It’s been an action-packed couple of days in the past week for the crypto industry. Bitcoin resurged and took back $4,000 while Coinbase listed XRP. And it’s only getting better.
HTC announced yesterday that it will offer Decentraland’s LAND and MANA tokens on its Exodus smartphone. Exodus is HTC’s flagship blockchain phone and the world’s first native blockchain smartphone. Exodus users will be able to securely store their Decentraland assets on the phone’s Zion Vault, the all-in-one blockchain pre-installed blockchain vault.
The announcement sent the price of Decentraland’s MANA token surging upwards immediately. In the past 24 hours, the price has gained 26 percent. It now stands at $0.047, giving it a market cap of $49.3 million.
In the two hours following the announcement, Decentraland shot up an incredible 60 percent. The price rose from $0.036 to $0.055, a 53 percent gain.
The rise was mainly spurred by an unbelievable spike in MANA’s trading volume. Before the announcement, the 24-hour trading volume stood at $2.2 million. Immediately after, the volume spiked 650 percent to $15.5 million. At press time, the volume stood at $42 million, the highest trading volume the crypto has recorded since July 2018.
A majority of the trading volume emanated from Binance. The exchange accounted for 58 percent of the volume with $25 million worth of trades. Coineal, Bittrex and UPbit are a distant second, third and fourth respectively.
Decentraland is a platform that allows 3D content creators to create and monetize their content. Users trade goods on the platform using the native MANA token. The platform is launching its easy-to-use editor known as Builder in March. Builder will enable users to create unique 3D environments for the Decentraland virtual world.
The Samsung Effect
South Korean electronics giant Samsung recently launched their Galaxy S10 line of smartphones. The new smartphones have taken the world by storm, both because of their features as well as their hefty prices. And while the technophiles were marveling at the 6.1-inch screen gadget, the crypto community was concerned about something else.
The Galaxy S10 comes with an in-built crypto wallet, a massive endorsement to the crypto industry. Samsung was the world’s leading smartphone maker in 2018 according to IDC, ahead of Huawei and Apple respectively.
The S10 crypto wallet supports the usual suspects, bitcoin and Ethereum. However, it also supports two more coins, both of which have seen incredible gains following the announcement.
The first is Enjin Coin, a digital currency that caters mainly to the gaming community. Enjin took off following the announcement, hitting its highest price since June last year. The currency spiked from $0.0367 to $0.105, a 189 percent rise.
As with Decentraland, the volume experienced an unbelievable rise from $2.2 million to $112 million, a 5,000 percent spike. This is the highest volume it has registered in its one year and three months of existence.
Yet another crypto, Cosmo Coin also reaped big from its inclusion in the Galaxy S10 crypto wallet. Cosmo Coin (COSM) is a digital currency that caters to the cosmetics and beauty industry. COSM gained 63 percent to move from $0.0143 to $0.0234.
Samsung also announced that it will be supporting selected decentralized applications on the new smartphones. One of them is COSMEE, the dApp that supports the COSM coin. On this dApp, users can review beauty and cosmetic products and get rewarded with COSM coins.