Total
0
Shares
Graph Blockchain (CSE:GBLC) deploys $2 million to purchase altcoins
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Graph Blockchain (GBLC) has purchased C$2 million worth of altcoins through its wholly-owned subsidiary, Babbage Mining
  • The company allocated $1 million into Polkadot's DOT token and $0.5 million into Cardano's ADA token on April 5, 2021
  • Cardano is a proof-of-stake blockchain platform that addresses scalability, interoperability and sustainability in blockchain networks
  • Polkadot enables blockchain networks to work together by stacking other protocols on its base layer
  • The company will provide an announcement about the remaining $0.5 million once it executes the order
  • Graph Blockchain is a development company that provides high-performance blockchain solutions
  • Graph Blockchain (GBLC) is up 13.33 per cent and is currently trading at $0.17 per share

Graph Blockchain (GBLC) has purchased C$2 million worth of altcoins through its wholly-owned subsidiary, Babbage Mining.

The company allocated $1 million into Polkadot's DOT token and $0.5 million into Cardano's ADA token on April 5, 2021.

Cardano is a proof-of-stake blockchain platform created in 2017 by Charles Hoskinson, CEO of IOHK and a cofounder of Ethereum. It was built using peer-reviewed research and the scientific method to address scalability, interoperability and sustainability in blockchain networks.

As of today's date, the ADA token is the 6th largest cryptocurrency by market capitalization sitting at just over $50 billion dollars.

Polkadot was created by Dr. Gavin Wood, a cofounder of Ethereum, to enable blockchain networks to work together by stacking other protocols on its base layer. 

Polkadot gives other protocols a ground work to build specialized solutions with a variety of functions, including interoperability between blockchains.

It is currently the 7th largest cryptocurrency by market capitalization with just over $49 billion dollars.

The company will provide an announcement about the remaining $0.5 million once it executes the order.

Paul Haber, CEO of Graph Blockchain, commented,

"The Babbage team has been closely reviewing different tokens and we are excited to announce these acquisitions today to further deploy the company's capital. As we expand the crypto portfolio, Graph's value-add will include the ability going forward to leverage the crypto acquisitions into building a diversified crypto enterprise within a public company."

Graph Blockchain is a development company that provides high-performance blockchain solutions, including data analysis, consulting services and data implementation.

Graph Blockchain (GBLC) is up 13.33 per cent and is currently trading at $0.17 per share as of 11:03 am ET.

More From The Market Herald
FansUnite Entertainment (CSE:FANS) shares spike on license approvals

" Interactive Games Technologies (CSE:BETS) announces closing of non-brokered private placement

Interactive Games Technologies (BETS) is pleased to announce the closing of a non-brokered private placement.
Featured Video Play Icon

" Tevano (CSE:TEVO) deploys multiple Health Shield devices at Honda dealership in Surrey

Tevano Systems Holdings (TEVO) has completed the deployment of multiple Health Shield devices at Surrey Honda.
blockchain - The Market Herald Canada

" Graph Blockchain (CSE:GBLC) to acquire Beyond the Moon Inc.

Graph Blockchain (GBLC) has entered into a letter of intent to acquire Beyond the Moon Inc., a Crypto Launchpads service provider.
Link Global (CSE:LNK) and Neptune Digital (TSXV:NDA) form company to mine green Bitcoin

" DMG Blockchain (TSXV:DMGI) and Argo Blockchain become founding signatories of Crypto Climate Accord

DMG Blockchain (DMGI) and Argo Blockchain have committed to net-zero emissions from electricity consumption by signing the Crypto Climate Accord.