Today, we are going to talk again about Digatrade Financial Corp. (OTCMKTS:DIGAF), the digital-asset bitcoin exchange, blockchain development, and fintech advisory services company.
In our previous articles, we noted that the stock was a “cheap alternative instead of buying bitcoin directly.”
Additionally, we said that the company was going in the right direction by commencing a new Initial Coin Offering “ICO”, and signing agreements with other companies operating in the same industry.
We were not wrong when we said so.
The first good news is that the price of Bitcoin has spiked. In only one month, it has gone from $6,000 to cross $11,000, creating a large amount of expectation in the market. Many market participants have reacted by buying Bitcoin or new ICOs.
We appreciate that the management saw the market opportunity before everybody in the market.
Have a look at the recent reaction in the share price. From trading close to $0.1, it has gone to touch the $0.4 share price level, which means that some market participants were able to make double digit returns.
In this new article, we will explain what’s going on.
On November 2, 2017, the company released an update regarding the previously announced integration of the Ethereum Coin “ETH” onto the Digatrade platform. We appreciate the news, as from now on, the clients will be able to register for the Digafund21 (D21) token release on the already established, safe and secure Digatrade platform. You know how this works; more trading options means more commissions, which will bring more money in the form of revenues.
Do you want to know more about this new ICO?
It is expected that the presale will start in Q1 2018 and will include a crypto-analytics team, development team, regulatory compliance partnerships, white paper, token structure among other items and requirements.
How is it going to be financed?
It was noted in the press release that $320,000 in funding has been received. DIGAF noted that this money will be shown in the interim report that will be filed on both Edgar in the United States and Sedar in Canada on or before November 29, 2017. We encourage readers to be alert, as some market participants may not know about the $320,000 and they may push up the share price.
Additionally, the company noted that it is continuously assessing the regulatory compliance landscape for ICO funding methods to best serve the company and its shareholders. We believe that the company started earlier than other companies, which will help.
On November 15, 2017, the company released the listing addition of Ethereum “ETH” paired to BTC on the trading platform. As we did in the previous announcement, we appreciate it also. We believe that the market did as well. The following tokens may be added soon as well:
- BITCOIN CASH
Additionally, the company noted that it continues to build the brand and developing a safe, secure and easy to use digital-asset (bitcoin) exchange. We appreciate the news and remind readers to be very alert on this company.
That’s not all.
The company seems to be working on public awareness. It was featured on MoneyTV, wherein the CEO discussed the growth and future of Bitcoin and cryptocurrency. We appreciate the news, as the more the brand is known, the better the share price performs. It may not pay off right now but in the long term. Well done!
Share Stats – Low Float Runner
We believe that another reason to understand the recent share price spike is the low float of the company. Have a look at the following statistics:
|Authorized Shares||100,000,000||a/o Aug 28, 2017|
|Outstanding Shares||44,911,150||a/o Aug 28, 2017|
|Held at DTC||Not Available|
|Float||16,364,120||a/o Aug 28, 2017|
Low float increases the volatility in the market, as market orders can move the order book quite a bit. We want to remark this feature, as there are many of our readers, who appreciate volatility plays in the market.
Currently trading with a market cap of $12 million, DIGAF is an exciting story among small caps. With $0.1 million in assets and $0.4 in total liabilities, it seems that the market is discounting large growth in the future. We couldn’t agree more with the market in this case. The Bitcoin industry is growing at a large pace and DIGAF is very well positioned to profit from it.
To sum up, there seems to be a lot to like here. Congrats to those who could pick up an exposure after our previous article!
We will be updating our subscribers as soon as we know more. For the latest updates on DIGAF, sign up below!
Image courtesy of Zach Copley via Flickr
Disclosure: We have no position in DIGAF and have not been compensated for this article.