This morning the iMD Companies Inc (OTCMKTS:ICBU) stock has seen considerable action and gone up by 15% after the company made a key announcement. The company announced that its initiative to create a new crypto utility or assed based token has been given the approval by its Board of Directors.
It is a major development for the company and the excitement among investors is understandable considering the remarkable growth enjoyed by digital assets in recent years. iMD has revealed that it is going to use the coin for the purposes of financial transactions and trading.
However, that is not all. The company wants to eventually build the token in such a way that it rewards those who use it for various transactions. In order to facilitate this, the company is going to build its own exchange through which this coin can be sold, traded and help in processing transactions.
iMB believes that the exchange is going to help in creating an ecosystem around the token. As per the research conducted by the company, it is going to launch its initial coin offering with 100000000 coins. The coin is going to be backed by a combination of assets like Bitcoin Cash, Ethereum, Litecoin and Bitcoin.
Market Reaction:
As of 9:55, INUV stock jumped 7% to $0.0088 with more than 18 million shares, compared to its average volume of 79.18 million shares. The stock has moved within a range of $0.0071 – 0.0100 after opening the trade at $0.0095. Over the past 52-week, the stock has been trading within a range of $0.0002 – 0.0465.
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