Latest with Cryptocurrency and Tech stock ASX: DCC

  • Jul 18, 2018 AEST
  • Team Kalkine
Latest with Cryptocurrency and Tech stock ASX: DCC

Crypto currencies are digital currencies which are used to buy and sell things online, through an open source code with no controlling body, allowing the price to fluctuate based on supply and demand scenario. In this parlance, Bitcoin cryptocurrency is generally used for transactions under sectors such as mining, based on a technology known as blockchain. A recent hack of major south Korean exchange as well as a new study which shows that the 2017 highs were inflated were eventually followed by the most valuable cryptocurrency fall below $6,000 and this led cryptocurrency price move in a different direction. The volatile cryptocurrency’s price has shifted from a mid-December high of more than $19,850 to as low as $6,000 in June 2018, this is besides the looming prospect of regulation by governments and central banks across the world.

Even google has raised hands by announcing the ban on cryptocurrency advertising from its various pages, which was also a major blow to the digital currency. It appears that Bitcoin has been experiencing a classic financial bubble which many experts believed to have burst anytime, and the persisting scenario may be the case when the currency is under pressure while it has been seen as an investment by some as on an overall basis it has surged almost 2,500% in the past two years.

In the past four months, the cryptocurrency was seen dropping by more than 20% and risks have been on an upscale while defensive appeal was made to look limited. Nonetheless, the technology behind the cryptocurrency is still something that has resilient features. Given this, a very few ASX-listed shares are under the radar of many investors.

One such information technology stock worth discussing in context of the article is DigitalX Limited (ASX: DCC) that has a total cash of US$ 5.3 million and digital assets trading on exchanges of approximately US$5 million as at Quarter ending March 31, 2018. DigitalX has been appointed as corporate advisors to multiple ICO’s in major global markets. For instance, DigitalX is appointed by Bitfinex as a Crypto asset listing advisor. To launch a new crypto business, news website and online Blockchain education platform coin.org, it has entered into a Joint venture with digital media company Multiplier. The two websites launched are Coin.org as stated above and Multipliercrypto.com. Post the quarter end, DigitalX has also secured mandates for many ICOs.

DigitalX traded at a market price of $0.150 (up 20%) on market open on July 18, 2018 and has also seen a daily price change of $0.033 and a percentage change or a rise of 35.87% as at July 17, 2018. The stock has seen a performance change or a rise of a staggering 331% over the past 12 months with a 60% fall in six months. The stock has a price to earnings ratio of 6.300 and earnings per share of 0.015 AUD. The stock price of ASX:DCC has been volatile and moved on the basis of crypto movement. It is one of the blockchain based software solutions companies trying to disrupting the payments industry and its products/platforms allow money transfers worldwide.

It is worth noting that the latest push in crypto driven assets is coming at the back of launch of a crypto ETF by BlackRock planned for near future. As a result, Bitcoin (BTC) moved up 10% to US$7346.30 per coin in a day (as per reports of July 18, 2018) alone with other cryptocurrencies such as Ripple (XRP) also seeing a price rise (XRP price gain of over 9.5%). Bitcoin now has a market capitalisation of over US$126 billion. This positive momentum seems to be lifting the price of ASX:DCC. Not to forget the risks, the stock is a key to watch.

[pluginops_form template_id='23834' ]  

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK