After an announcement from BIGG Digital Assets Inc (OTCMKTS:BBKCF) this morning, the stock made a move but has given up those gains plus some. Now what?
Market Action
BBKCF gapped up this morning. The stock opened at 2.487 advanced to 2.56 up 9.4% but couldnt hold on and has been selling off ever since. As of 12:00 shares were trading at 2.30 down 1%. The stock did briefly trade below the 2.25 mark which was Tuesdays closing price and a small support area Wednesday. If BBKCF trades below this area for more than a few minutes there could be pressure that leads to testing the 1.75 Wednesday low over the next few days. BBKCF has been declining the last six sessions. but a close above 2.34 may offer the bulls some hope of a turn.
The company announced that its subsidiary company Blockchain Intelligence Group has inked a partnership with Brane Capital, a Canadian fintech company. Blockchain Intelligence, which is involved in blockchain technology research and data analytics, is going to work on the fast-growing digital assets space with Brane Capital.
As per the press release:- “This partnership will provide highly secure custodial solutions with continuous address monitoring for financial institutions and law enforcement agencies, closing the gap between government institutions, regulated financial institutions, and the emerging blockchain industry. The combined solutions give customers the option to integrate BIG’s blockchain compliance solutions within Brane’s existing infrastructure.”
The partnership is looking to provide custodial solutions which are highly secure in nature and can be used by a range of entities like law enforcement agencies as well as financial institutions among others.
In addition to that, the solutions created through this partnership will also allow clients the possibility of combining BIGG’s blockchain compliance products with the infrastructure provided by Brane.
It now remains to be seen if the BBKCF will close strong and turn or head to the 1.75 area and lower.
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