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 Graph Blockchain Inc. (CSE: GBLC) (OTC Pink: REGRF) ("Graph" or the "Company") is pleased to announce the Company has seen a significant increase in value of its altcoin portfolio since the acquisition of its first two altcoins on March 10, 2021.
General Altcoin Market Update
The altcoin market has seen incredible growth in the last month. One of the main metrics we look at to assess this space is Bitcoin Dominance, ("BTC.D") which is the ratio of the total market cap of Bitcoin versus the market cap of the entire cryptocurrency market.t. When Graph began two months ago, Bitcoin was approximately 60%. Bitcoin is now 44%, which means that all other coins taken as a whole have increased significantly over that time. Simply indicated, altcoins have outperformed Bitcoin. The Company expects to see this trend continue and is of the belief that we will eventually see an Altcoin achieve a higher market cap than Bitcoin.
The World Economic Forum's Global Future Council on Cryptocurrencies recently published a report that indicates they believe that there is a chance we will see the tokenization of all securities which has tremendous growth implications for altcoins.[1]
Graph Portfolio
The Company recently acquired XTZ as our fourth coin and as a result of a well-timed buy saw our investment increase over 17% on the first day. The best performing investment has been LINK which is up over 45% since we acquired it while ADA is up over 30%. Our investment in DOT has been flat on a per coin price basis.
While our purchase price of DOT is flat, we are very bullish on the prospects for DOT. We expect that announcements around Parachains (protocols which will run on DOT) could be a significant catalyst for price increases. We may even begin to hear something as early as May 19th at Polkadot Decoded, the virtual conference on all things Polkadot.
The Company continues to examine various coins and expect to make additional announcements this quarter as we believe this remains a great time to add to our positions.
The Company is extremely pleased with the progress we have made so far with the appreciation of our portfolio in less than 60 days. The Graph team is knowledgeable, have an incredible perspective on the cryptocurrency market and are focused on growing the value of the portfolio.
About Graph Blockchain Inc.
The Company is a Proof of Stake ("POS") miner that focuses on altcoins, alternative cryptocurrencies to Bitcoin and Ethereum. Graph is the first publicly tradable altcoin miner and generates revenue through exposure to several top digital assets by market capitalization. Graph through its wholly owned subsidiary Babbage Mining Corp., can provide investors with exposure to the vast emerging market of cryptocurrencies with the significant technological disruption and potential gains that altcoins represent.
Additional information on the Company is available at www.graphblockchain.com and www.babbagemining.com.
For further information, please contact:
Jamie Hyland
Phone: 604.442.2425
Email: jamie@graphblockchain.com
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. In some cases, forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking statements. Such statements may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events, or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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[1] Source: Global Future Council on Cryptocurrencies online: Crypto, What Is It Good For? An Overview of Cryptocurrency Use Cases - Accessed May 10, 2021.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83481
