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The cryptocurrency market has rebounded over 30 per cent in the last two weeks. As a result, crypto and blockchain stocks too are witnessed a mini rally. Canadian crypto mining companies have also increased their blockchain-powered tokens extraction capacity.
The rising adoption of crypto tokens among fintech firms has boosted decentralized technology stocks this year.
Here are 10 hot crypto and blockchain stocks to explore in August:
1. Hive Blockchain Technologies Ltd. (TSXV:HIVE)
The blockchain firm is trading at C$ 3.25 apiece. It has delivered almost 19 per cent returns in the last one week.
The tech stock has skyrocketed by 591 per cent in one year. It is up 36 per cent year-to-date (YTD), rising in line with Bitcoin, which has risen 33 per cent this year.
HIVE Blockchain cracks alphanumeric codes to generate valid ledger codes for Bitcoin and Ether through its crypto mining equipment like graphic processing units (GPUs) and application-specific integrated circuits (ASIC).
It has also improved its data centers’ mining speed by installing more ASIC and GPUs. It acquired 4,000 miners in the last month. It aims to generate C$ 200 million in income annually from Bitcoin and Ether mining.
2. CryptoStar Corp (TSXV:CSTR)
The crypto mining firm has a current stock price of C$ 0.145 apiece. On July 28, the company signed Crypto Climate Accord to adhere “proof of work” model by running its data center through sustainable energy.
The crypto stock has added 16 per cent growth in the past one week. Its one-year returns are 190 per cent, led by improving hashrate.
The decentralized technology stock is up 21 per cent YTD. At its previous price, the stock entered the bullish zone by breaching its 30-day simple moving average (SMA).
3. Voyager Digital Ltd. (CSE:VYGR)
The crypto brokerage firm has registered a 1,607 per cent in equity, led by rising trading volume in virtual tokens. Voyager offers tokens like BTC, Ether, stablecoins, and other cryptocurrencies.
Its stock has pumped up over 238 per cent this year. It has a current stock price of C$ 16.90 apiece.
The crypto trading platform posted an extraordinary rise in revenue by 16 times to US$ 60.4 million in the first quarter of 2021, propelled by the demand for crypto tokens among millennial and GenZ Canadians.
4. Galaxy Digital Holdings Ltd. (TSX:GLXY)
The asset management firm is heavily infusing its capital into digital currency. It owns a crypto brokerage segment.
The digital asset stock is currently at C$ 20.81 apiece. It has swelled by more than 11 per cent in the past one week.
Stocks of Galaxy Digital have soared by 617 per cent in one year. It has grown by 91 per cent YTD, up three times against BTC.
The company has recently been concentrating on its mining business. In early July, the firm announced that it seeks to follow ESG (Environmental, Social, and Governance) practice at its data centers.
Sustainable crypto mining (Copyright © 2021 Kalkine Media)
5. Neptune Digital Assets Corp. (TSXV:NDA)
The financial service firm primarily stakes and invests in cryptocurrencies. It also manages mining centers across Canada. The Fintech firm has a current stock price of C$ 0.57 apiece.
The crypto stock has been marching with a 443 per cent rise in 2021. It has surged by 612.5 per cent in the last nine months, guided by the crypto boom. However, Neptune Digital’s share price has dropped by 74 per cent compared to its one-year high of C$ 2.21 per share (Hit on April 23).
The stock is still trading up against its short-term and long-term moving average multiple.
6. Banxa Holdings Inc. (TSXV:BNXA)
The blockchain-powered fintech company provides crypto payment solutions. Its share price is C$ 3.03 apiece.
Stocks of Banxa Holdings started trading on the Toronto Stock Exchange Venture (TSXV) in 2021. It has shot up by 1,761 per cent listing-to-date. However, the crypto stock has traded flat in the last one week.
The stock has plunged as much as 63 per cent against its lifetime high of C$ 8.3 per share (Set on March 18).
In the financial year ended in June 2021, the company recorded a total transaction value of AU$ 90 million, up 755 per cent on a year-over-year (YoY) basis.
Copyright © 2021 Kalkine Media
7. Hut 8 Mining Corp. (TSX:HUT)
The virtual token mining company has a share price of 6.02 apiece. It has amplified by over 385 per cent in one year, guided by its crypto inventories. Hut 8 retains all its mined cryptocurrencies.
The crypto stock has witnessed a 72 per cent increase YTD. Its stock price is C$ 6.02 apiece.
The stock is currently moving up by double-digit against its moving average multiple, showing a bull run. The crypto mining firm has also debuted on the Nasdaq stock market, which could boost its rally further.
8. DMG Blockchain Solutions Inc. (TSXV:DMGI)
The advanced tech stock has rocketed over 773 per cent in one year, propelled by the rising adoption of blockchain. Its share price is C$ 0.83 apiece.
The stock has risen almost 14 per cent in the past one week. It is up 38 per cent YTD, outperforming BTC token.
DMG Blockchain continues to beef up its crypto holdings. The cryptocurrency company aims to run its crypto mining business via green energy.
9. BIGG Digital Assets Inc. (CSE:BIGG)
The digital currency miner has delivered 202 per cent returns this year to its shareholders. Its current stock price is C$ 1.54 apiece.
It also offers brokerage services through its crypto trading app ‘Netcoins’. Its crypto exchange platform has observed unprecedented trading volume in the first half of 2021.
It has grown multiple folds by 1,040 per cent in the past one year, surpassing all top crypto tokens except Dogecoin and Matic.
10. Bitfarms Ltd. (TSXV:BITF)
The emerging cryptocurrency company has been getting traction from North American investors due to its staggering one-year return of 1,126 per cent. Its current share price is C$5.15 apiece.
The company owns and operates through ASIC machines to mine Bitcoin tokens. Its stock has soared over 106 per cent YTD, driven by its green crypto initiative and improving digital currencies’ value.
Bitfarms registered a positive top line of US$ 19.2 million in the first quarter of 2021, led by the retained crypto coins worth US$ 32.4 million.
