Graph Blockchain Places Further $2.0 Million Into Altcoins For Proof Of Stake
Graph Blockchain (CSE: GBLC) this morning issued a brief news release, indicating that it has taken further steps to improve its staking in altcoins. The firm has placed an additional $2.0 million into such alternative digital currencies.
The $2.0 million figure was split between three separate currencies. First and foremost, the firm has placed an additional $1.0 million into Polkadot, which is more commonly known as DOT. A further $500,000 meanwhile was placed into Cardano, or ADA, as of yesterday to increase the firms position for the purpose of proof of staking.
The remaining $500,000 meanwhile appears to be in the process of being placed into a separate token that the firm currently does not have a position in, with further details to be provided in the coming days. “The Babbage team has been closely reviewing different tokens and we are excited to announce these acquisitions today to further deploy the Company’s capital,” commented CEO Paul Haber. The firm is currently focused on a strategy of diversified crypto holdings.
Graph Blockchain last traded at $0.15 on the CSE.
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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
