Yesterday the PHI Group Inc (OTCMKTS:PHIL) stock was back in focus among investors and ended the day with gains of as much as 5% after it made a major announcement. Yesterday the company announced that it was planning to launch its ADE Token in South Korea.
Market Action:
On Tuesday, PHIL stock rose 5.08% at $0.0062 with more than 188.53 million shares, compared to its average volume of 245.76 million shares. The stock has moved within a range of $0.0060 – 0.0069 after opening the trade at $0.0061.
PHI Group Announces ADE Token Launch
The token is going to be launched on the Asia Diamond Exchange. The crypto sector is on the up once again and perhaps the launch of a new token has led to optimism among investors with regards to the PHI Group stock. In this situation, it might be a good idea for investors to take a closer look at the nature of the ADE Token.
The token in question is meant for enhancing transparency and promote fair pricing in the dynamic diamond industry. In essence, it seeks to boost the benefits that are going to accrue to all the stakeholders in the industry.
Transaction are going to be validated on the blockchain and once that happens, it is going to make it impossible for counterfeits or substandard diamonds to pass muster. In light of the latest rally in the PHI Group stock, it could be a good move for investors to add the stock to their watch lists.
