Market Overview

The Crypto Bump: Wednesday's Biggest Pre-Market Movers Have One Thing In Common

The Crypto Bump: Wednesday's Biggest Pre-Market Movers Have One Thing In Common

Net Element International Inc (NASDAQ: NETE) traded up as much as 310 percent, NXT-ID Inc (NASDAQ: NXTD) 62 percent and Seven Stars Cloud Group Inc (NASDAQ: SSC) 46 percent Wednesday on their respective cryptocurrency news.

Net Element

The fintech company announced the launch of a blockchain-focused business unit to support its electronic payment services in partnership with Bunker Capital. The “decentralized crypto-based ecosystem” is intended to directly connect merchants and consumers engaged in transactions.


The firm’s wholly owned subsidiary, Fit Pay, Inc., announced its extended partnership with Cascade Financial Technology Corp to develop a platform enabling expense of cryptocurrency at global retail sites. Their collaborative product will transfer cryptocurrency value into accepted digital payment forms.

"As cryptocurrencies increase in value and distribution, the need to create new methods to monetize their value and enabling models for acceptance is the critical last mile," Michael Orlando, COO of NXT-ID and President of Fit Pay, Inc., said in a press release. "Our development effort with Cascade seeks to connect cryptocurrencies to the payment ecosystem as a natural extension of FitPay's platform.”

Seven Stars

Seven Stars announced its 27-percent stake in Delaware Board of Trade Holdings, Inc., which claims to be the first and only blockchain-based alternative trading system licensed by the Securities and Exchange Commission.

Now DBOT’s largest shareholder, Seven Stars intends to combine its NextGen X financial technology with DBOT’s infrastructure to support a “plug and play” Initial Exchange Offering network expanding client issuance and trading volume.

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Related Links:

The Bitcoin Regulation Conundrum, Explained

Why The Bitcoin Bubble Is Different From All Other Bubbles


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