samsung announced token support for ENJ during the Galaxy S10 reveal; meanwhile, publicity photos show Enjin lined up alongside Basic Attention Token (BAT) on the S10’s crypto wallet screen.

Enjin on Samsung Galaxy S10?

Read CCN’s coverage for a breakdown of the S10’s confirmed features to date. The smartphone is expected to hold BTC, ETH and all ERC-20 tokens as standard.

The Enjin Coin subreddit came alive last night as ENJ shot up in price, and the Samsung rumours were enough to prompt this kind of detective work from eager ENJ holders:

“Everything is aligning like there is something to it:

  • Multiple images from Tworld with enj wallet beside S10
  • Samsung speaks at GDC 15 mins after ENJ
  • Korean exchanges are seeing crazy volumes fomoing into enj
  • Max (Enjin CEO) tweets MAJOR WALLET FEATURE 🚀
  • Samsung consulted unity for game improvements in S10 unity/enj connections
  • Enj admins silent as F&M Korea’s, dispelling nothing
  • Enj has in game crypto economics on lock
  • Samsung just added the enj wallet to the galaxy store 3 days ago

It all adds up to something, not sure what but I have my hunches…”

One humble crypto user summed up the general sentiment surrounding the Enjin-Samsung 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.”

That sentiment is one of mild confusion, mixed with a kind of bristling optimism. Personally I haven’t explored Enjin much at all, nor have I used its wallet service, yet it’s hard not to feel optimistic for its current (rumoured) endeavour.

There’s no word yet as to whether ENJ will indeed be tied to a mobile gaming economy on the S10. If such rumours were true, and Samsung’s 31 million users were exposed to the digital ecosystem of blockchain gaming, this could prove to be an historical development in the spread of cryptocurrency across the globe.

Enjin Price – ENJ/USD

From Monday’s low of $0.043082, the ENJ token rose 151% in value up to $0.108382. Most of that came in less than 24 hours, and was accompanied by a 1,816% increase to trade volume resulting in a peak daily changeover of $115 million – the highest in Enjin’s history.

That sent ENJ charging through the market cap rankings, landing among the top fifty after previously languishing on CoinMarketCap’s second page. The other token included in Samsung’s publicity photos, Basic Attention Token (BAT), also gained 46% in the same time period.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Author:
Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.