There’s never a dull moment in crypto, and this week has been no exception. The mighty Smarter Web Company (#SWC) has made a a big move today, ending the day 18.37% up, beaten only by Tokenised asset play Valereum PLC (#VLRM). As always the pendulum has swung in the opposite direction for the losers of the day Vault Ventures PLC (#VULT) dropped a staggering 26.67%, with Tap Global PLC (#TAP) having an equally bad day as it stock plummeted 20.17%. Crypto Stocks are certainly not for the feint hearted and this week has not let us down so far.
Vault Ventures PLC released two RNS’s Today, a successful fundraise adding £1m to the balance sheet, completed at 0.02p/share, which will likely explain the drop in share price. The second and arguably the more interesting of the two is the purchase of 810.10 SOL – an interesting move, having previously added ETH to its treasury. This certainly differentiates VULT from the rest of the treasury crowd and it would appear that they are following in KR1’s lead – I would expect news that the tokens have been staked and will be generating income shortly. Although not the case in this bull-run so far, ALT coins typically make far greater moves than BTC, so this could turn out to be a shrewd move from the board as the wider crypto market comes to life, likely towards the end of this year.
Tap Global PLC has no apparent reason for a drop, although a leaky ship often takes on water, and it’s pretty likely that an RNS will land in the morning for the UK-based crypto exchange. Rumours have been circulating since the previous placing back in February this year, suggesting that the institutional investors who took a position held back further funding until TAP was listed on AIM. Low and behold just last week Tap Global PLC listed on AIM and here we are just a few trading days later with a significant drop, for no known reason, ill let you be the judge of whats going on here.
Smarter Web Company see a decent-sized move north today, and going by the flurry of RNS’s, it’s quite apparent why the sudden move. It would appear that the seller is out, as they no doubt would have been saying on “X” this afternoon, and they would be correct LRC Special Opportunities LLC, which held a sizeable investment in the company, have trimmed the fat, so to speak and have considerably reduced its position – maybe they now consider SWC overvalued and are looking for opportunities else where? There could be a lesson there for the retail horde, follow the money as they say.
Regarding Valereum PLC, again, there’s no obvious reason for the sudden turnaround in share price. It’s possible that the stock has finally bottomed, or it could be, as is often the case with small-cap stocks, another instance of a leaky ship. Those that follow the stock will know that Valereum holds a sizeable position in Bitcoin miner and treasury stock Vinanz (#BTC) and there has been a seller in the background the past few days, maybe its VLRM taking some profit, therefore circumnavigating the need to raise funds and dilute shareholders. I say this hypothetically, however it would be a good day for shareholders if this is the case, given the disappointment at the collapse of the most recent funding deal.
That concludes this mid-week round-up, ill be back on Friday with an end of the trading week report. If you enjoyed this blog, please like and share it on all your usual social media platforms to help us reach the wider UK investor base.
Disclaimer – All figures are rounded and taken at a snapshot in time, both BTC and SWC shares are highly volatile, so figures will unlikely be correct at the time of posting. This is not investment advice; crypto stocks are highly volatile and can move fast in both directions. Always do your own research. I am currently invested in KR1 and Tap Global PLC.
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