On Tuesday, the KYN Capital Group Inc (OTCMKTS:KYNC) was in considerable focus among investors and its stock ended up as one of the major gainers as it ended the day with gains of as much as 18%.
Trading Data
On Tuesday, KYNC stock soared 17.78% to $0.0053 with more than 299.82 million shares traded, compared to its average volume of 73.85 million shares. The stock moved within a range of $0.0052 – 0.0067 after opening trading at $0.0061.
KYN Capital Group Closes Definitive Deal with Asia Broadband to Implement the AABB Wallet
The rally in the stock came about after the company announced that it had accepted and executed a deal that had been in the works with the firm Asia Broadband Inc (OTCMKTS:AABB). As per the provisions of the deal, the AABB Wallet is going to be integrated as the main cryptocurrency exchange in the Pay How Super App.
It should be noted that it had also emerged yesterday that it was one of the biggest deals that had been signed by KYN Capital Group. In addition to that, it was among the first few deals in the cryptocurrency space that had been signed by the company.
Considering the potential growth in the cryptocurrency industry in the coming years, it is perhaps no surprise that investors got excited with regards to the deal and piled on to the KYN Capital Group stock in a big way on Tuesday. It now remains to be seen if the stock can manage to add to its gains in the coming days.
Key Quote
“We are extremely excited about our partnership deal closing with Asia Broadband and what it means for KYN Capital Group,” states Rick Wilson, CEO of KYN Capital Group.
Technical Data
KYNC stock is trading below the 20-Day and 50-Day Moving averages of $0.0059 and $0.0064 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0114.
