Cryptanite Blockchain Technologies just made a huge announcement, and yet, the stock is down more than 10%. In retrospect, the drop would have been more acceptable had Cryptanite’s announcement been something to worry about—but it wasn’t; the announcement was that the Cryptanite Wallet app is now available in Canada.
Cryptanite Wallet Now Available in Canada
On Wednesday, Cryptanite Blockchain Technologies announced that Canadian crypto customers are now eligible to use the Cryptanite Wallet app. The app is available on both the App Store and Google Play.
The app is quite popular, but if you haven’t heard of it before, that’s fair. Before today, the Cryptanite Wallet was available only in the United States.
But making it available in Canada is a significant step for the Boulder, Colorado-based company. The CEO, John Eagleton, agrees, saying that making the app available in the country “is a huge step forward” in the company’s “ongoing expansion into key markets.”
Okay, But What is the Cryptanite Wallet App?
Known for being both easy to use and secure, investors are able to buy, sell, trade, and manage crypto portfolios through the app, right from their smartphones.
- The app includes four baskets for investors: SIZE, BASE, HODL, and HOOD.
- The app has secure cold storage capabilities.
The Cryptanite Blockchain Stock
According to Yahoo Finance, at 3:39 p.m., Cryptanite Blockchain Technologies (OTCQB:CRBTF) was trading at $0.165, which puts the stock down 12.23%.
It’s not just on the OTC market, either. Around the same time, Cryptanite (CSE:NITE) was down 12.50% on the CSE.
Why do you think the stock is dropping on the news that the Cryptanite Wallet app has been rolled out to Canada? Will the move across the northern border give Cryptanite a competitive edge in the trading apps market?
Let us know what you think below!
Featured Image: Twitter