Diversified financial technology company Exxe Group Inc (OTCMKTS:AXXA) was on the radars of investors this past Thursday after it made a major announcement and ended the day with gains of as much as 14%.
Trading Data
On Thursday, AXXA stock gained 13.73% to $0.0638 with 21.06 million shares, compared to its average volume of 13.57 million shares. The stock has moved within a range of $0.0510 – 0.0650 after opening trade at $0.0561.
Major Expansion to its 1Myle Crypto Swaps
In this context, it may be a good idea for investors to consider taking a closer look at the announcement. The company announced that it had completed a significant expansion of the 1Myle crypto swaps. However, that is not all. Exxe Group also noted that it is looking to launch non-fungible tokens or NFTs as well as gaming tokens as part of its digital strategy.
It was also pointed out that 1Myle offers transaction in as many as 20 alt coins at this point in time. Exxe Group is looking to generate revenues to the tune of as much as $20 million next year. In addition to that, the company has also added as many as 24 alt coins to its crypto exchange. It was a significant announcement from the company and it was no surprise that investors expressed their optimism about the Exxe stock as well. It is likely that the stock is going to come into focus today.
Key Quote
Dr. Eduard Nazmiev, Exxe Group CEO, commented on the opportunities and roadmaps. “We could not be happier with the very quick additions of some of the most popular altcoins. 1Myle leadership has done a great job in potentially setting the stage for trading activity and revenue that are 20% higher than our original projections. Enhanced security, trading and custody features, plus the addition of merchant services and payment processing appear ready to be big revenue drivers for us next year.”
Technical Data
AXXA stock is above the 20-Day and 50-Day Moving averages of $0.0450 and $0.0314 respectively. Moreover, the stock is above the 200-Day moving average of $0.0394.
