Axis Technologies Group Inc (OTCMKTS:AXTG) Stock Rockets 170% In a Week: But Why?

The decentralised finance space has quickly emerged as one of the more fast growing niches in the larger cryptocurrency sector and it is no surprise that investors are now increasingly looking for options in the sector. One of the companies that investors could consider looking into this week is Axis Technologies Group Inc (OTCMKTS:AXTG).

Over the course of the past week, the Axis Technologies stock has emerged as a major mover and has clocked gains of as much as 170% amidst heavy interest. Yesterday, the company was in the news again after it announced that it moved its corporate headquarters to Brentwood in the state of California.

In this regard, it is perhaps important to note that Brentwood is regarded as one of the richest areas in the state of California. The company has been in focus after it launched its NFT platform ETHFUND not too long ago and the latest move is geared towards its NFT business only. Yesterday, Axis Technologies noted that its move to California is aimed at attracting the most technically sophisticated and enthusiastic NFT creators to its platform. Considering the reputation of California as a tech hub, the move is perhaps the right one.

Market Action

On Wednesday, AXTG stock continued to move up and gained over 9% to close at $0.12. Total volume for the session stood at 27.32 shares traded hands, 7X its average volume of 4.04 million shares.

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