Ebang (EBON) Stock: Why The Price Increased Today

By Amit Chowdhry ● Feb 15, 2022
  • The stock price of Ebang International Holdings Inc (NASDAQ: EBON) increased by over 3% during intraday trading today. This is why it happened.

The stock price of Ebang International Holdings Inc (NASDAQ: EBON) increased by over 3% during intraday trading today. Investors are responding positively to Ebang announcing the official launch of Ebonex Exchange, the company’s cryptocurrency exchange in Australia, on February 15, 2022. And eligible participants in certain geographical regions will be able to register and trade by visiting the official website on www.ebonex.com.au or by downloading the app from the Apple Store or Google Play store at Ebonex.

The Ebonex Exchange is a digital asset trading platform independently created and developed by the company’s technicians who are senior industry experts. And it is designed to provide global cryptocurrency participants with secure, fast, efficient, and stable trading services in multiple currencies and modes.

The company has launched its Australian operation with the establishment of its Sydney office in 2021. This move is to support the Company’s growth initiative within Australia, as well as to demonstrate the management team’s ambition and determination of creating long-term value in the field of Fintech.

KEY QUOTE:

“We believe that the mature business environment and rigorous regulatory regime in Australia will have a great positive impact on Ebonex Exchange’s prospects. We expect that the cryptocurrency space is poised for significant growth as the market for trusted platforms has grown significantly during the last year. Our objective is to have the Ebonex Exchange become one of the premier markets in the cryptocurrency space and to become a trusted platform for cryptocurrency participants worldwide. The launch of Ebonex Exchange has opened up a whole new market for the Fintech industry and is yet another critical milestone in the Company’s strategic development.”

— Dong Hu, Chairman and Chief Executive Officer of the company

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.