Wellfield Technologies (WFLD.V) is a company focused on decentralized finance (DeFi) by building open and accessible decentralized protocols and blockchain-based consumer products.
Back on February 23, 2022, I covered Wellfield’s technology and recent news. On the chart, stocks were heading back towards the major support zones … at the level described in this article. For headlines, we covered news such as another appointment (Marshall M. Ball), expanding the engineering development capabilities of the seamless brand with a new Portuguese hub (seamless details below), and Money Clip, a subsidiary participating in Paytechs in Canada. .. , An association of FinTech leaders from Canada.
The latest news has to do with Wellfield signing a final agreement to acquire New BitVentures Coinmama. Coinmama was founded in 2013 and has achieved remarkable growth. Coinmama generated approximately Annual sales of US $ 130 million in 2021Has over 3.5 million registered users.
“We have continued Coinmama’s pioneering journey as an early blockchain business for some time. Nearly a decade of success in this area and proven regulatory and operational expertise are of great value to Wellfield. We are confident that this transaction will bring significant synergies to us. Following the transaction, Wellfield’s mission is to extend the next generation of financial applications that leverage blockchain technology. Has all the attributes needed to achieve. Verifiable and safe qualifications, Established regulatory and banking infrastructure, and scalable consumers facing DeFi applications. “Wellfield CEO Levy Cohen said.
Coinmama integrates Wellfield’s seamless brand DeFi protocol into its current platform. This will allow Coinmama to monetize more than 3.5 million registered users from a single offering, a transaction-oriented model, to a multi-product recurring revenue business that leverages the DeFi protocol and self-management. Will be strengthened.
Wellfield’s MoneyClip branded DeFi app integrates Coinmama’s regulatory, banking and operational infrastructure. Significantly less capital investment..
Wellfield has issued all of Coin Mama’s issued and issued securities. US $ 3,000,000 Pay in cash and issue 22,988,467 common shares in the Wellfield capital.
The advantages of this transaction are:
- Enables rapid launch of large DeFi products and services
- Opportunity to significantly enhance Coinmama’s user base monetization
- Coinmama’s website generates millions of unique visitors each year, which offers great opportunities for user conversions and expansion.
- Established infrastructure to drive growth within Canada Efficient future expansion
- Add experienced teams to manage growth
When it comes to inventory, I have to say that it is sometimes unstable. Since December 2021, stock prices have reached a high of $ 2.19 and a low of $ 1.10. There are many days when inventory has moved more than 5%. Pay attention to the volume. I think it’s pretty consistent, but lately there are less than average daily doses.
In addition to record highs and lows as support and resistance, I have drawn in two zones, $ 1.40 and $ 1.70. As evidenced by the candle core and body, we have seen the stock react several times at these levels.
Prices have fallen below 1.70 and have begun to range in the range of about $ 1.40. Note the small range from $ 1.40 to $ 1.45 that has been in stock in the last few days. It believes that $ 1.40 acts as a fairly strong support zone and has the potential for a reversal. The trigger is a break over $ 1.45. If we fail and fall below $ 1.40, we are looking to return to the major support zone at $ 1.15. Here, stock prices have bounced three times in their history.
Coinmama’s transaction is a huge transaction that will bring a business with revenue of US $ 130 million and will also enable the rapid launch of Wellfield’s Seamless in 2022. This year is a big year for the company and shareholders expect it to be big.
Finally, decentralized finance is still in its infancy. I personally see Jack Dorsey and Square (now renamed Brock) looking for decentralized finance, a big catalyst for Citizens Banking.