DigitalX Limited (ASX:DCC) has updated shareholders that it intends to sell down a portion of its POWR tokens to optimize its current cash requirements.
The company has indicated they will update the market accordingly post the sale of POWR tokens.
DigitalX was awarded the tokens after it helped blockchain energy trading company Power Ledger launch and complete Australia’s first major Initial Coin Offering, or ICO.
The ICO saw Power Ledger sell over $34 million worth of POWR tokens, of which DigitalX netted 4.5 million tokens valued at 11.5 cents.
Having traded as high as 30 cents on digital currency exchanges, POWR tokens are currently trading over 20 cents.
Shares in DigitalX (ASX:DCC) are trading 8.33 per cent lower at $0.22