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.

FULL DISCLOSURE: Graph Blockchain is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Graph Blockchain on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

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