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Life Clips (OTCMKTS:LCLP) Stock Regains Momentum: How To Trade Now?

Jon Williams , , , ,

Cognitive apps software solutions engaged in distributing single-use and cordless batteries for cellphones and other devices, Life Clips (OTCMKTS:LCLP) on July 14, 2021 announced acquisition of global blockchain technology firm running cryptocurrency exchanges, Belfrics Group.

Belfrics, which has presence in Malaysia, Tanzania,India, Singapore, Kenya, Nigeria, and Bahrain, has ability to process over 1 million transactions per second. The company’s CEO, Praveen Kumar, will continue to be in the same capacity while Robert Grinberg will serve as CEO of Life Clips.

Expected to be $8 trillion dollars by 2030, the blockchain technology will be a fraction of the cryptocurrency market adding $176 billion to the US GDP during the same period. Belfrics has 10 operational offices in 8 countries providing personalised support to digital currency traders. Through this initiative, the firm gives training to traders, developers and blockchain enthusiasts in over 20 countries.

Belfrics CEO and Founder, Praveen Kumar said the company’s vision of secured trading platform is allowing it to expand reach of blockchain and crypto platform, creating a global impact.

Belrium, the proprietary blockchain developed by Belfrics, acts the central focal point of the blockchain division.

CEO Robert Grinberg of Life Clips said that the firm’s milestone will be immense value addition for investors. He added that total volume of mergers and acquisitions in the cryptocurrency industry have doubled from $481 million in 2019 to $1.1 billion in 2020.

The acquisition of Belfrics Group will be done in quarter two and the final shares issuable will be subjected to adjustment.

Market Reaction:

As of 12:58, LCLP stock soared 71% at $0.0347 with more than 516.72 million shares, compared to its average volume of 64.86 million shares. The stock has moved within a range of $0.0164 – 0.0407after opening the trade at $0.0220. Over the past 52-week, the stock has been trading within a range of $0.0002 – 0.0619.

Jon Williams

Jon graduated from the University of Michigan with a degree in finance. He is an avid investor and enjoys reporting on the markets. When he is not in front of a computer he enjoys playing golf and watching basketball.