ASX Queries Recent Price and Volumes Jump in DigitalX Ltd’s Securities

DigitalX’s securities went from a low of $0.023 on July 20 to an intraday high of $0.03 today.

The Australian Securities Exchange (ASX), the principal stock exchange of the country, has queried a recent change in the price of DigitalX Limited’s (ASX:DCC) securities, as well as the volumes of the company’s securities traded.

In particular, DigitalX’s securities went from a low of $0.023 on Monday the 20th of July to an intraday high of $0.03 as of the 27th of July. During this time period, the Australian-headquartered blockchain and crypto-asset finance company also experienced an uptick in the volume of its securities traded.

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Because of this, the ASX has reached out to the company to see whether it is aware of any information that could have resulted in this price jump that has not been announced to the market and to ensure that the company is complying with the Listing Rules and, in particular, Listing Rule 3.1. 

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In response to ASX’s questions, DigitalX has outlined in an email exchange between the two parties that it is not aware of any information concerning the company that has not been announced to the market, that could explain the recent trading in the company’s securities.

Instead, the company points out that it has continued to execute its previously announced business plan, in which the company has put in significant work to grow its funds under management in each of its Bitcoin Fund and its Digital Assets Fund, as well as continued its consulting work.

“In addition to, and complementing the above, the performance of Bitcoin and other digital assets in recent times has been more stable (compared to historical volatility) and seen steady improvements. The Board notes that historically, it has not been unusual for the Company’s share price to track changes in the Bitcoin price. The Company also continues to hold its Bitcoin and its asset values therefore appreciate together with movements in the price of those assets,” DigitalX said in its email reply to the ASX.

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