Blockchain penny stocks are seeing downward trending movement today, as the cryptocurrency market continues its decline as well.
There isn’t a direct correlation with blockchain stock movement and cryptocurrency market movement, but one could guess if individuals are losing confidence in cryptocurrencies, they are probably losing confidence in its underlying technology and vice versa.
Let’s take a look at two blockchain penny stocks and their latest company news and stock movement.
Blockchain Penny Stocks: August 21st, 2018
eXeBlock Technology Corporation (CSE:XBLK)
This morning, it was announced that 1040433 B.C. Ltd will be acquiring eXeBlock Technology Corporation. The letter of intent was dated back on August 16th, 2017, and the acquisition will be an exchange of securities with all of the security holders of eXeBlock Technology Corp.
1040433 will acquire all of the issued securities of eXeBlock. The British Columbia company does not currently have any ongoing operations. It also doesn’t hold any material assets other than cash.
eXeBlock plans to complete an initial listing on the Canadian Securities Exchange (CSE), pending regulatory and Exchange approval. eXeBlock Technology Corporation stock immediately dropped after the acquisition press release was sent out.
The release clarifies:
“eXeBlock will release proof of concept and white papers outlining the operating parameters of the first DAPP by the end of the calendar year, and the second in the first half of next year. Specifics relating to the DAPP’s purpose, market potential and operating protocols will remain confidential until the white paper release date.”
According to Yahoo Finance, XBLK is currently trading at $0.085 a share, down $0.010 (-10.53%).
360 Blockchain Inc. (CSE:CODE)
360 blockchain is also seeing downward movement on the market today, but there hasn’t been a new announcement on the company in weeks. Like 1040433, 360 is also based in British Columbia.
Nearly a month ago, 360 Blockchain added two website acquisitions to its portfolio.
According to Yahoo Finance, CODE is currently trading at $0.055 a share, down -$0.005 (-8.33%).
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