Descrypto Holdings Inc. (OTCMKTS:WTCG), which had previously been known as W Technologies Inc, saw its stock come into considerable focus among investors yesterday. The stock ended the day with gains of as much as 8% and it is likely that the stock is going to come into focus among investors today as well.
Trading Data
On Wednesday, WTCG stock went up 7.60% to $0.85 with more than 2.2k shares, compared to its average volume of 2.4k shares. The stock has moved within a range of $0.7000 – 0.8500 after opening trade at $0.85.
Announces L.O.I. to Acquire Crypto Infrastructure & Marketing Company Areca Financial Services. Inc.
Yesterday, the company was actually in the news after it announced that it had inked a non-binding letter of intent with regards to the acquisition of the Miami, Florida based company Areca Financial Services. In this context, it may be a good idea to take a closer look at Areca and its operations.
First and foremost, Areca is a privately owned entity and operates a single connection orchestrating platform that is meant for making financial transactions safer and faster. In addition to that, it is a platform that also helps digital asset firms to launch new range of digital assets into the market in a reliable manner.
Hence, it is an acquisition which could eventually prove to be a game changing one for Descrypto Holdings and the rally in the stock was perhaps understandable. It may be a good move to keep an eye on the price action in this stock today.
Technical Data
WTCG stock is trading above the 20-Day and 50-Day Moving averages of $0.7725 and $0.8245 respectively. However, the stock is trading below the 200-Day moving average of $0.8895.
