Exxe Group Inc (OTCMKTS:AXXA) Stock Pulls Back a Bit From The Recent High
Exxe Group Inc (OTCMKTS:AXXA) stock is pulling back abut after the monster rally in the past few weeks. The stock has soared over 60% in the past month.
Market Action
As of 10:35, AXXA stock slid 11% to $0.0302. A total of 1.10 million shares traded for the session hands, above its average volume of .16 million shares. The stock opened at $0.0335 and moved in a range of $0.0301 – 0.0351.
Key Trigger
Exxe Announces $20 Million Revenue Target For its 1Myle Crypto Exchange
Exxe Group Inc announced it has completed major upgrades and enhancements to its crypto-currency exchange 1Myle resulting in a forecasted revenue of $20 Million for the next 12-month period.
The upgrades and enhancements centered on:
Increasing scalability,Introducing key AI software trading integration,Improving customer portals andInternal and external marketing tools.
One of the key catalysts that prompted these strategic upgrades was the execution of a relationship with a leading currency exchange network that boasts over 6 million monthly unique visitors. Thus, management is confident that 1Myle will generate meaningful customer and transaction growth. 1Myle expects customer growth from this marketplace and other marketing campaigns to generate $20 Million in revenue from 1Myle over the next 12 months.
Upgrades and Changes – 1Myle, a UK-based Europe-focused crypto portfolio management entity offering what it believes is a superior portfolio and risk management solution for Crypto-Fiat exchange operations, leverages decades of experience in automated order management, portfolio management, and risk management.
Given the unprecedented retail and institutional interest in cryptocurrencies around the world, management recognized that 1Myle had an opportunity to create meaningful scale and growth in terms of bandwidth and overall exchange-related capabilities. As a result, the bulk of the recent upgrades and changes were largely related to infrastructure and trading.
Upgrades included functional modules such as enhanced KYC, automated order management, along with pre and post-trade analytics, which monitors and measures digital asset momentum potential and related performance management, among other features.
Key Quote:
Eduard Nazmiev, CEO and President of Exxe Group commented “We are very excited to provide this operational update on 1Myle, which has made tremendous progress in ensuring scalability, growth, and profitability in one of fintech’s most important sectors. By spending these past few months on the upgrades, testing, and integration, we believe we can grow revenue at a higher rate than when we originally announced our relationship with 1Myle. We are now targeting $20M in revenue in the next 12 months and that figure could be higher. The revenue would rise if our penetration of the 6M monthly visitor marketplace grows quickly, or 1Myle increases revenue per customer in conjunction with new offerings and newly available cryptocurrencies on the platform.”
