Nowadays more and more companies are getting into the blockchain and cryptocurrency spaces due to the possibility of considerable growth and one of the latest companies to have done that is Life Clips Inc (OTCMKTS:LCLP).
The company announced yesterday that it reached an agreement with regards to the acquisition of Belfrics Group. Belfrics is a blockchain technology which runs crypto exchanges in Nigeria, Bahrain, India, Tanzania, Singapore and Malaysia. The exchanges are run on the company’s own proprietary platform. The announcement from Life Clips with regards to the acquisition came as a massive boost to its stock as investors piled on to it in a big way.
The stock soared by as much as 1800% yesterday and is expected to continue to be in considerable focus through the rest of the week. In addition to that, it is also necessary for investors to keep in mind that Belfrics has the capacity to process as many as 1 million crypto transactions per second. This acquisition is going to mark the entry of Life Clips in an industry that is currently worth in trillions and hence, the excitement among investors is understandable. Investors could do well to keep the stock in their watch lists.
Market Reaction:
On Wednesday, LCLP stock skyrocketed 1803% at $0.0333 with more than 2.89 billion shares, compared to its average volume of 92.54 million shares. The stock had moved within a range of $0.0032 – 0.0420 after opening the trade at $0.0037. Over the past 52-week, the stock has been trading within a range of $0.0002 – 0.0420.
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