Categories: CryptoNews

ASX-Traded Blockchain Company DigitalX Gains Over 11% In Valuation

When looking at the Google Finance statistics, one often comes across some interesting information. DigitalX Ltd, a company active in the world of blockchain technology, has seen its stocks go up by 11.11% all of a sudden. This is quite noteworthy, considering how the majority of assets and stocks around the world are on the decline.

DigitalX Peaks Green In ASX Sea of Red

The Australian Stock Exchange has been taking a lot of hits over the past few days. All of these declines are a direct result of the Brexit. As most people are well aware of, Australia is under the UK umbrella, and any decision made in Europe will affect the region. Hence, stock declines left, right, and center.

DigitalX is one of the blockchain companies being actively traded on the ASX. In fact, they are also one of the very few companies who gained in value, instead of seeing sideways or downwards action. So much even, that DigitalX is up by over 11% for today, which is quite a significant gain.

Bitcoin enthusiasts will know the name DigitalX as the company focuses on developing blockchain-based software solutions. Among their products are AirPocket, a money transfer platform, and DigitalX Direct. This latter one is kind of interesting, as it is designed to provide real-time Bitcoin liquidity to commercial operators and institutional investors.

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DigitalX is a publicly traded company on the ASX, and they seem to be gaining momentum in the market. Investors all over the world are looking for new opportunities, and blockchain companies tend to do well over time. Interestingly enough, their 11.11% gain comes at a time when the ASX 200 lost 0.66%.

Whether or not this means investors will flock to blockchain companies on stock markets, remains to be seen. This may have been a one-off for all we know, and it is hard to judge what will happen next. But it is an interesting turn of events; that much is certain.

Images credit 1,2

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JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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JP Buntinx

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