Fintech Company Hits 52-Week High On Strong Net Inflows Due To Cryptocurrency Interest

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, December 3, 2024

Donald Trump being elected the next U.S. President has lit a fire on almost all asset classes, with investors being in full risk-on mode. While a sense of economic euphoria is in the air, no where is it more prominent than in the cryptocurrency space.

Today, a financial technology company focused primarily on cryptocurrencies announced impressive capital inflows due to this growing investor interest. DeFi Technologies Inc. (OTCQB: DEFTF) announced that its subsidiary, Valour Inc., and Valour Digital Securities Limited, an issuer of exchange traded products (" ETPs ") has reported assets under management (" AUM ") of C$1.3 billion (US $922 Million) as of November 30, 2024. This represents a 57% increase month-over-month and a 155% increase year-to-date.

In November, Valour achieved 2024 a monthly net inflow record totaling C$20.9 million (US $14.9 million). Outside of that, the Company also expanded its digital asset treasury in November, purchasing and holding assets such as Bitcoin, Ethereum, Solana and more. These holdings are valued at approximately C$67.8 million (US $48.4 million), representing a 56% month-over-month increase.

Investors continue to cheer on the company’s fundamental developments, sending shares higher to the tune of 6.51% ($2.865) in mid-morning trading with the stock currently at 52-week highs.

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