Life Clips Inc (OTCMKTS:LCLP), which has made a big move into the cryptocurrency space this year, has seen its stock take a beating over the course of the past week.
Trading Data
On Wednesday, LCLP stock fell 1% to $0.0189 with more than 22.17 million shares, compared to its average volume of 35.61 million shares. The stock has moved within a range of $0.0182 – 0.0209 after opening trade at $0.0207.
Recent News
During that period, the stock tanked by as much as 13% and now it is going to be interesting to see if it can make a turnaround or not. As it happens, the company was in considerable focus yesterday after it made an announcement with regards to the marketing campaign that has been launched by its cryptocurrency unit Belfrics India.
It was announced yesterday that Belfrics India decided to rope in some of the better known celebrities in India for the purpose of promoting its products. Some of the award winning and well recognised celebrity partners who have agreed to be a part of the campaign include Vikrant Massey, Sargun Mehta, Varun Sharma and Rashi Khanna.
In the campaign, the stars were seen talking about the ease with which cryptocurrencies could be traded on the exchange that belongs to Belfrics India. In addition to that, the stars also spoke about the numerous advanced features that were available in the exchange. Belfrics India is trying to make a big move into a massive market and that can only be an important development for Life Clips.
Key Quote
Praveen Kumar, CEO & Founder of Belfrics Global, said, “Being India’s oldest and most trusted crypto exchange, Belfrics’ motto is to make crypto accessible to everyone in a seamless and transparent manner. With the rapid growth of crypto in India, the #InvestmentMatlabBelfrics campaign aims to bring value to our crypto enthusiasts and potential investors. Also, we are always looking to offer Belfrics’ users a platform where they can trade without worrying and giving them the freedom to trade anywhere and anytime with just a click of a button.”
Technical Data
LCLP stock is trading below the 20-Day and 50-Day Moving averages of $0.0221 and $0.0259 respectively. However, the stock is above 200-Day moving average of $0.0171. The stock is down 24% in the past month.
