Cryptocurrency, digital assets and blockchain technology company Net Savings Link Inc (OTCMKTS:NSAV) may be one of the more prominent names in the industry but its stock was in doldrums yesterday. Amidst a selloff from investors, the stock tanked hard and ended the day with a decline of as much as 14%.
Trading Data
On Monday, NSAV stock moved down 14.16% to $0.0182 with more than 64.51 million shares, compared to its average volume of 31.71 million shares. The stock has moved within a range of $0.0160 – 0.0210 after opening trade at $0.0210.
NSAV Announces Tokenomics For Its Groundbreaking Metaverse Sst Token For Metafi (MNCN), Expands Presence In Gamefi Market
Although it cannot be denied that the decline in the Net Savings stock was substantial, it should also be noted that the company did make a major announcement yesterday that one ought to look into. Yesterday, the company was in focus after it provided an update with regards to the ‘tokenomics’ of its innovative Metaverse Share Swap Token named MNCN.
In this context, it ought to be noted that the token had been created by Net Savings Link in a 50-50 partnership with the company Metaverse Network LLC. At the founder’s pool allotment, Net Savings Link is going to be awarded as much as 7.5% of the total tokens. Although it was a major announcement, it was something that did not quite excite the investors as such and the stock tanked as investors headed for the exits. It now remains to be seen if the stock can manage to make a comeback today.
Key Quote
W. Y. Cheung, CEO of MNC stated, “We are thrilled to be able to announce the launch of the private sale of our pioneer Metaverse SST token in the next eight business days. Once again, the NSAV team has come through with a quality product in a timely manner. We are very impressed with the advanced technical ability of the NSAV team and we are truly intrigued about the design of this Metaverse Shares Swap Token structure for MetaFi SST ecology.”
Technical Data
NSAV stock is trading below the 20-Day and 50-Day Moving averages of $0.0231 and $0.0277 respectively. However, the stock is trading below the 200-Day moving average of $0.0289. The stock is down 32% in the past month.
