- The global crypto market capitalization slid by around 9% to US$1.5 trillion on Thursday after Russia started a large-scale military attack on Ukraine.
- The world’s largest cryptocurrency Bitcoin plunged around 10% to US$34,618.
- There are many crypto-related stocks trading on the London Stock Exchange that abide to the usual financial regulations and allow investors to access the potential upside of the crypto trend.
The global crypto market capitalization slid by around 9% to US$1.5 trillion on Thursday after Russia started a large-scale military attack on Ukraine and warned other countries that any attempt to interfere can lead to consequences they have never seen.
The world’s largest cryptocurrency Bitcoin plunged around 10% to US$34,618 and Ether, the second largest cryptocurrency that is linked to the Ethereum blockchain, also plunged around 10% to US$2,373. Meanwhile, prices of other cryptocurrencies also fell as Dogecoin, Shiba Inu, XRP, Solana, Cardano, Terra, Avalanche, Stellar, Polkadot were trading with cuts in the range of 8-15%.
Cryptocurrency is a decentralised digital or virtual currency that uses blockchain technology to maintain a public record of all transactions related to cryptocurrencies. There are many crypto-related stocks trading on the London Stock Exchange that abide by the usual financial regulations and can allow investors to access the potential upside of the crypto trend. Investing in cryptocurrencies is considered as risker investment but investing in crypto stocks can significantly reduce the risks. But detailed research should be done before taking an investment call.
© 2022 Kalkine Media®
On Friday, at the time of writing, the total crypto market cap surged by 9.12% to US$1.72 trillion over the last 24 hours. Meanwhile, Bitcoin prices surged by 7.58% to US$38,377.03 and Ethereum prices surged by 8.35% to US$2,606.86.
Let us now look at five FTSE-listed crypto related stocks.
Quantum Blockchain Technologies Plc (LON: QBT)
Online Blockchain Plc is a FTSE AIM All-share listed company that focuses on R&D and investment programmes in blockchain technology. It focuses on identifying the most innovative start-ups in the blockchain and cryptocurrency sector to coordinate and exploit synergies between in-house projects and investments. Quantum Blockchain Technologies Plc’s market cap stands at £21.56 million, and its shares were trading at GBX 2.30, up by 4.55%, at 9:30 AM (GMT) on 25 February 2022.
Argo Blockchain Plc (LON: ARB)
Argo Blockchain Plc is a world-leading cryptocurrency miner, and its energy-efficient operations and powerful mining activities are mainly located across North America. The company has three leased state-of-the-art facilities that is engaged in mining of Bitcoin and Zcash.
The company has recently announced the appointment of Raghav Chopra as an independent non-executive director and it has mined 172 bitcoins in January as compared to 214 BTC in December 2021, the reduction is due to an increase in network difficulty. Argo Blockchain Plc’s market cap stands at £285.53 million, and its shares were trading at GBX 62.50, up by 2.46%, at 9:30 AM (GMT) on 25 February 2022.
© 2022 Kalkine Media®
Online Blockchain Plc (LON: OBC)
Online Blockchain Plc is UK’s leading blockchain R&D company engaged in development, administration, and custodian of blockchains and cryptocurrencies. Its projects include Buenos, Happy Pool, PlusOne Coin, PTC Network, Braz.io, FreeFaucet.io, Happy Miner, Mooning Market, and FreeLoadr. The company’s shares are listed on the FTSE AIM All-Share Index. Online Blockchain Plc’s market cap stands at £4.58 million, and its shares were trading at GBX 32.50, up by 1.56%, at 9:30 AM (GMT) on 25 February 2022.
CME Group Inc (LON: 0HR2)
CME Group Inc is the world’s leading and most diverse derivatives marketplace and is only exchange that creates a market for cryptocurrency future contracts. In 2017, the company established the first market for bitcoin futures and in 2020 it created a market for options in Bitcoin futures. CME Group Inc’s shares were trading at USD 161.38 at 9:30 AM (GMT) on 25 February 2022.
Riot Blockchain Inc (LON: 0KX0)
Riot Blockchain Inc operates as a Bitcoin mining company that supports the blockchain through rapidly expanding large-scale mining in the US. It aims to expand its operations by increasing its mining hashrate and infrastructure capacity. It expects to raise total operational hash rate capacity to around 7.7 EH/s by the end of 2022. Riot Blockchain Inc’s shares were trading at €7.42, at 9:00 AM (GMT) on 25 February 2022.
Note: The above content constitutes a very preliminary observation or view based on industry trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.