The crypto sector experienced considerable volatility over the weekend and this morning many stocks from the sector could find traction. One of those could be the Grayscale Decentralized Finance (DeFi) Fund LLC (OTC:DEFG) stock. As it happens, the company, made a key new announced last Friday and it could be a good time to keep an eye on it.
The Announcement
On January 31 the company announced that it had set up and launched the Grayscale DOGE Trust. Thanks to that trust, it would be possible for the company to provide investors with a vehicle by way of which they could get exposure to the native cryptocurrency token of the Dogecoin network DOGE. Dogecoin is a peer to peer open source cryptocurrency that had been derived from Litecoin and the latter, in turn, had originated from Bitcoin.
Further Information
In the news release, Grayscale Decentralized Finance (DeFi) Fund announced that it believed that DOGE could eventually turn into the global financial landscape. It was also noted that the coin had also made considerable progress from the days when it was merely a meme coin. It may be a good idea for investors to consider adding the stock to their watch lists.
