Blockchain Stocks That Are Up Nearly 50% This Week
By: Investing Divas
Tags: Technology, Blockchain, News, Investing, Bitcoin

Last year, the global cryptocurrency market was valued over $540 million and it is estimated to hit $2.9 billion by 2023, at a compounded annual growth rate of 32.31%, according to a Research and Markets report. For some, it is easy to forget that these figures include all aspects of the cryptocurrency market, not just the more popular digital assets.

Over the last week, the price of bitcoin (BTC) has surged over 17% which has resulted in most chip makers and blockchain stock share prices to follow suit. Investors continue to be drawn into the space and it’s not only for the coins anymore, many are now being lured in from the fundamental technology behind them.

10 Chip Makers to Add To Your Watch-List:

Applied Materials, Inc. (AMAT) Advanced Micro Devices, Imc. (AMD) Intel Corp. (INTC) KLA-Tencor Corp. (KLAC) Lam Research Corp. (LRCX) Microchip Technology Inc. (MCHP) Micron Technology (MU) NVIDIA Corp. (NVDA) NXP Semiconductors N.V (NXPI) QUALCOMM Inc. (QCOM)

While chip makers may have to potential to generate opportunity to investors, some may be turned away due to their high share prices. Here are some lower priced stocks to consider getting into the technology in the crypto space.

Block One Capital (BKPPF) (BLOK.V)

Market Cap: $22.01M

Block One is an investment company focused on high growth opportunities in the blockchain sector. Block One’s current investments are diverse which may potentially produce great opportunity for its investors. Two of its holdings are in the financial space:

Affirmative Technology Group, the developer of decentralized anti-money laundering, know your customer and Accredited Investor solutions and; Finzat, which is creating a blockchain system to streamline and digitize the U.S residential mortgage process.

Block One’s other investments include Cuipo, which through a patented virtual grid and tokenization method is creating tech to protect endangered land in both Central and South America. In addition, the company made a $750,000 investment into the Shopin ICO with a 66% bonus, as well as gaining 8.9 million shares of HashChain Technology (HSSHF) from the sale of 90% interest in its TG12 Ventures Inc. (A bitcoin mining company) investment. Since Monday’s open, this blockchain stock’s share price has increased nearly 50%

Riot Blockchain Inc. (RIOT)

Market Cap: $81.05M

Riot Blockchain focuses on building, supporting and operating blockchain technologies as well as cryptocurrency mining, primarily bitcoin (BTC). At the end of June, RIOT had over 6,200 miners operating producing 348 bitcoins and 318 Litecoins (LTC) in Q2 and now has about 8,000 miners currently deployed.

RIOT’s investments include: cryptocurrency accounting firm Verady, which provides cryptocurrency accounting and audit technology for financial institutions though VeraNet, the Canadian cryptocurrency exchange Coinsquare and TessPay, a blockchain-based escrow service for wholesale telecom carriers that guarantees payment in full and on time. This blockchains stock has seen gains over 40% since Monday’s opening bell.

Marathon Patent Group (MARA)

Market Cap: 24.28M

Marathon focuses on acquiring patents. Marathon came into the space in 2017, with its planned acquisition of Global Bit Ventures which generated new business in the blockchain ecosystem and mining. Marathon has acquired four patents related to the transmission and exchange of cryptocurrencies between buyers and sellers.

As of March, the company’s Quebec facility has begun mining bitcoin with the capability to mine other digital currencies but as of June 28, 2018 the extension for the closing of the GBV merger has expired and Marthon does not wish to extend it. Even so, this blockchain stock has seen an increase of almost 50% percent since Monday’s open.

Focus for Investors

August is an important month for cryptocurrency and blockchain investors, as the Securities & Exchange Commission (SEC) is scheduled to decide on the CBOE ETF proposal. If the SEC approves the proposal, this would be an historic milestone for the space with the start of institutional investment; a complete game changer.

With the price of bitcoin and other digital assets driving up the share prices of these blockchain stocks, now may present another early opportunity to investors before a second round of possible surges in the market. The companies’ share prices mentioned above are relatively inexpensive compared to previous levels seen earlier this year, and with the industry forecasted to significantly grow over the next few years, it could leave considerable room to profit.