Enjin Coin is a cryptocurrency based on a modular blockchain platform and is centered around tokenizing gaming. The recent partnership with Samsung during the launch of Galaxy S10 sent the token’s price soaring up.
The rumors prior to the actual announcement sent the price up by a massive 989% in 31 days. A lot of traders who caught the rally made handsome profits.
@Whale_Alter, a Twitter user, tweeted:
“21,787,373 #ENJ (3,276,176 USD) transferred from Unknown wallet to #Binance.”
The transaction originated from 0x1671a3e4a2519a653e66e827ef6eae690ee86729 and ended up in 0xf629cbd94d3791c9250152bd8dfbdf380e2a3b9c. The receiver address currently holds 22.46 million ENJ, worth almost $3.65 million.
The price of Enjin peaked at $0.2587 on March 09, 2019, but has since fallen down to $0.144. The price of ENJ, at press time, was $0.1664.
The market cap of ENJ was at $125 million, with about $46 million in 24-hour trading volume. Most of the traffic for the coin was coming from Korean exchange, Bithumb via ENJ/KRW pair. BitHumb provided 61.06% of the total trading volume.
Binance followed BitHumb and contributed approximately 21% of the total trading volume via trade pairs ENJ/BTC, EMJ/ETH, and ENJ/BNB.
According to a press release, Enjin Coin (ENJ), in partnership with SENS Research Foundation [SRF] and Ethereum foundation, will be launching a charity platform for raising funds to prevent age-related diseases. The platform is said to support 20 million gamers.
The CEO of Enjin Coin (ENJ), Maxim Blagov, said:
“The Enjin team is committed to using the tremendous power of blockchain to practically benefit and support struggling communities and important scientific research being done globally. By creating a more exciting, playful and incentive-based system for people to donate, we will encourage an ecosystem for active ongoing contributions with strong potential to go viral globally, instead of one-time donations.”
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