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 Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term and crypto-asset finance company also experienced an uptick in the volume of its securities traded.
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.
BTC price movements could be behind DigitalX trading boost
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 Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term) 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.
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 Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term and crypto-asset finance company also experienced an uptick in the volume of its securities traded.
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.
BTC price movements could be behind DigitalX trading boost
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 Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term) 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.