Life Clips Inc (OTCMKTS:LCLP) has emerged as one of the better known companies in the blockchain and cryptocurrency space in recent times and yesterday it was in the news once again owing to its international activities. While it is true that the stock fell by as much as 10% owing to a rapid selloff, it may be a good idea for investors to take a look at the actual news from yesterday.
Trading Data
On Monday, LCLP stock moved down 10% to $0.0104 with more than 22.53 million shares, compared to its average volume of 23.49 million shares. The stock moved within a range of $0.0100 – 0.0129 after opening trade at $0.0125 .
Life Clips, Inc. Subsidiary Belfrics To Issue University Certificates On Its Blockchain For The Indian State Of Maharashtra
The company announced that Belfrics, its subsidiary company, will be issuing all the certificates at the university level in the State of Maharashtra in India. The certificates are going to be issued through the deployment of the Belfrics blockchain.
It is a significant development for both the company and also for the Indian blockchain industry, considering the fact that Maharashtra is going to be the first state in the country which will use blockchain for educational purposes. However, the announcement did not come as a source of any particular optimism for investors and the stock suffered from a selloff. It is now going to be interesting to see if the Life Clips stock can actually manage to make a recovery any time soon.
Key Quote
Praveen Kumar, Founder & CEO of Belfrics Group, said, “Countries like Singapore, Bahrain, Dubai and Malta have already adopted blockchain when it comes to issuing certificates. Our partnership with MITSC is off to a great start, as we initiate this process in India, as well. Our focus is to not only to increase digitization of educational processes, but to also reduce forging of certificates, which is a serious concern for universities and other educational institutes. MITSC has decided to issue blockchain-based certificates to the universities associated with them and also to universities and other autonomous institutes across Maharashtra.”
Technical Data
LCLP stock is trading above the 20-Day and 50-Day Moving averages of $0.0113 and $0.0141 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0197.
