Digatrade Financial Corp (OTCMKTS:DIGAF) Delivers Big Gains

Do you remember the way we talked recently about Digatrade Financial Corp (OTCMKTS:DIGAF)?We said that the stock was a “cheap alternative instead of buying bitcoin directly”. Also, we appreciated that the company had commenced to organize an Initial Coin Offering “ICO.”We believe that we were not wrong in saying so.What's going on?The share price has continued its upward trend following the increase in the Bitcoin price. From trading close to $0.2 in November, it spiked up to hit the one year highs of $1.0. The share price move represents astonishing returns, even in the OTC universe. The readers who were able to read our previous coverage should have appreciated our work.Additionally, we appreciated that the volume accompanied the share price appreciation. More than 3 million shares changed hands some days, which, in our opinion, shows that many market participants became interested in the stock. This is a great news.Have a look at the following stock chart before we explain the reasons that justify these stock returns:

1 year chart for DIGAFLet's revisit rapidly the company for those who are getting to know DIGAF right now. Digatrade Financial Corp is a blockchain development and advisory services company. More specifically, the company provides an easy, secure, and affordable platform for buying and selling Bitcoin and other digital assets 24/7 online. The head office is in Vancouver, British Columbia, Canada.Recent Developments On November 28, 2017, the company released its new Q3 2017 financial statements. The following is the state of the balance sheet as of September 30, 2017.Please note the amount of cash on the balance sheet; it is the most significant to be checked out in recently created businesses:

Q3 2017 Financials for Digatrade Financial Corp OTCMKTS:DIGAFAdditionally, we could read in the report that the weighted average amount of shares is equal to 43,777,782.We believe that the most significant in this company is its business model. If the company is able to grow at the pace that the Bitcoin does, the share price should increase. Hence, we will focus only on the news related to the business operations and the cryptocurrency sector.On December 5, 2017, FinancialBuzz.com released information about the global developments in the industry and the company was featured. It was said that DIGAF had announced the listing addition of Ethereum 'ETH' paired to BTC on the trading platform, which we had mentioned in our coverage.Additionally, it was noted that DIGAF was evaluating security systems to include DASH, EOS, BITCOIN CASH, TETHER, MONERO, MERCURY, ZCASH, NEO among others. We appreciated the article, as more people will get to know the company via such articles.On December 6, 2017, the company was featured again in another publication released by MarketNewsUpdates.com. We believe that the fact that the company has been mentioned in many specialised reports is a good news, as it shows that the company is well-known by its industry peers.The most interesting in this new report was the following stats about the future of the blockchain technology.

"The business value-add of blockchain is expected to grow to more than $176 billion by 2025, and to exceed $3.1 trillion by 2030, according to Gartner." Source

Additionally, it was noted that the new systems will help the financial industry redesign costly legacy workflows, improve liquidity and free up capital. Additionally, it was also said that it will contribute to reduce infrastructure costs, increase transparency, reduce fraud and improve execution and settlement times. We believe that these are very ambitious objectives, but if they are achieved, coupled with the growth of the cryptocurrency market, DIGAF will benefit.Market participants seem to be acquiring stakes in the companyOn November 29, 2017, the company released information about a market participant who had acquired $400,000 in convertible debt. The following text is what you need to know:

"DIGAF announced the issuance of a seven month 10% Fixed Convertible Promissory Note (the “Note”) with a total face value of US$400,000 to an institutional investor (the “Holder”). The initial consideration of US$153,450 was funded on November 27, 2017." Source

ConclusionCurrently trading with a market cap of $30 million, DIGAF is an exciting story among small caps. As mentioned in previous reports, the volatility in the share price has spiked up, which does not surprise us. This is a low float runner. There are 44,911,150 shares outstanding and only a float of 16,364,120, which explains the behavior of the share price. The readers who appreciate volatility plays in the market should have this name on their radar.To sum up, keep following the stock and congratulations to those readers who got in on the back of our previous articles on this company.Be sure to check out our coverage on DIGAF!We will be updating our subscribers as soon as we know more. For the latest updates on DIGAF, sign up below!Disclosure: We have no position in DIGAF and have not been compensated for this article.Image courtesy of GotCredit via Flickr