Companies are increasingly getting into the cryptocurrency sector owing to the explosive growth that has been in recent years and one of the companies that did so not too long was Phunware Inc (NASDAQ:PHUN).
Last month, Phunware was in focus among many investors after the mobile enterprise cloud platform operator announced that it launched its own security token named PhunCoin. The announcement was made on August 27 and the stock has been in focus among investors ever since. Over the course of the past one month, the Phunware stock has moved up steadily and managed to clock gains of as much as 7%.
That marked the entry of the company into the cryptocurrency space. It is being marketed as an innovative cryptocurrency that could be ideal for widespread adoption. After, it deploys the distribution and global reach of a company that is already listed on NASDAQ and that is something that many investors as well as traders are expected to keep in mind. Phunware had been established back in 2009 and over the years it has become synonymous with the building of mobile ecosystems. It has built such ecosystems for some of the world’s biggest companies during its existence.
