There has been no news at all regarding the precious metals exploration and production firm Discovery Minerals Ltd (OTCMKTS:DSCR) for many weeks, however, the company’s stock made a big move on Tuesday.
The Discovery Minerals stock soared by as much as 58% as investors piled on to it in a big way despite there being no material news about the company. The last major news with regards to the company had emerged back in May this year when the company announced that it was going to launch its own utility based cryptocurrency named Discovery Minerals Coin.
The Discovery Minerals Coin or DSC is going to be classified as a ‘tethered coin’ since it is going to be backed up by other assets. At the time of the announcement back in May, it was announced that the DSC is going to be backed by 2100 gold ounces, 2100 ounces worth of silver, 2100 Bitcoin tokens and 2100 Ethereum tokens.
Considering the fact that the cryptocurrency sector has grown immensely in popularity in recent time, it could prove to be a well timed move from the company. Investors could consider taking a look at the Discovery Minerals website and read more about its cryptocurrency project.
Market Reaction:
On Tuesday, DSCR stock surged 58% at $0.0139 with more than 179.84 million shares, compared to its average volume of 89.90 million shares. The stock has moved within a range of $0.0089 – 0.0139 after opening the trade at $0.0091. Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.0360.
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