Life Clips Inc (OTCMKTS:LCLP) is once again showing signs of edging higher after rallying by 12% after a recent pull back from four-year highs. The stock is also up by more than 50% for the week. The stock has been on an impressive run in 2021 at the back of improving underlying fundamentals.
The expansion of the company’s operations into the cryptocurrency sector might as well be the catalyst to steer the stock higher after the recent pullback. The parent company of Belfrics Global and Cognitive Apps Software Solutions Inc. is fresh from confirming that the subsidiary has started offering crypto derivatives and leveraged forex instruments on its platform.
Belfrics clients will now trade an array of instruments, including crypto derivatives and currency pairs, in the forex market. Belfrics holds a money broker license from the Labuan Financial Services Authority in Malaysia. It also boasts ten operational offices in eight countries.
Life Clips closed the acquisition of Belfrics Group in August, gaining access to a valuable global technology firm for gaining exposure in the burgeoning cryptocurrency market.
Market Reaction:
On Monday, LCLP stock jumped 13% at $0.0342 with more than 77.49 million shares, compared to its average volume of 127.54 million shares. The stock has moved within a range of $0.0280 – 0.0348 after opening the trade at $0.0338.
