It was a fairly good day for investors in KYN Capital Group (OTCMKTS:KYNC) last Friday as the stock ended up as one of the more notable movers and clocked gains of as much as 14% for the day.
Trading Data
On Friday, KYNC stock surged 14.29% to $0.0016 with 104.03 million shares, compared to volume of 60.35 million shares. The stock moved within a range of $0.0015 – 0.0021 after opening trade at $0.0016.
KYN Capital Group Partners with MoonPay; Submits Koinfold™ Pay 2.0 App to Google Play Store
The gains made by the stock may have been related to the announcement made by the company last Thursday. The company came into the news cycle on Thursday after it announced that its payment solutions Koinfold Pay 2.0 had managed to strike a partnership with the company MoonPay. MoonPay is one of the leading web3 infrastructure companies at this point.
As per the provisions of the partnership, Koinfold Pay 2.0 is going to be responsible for providing a gateway to users who may be interested in buying cryptocurrencies securely through most of the well-known payment methods. It goes without saying that the development could well prove to be a significant one for the company in the long run and hence, the optimism among investors was perhaps understandable.
MoonPay has a presence in as many as 160 nations currently and currently boasts of as many as 450 partners. Some of the leading wallets, applications, and websites are among its partners.
Key Quote
“We are so excited for our users to use Koinfold Pay 2.0. Because we are partnering with MoonPay, the #1 secure Crypto platform, our users can enjoy depositing funds directly to their connected wallets. This is just the beginning of features being developed within our wallet,” states KYN Capital Group CEO Rick Wilson. By partnering with MoonPay, the Koinfold Pay wallet will provide buying, selling and exclusive exchange features directly, safely enabling direct-to-custody trades with transparent pricing.
Technical Data
KYNC stock is trading above the 20-Day and 50-Day Moving averages of $0.0013 and $0.0012 respectively. However, the stock is trading below the 200-Day moving average of $0.0035. The company has a total market capitalization of $7.31 million.
