KYN Capital Group (OTCMKTS:KYNC) Stock Falls After Recent Development

While it is true that the KYN Capital Group (OTCMKTS:KYNC) had made a significant new announcement on Thursday, it did not lead to any optimism among investors and led to a heavy selloff in the stock. The KYN Capital stock ended up with a decline of as much as 20% as a consequence.

Trading Data

On Thursday, KYNC stock moved down 10% to $0.0009 with 31.94 million shares, compared to volume of 41.43 million shares. The stock moved within a range of $0.0008 – 0.0011 after opening trade at $0.0010.

KYNC Launches Newly Designed Koinfold™ 2.0 Mobile App Now Available for Both iPhone and Android

In such a situation, it may be a good time for investors to work out if the decline is going to continue today or if a quick recovery may be in the offing. The company announced yesterday that after having launched the android app, it had also launched the iOS app so as to provide users with a unique mobile wallet service. Hence, it will now be possible for all mobile phone users to use the app regardless of their operating systems.

The iOS version of the app is loaded with a range of features. Some of the more important features include Direct Messaging, MoonPay Integration, Market assets chart and create token feature among others. Users will be able to trade in some of the leading cryptocurrencies in the market by way of MoonPay. It remains to be seen if the KYN Capital stock can make a comeback today.

Technical Data

KYNC stock is trading below the 20-Day and 50-Day Moving averages of $0.0009 and $0.0011 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0025.