Top blockchain stocks to explore: COIN, CME, RIOT, MARA & BITF

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Top blockchain stocks to explore: COIN, CME, RIOT, MARA & BITF

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 Top blockchain stocks to explore: COIN, CME, RIOT, MARA & BITF
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Highlights

  • Cryptocurrencies have drawn huge investors’ interest after the Ukraine crisis erupted. 
  • Blockchain technology has made Decentralized Finance (DeFi) possible.
  • The market was up 3.7% to 2.02 trillion in the last 24 hours to Friday morning. 

Blockchain stocks are companies that offer blockchain-related products and services to customers. Some examples of blockchain stocks include NVIDIA (NVDA), Mastercard (MA), International Business Machines Corporation (IBM), Advanced Micro Devices, Inc. (AMD), etc. 

Blockchain technology has made Decentralized Finance (DeFi) possible in different sectors. The global cryptocurrency market was up 3.7% to US$2.02 trillion in the last 24 hours to Friday morning, according to coinmarketcap.com. 

Here we discuss five companies engaged in the cryptocurrency business. 

 

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Coinbase Global, Inc. (NASDAQ: COIN)

Market Capitalization: US$48.68 billion

Closing Price on March 22, 2022: US$176.81 

Wilmington, Delaware-based Coinbase is a leading cryptocurrency exchange based in the US. The company was founded in 2012. The exchange offers various currencies for trade. A large part of its revenue comes from transaction fees. It also invests and acquires properties to expand its operations, such as data analytics, prime brokerage, and collateralized lending.

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For the fiscal year ended December 31, 2021, its revenue was US$7.84 billion compared to US$1.28 billion in the previous fiscal year. The net income of the company grew more than ten times to US$3.62 billion compared to US$0.322 billion in fiscal 2020.

The stock traded in the price range of US$429.54 to US$150.12 in the last 52 weeks. It has a P/E ratio of 12.9, and forward P/E for one year is 35.65.

COIN stock traded at US$187.78 with a 6.20% gain at 11:39 am ET on Tuesday.

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 Five blockchain stock to explore in the volatile crypto-market

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CME Group Inc. (NASDAQ: CME)

Market Capitalization: US$88.9 billion

Closing Price on March 22, 2022: US$250.76 

CME Group operates exchanges that allow investors, businesses, and suppliers to trade in futures and derivatives. The company was founded in 1898. It is based in Chicago, Illinois. The company has a 27% stake in S&P/Dow Jones Indices LLC, making the Chicago Mercantile Exchange an exclusive venue for trading and clearing S&P futures contracts.

It booked US$4.69 billion in revenue for the fiscal year ended December 31, 2021, compared to US$4.88 billion in the previous fiscal year. The net income was US$2.6 billion or 7.29 per diluted share in FY 2021 compared to US$2.1 billion or US$5.87 per diluted share in FY 2020.  

The stock traded in the price range of US$256.94 to US$185.79 in the last 52 weeks. It has a P/E ratio of 33.82 and a dividend yield of 1.6%, with an annualized dividend of US$4.00.

The stock was down 1.45% to US$247.1201 on Tuesday at 11:39 am ET.

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Riot Blockchain, Inc. (NASDAQ: RIOT)

Market Capitalization: US$2.44 billion

Closing Price on March 22, 2022: US$19.62 

Riot Blockchain Inc is focused on building, operating, and supporting blockchain technologies. The Castle Rock, Colorado-based company is engaged in cryptocurrency mining.

The company’s revenue increased by 1,665% to US$213.2 million in the fiscal year 2021, compared to US$12.1 million in 2020.

 It reported a net loss of US$7.9 million or US$0.08 per diluted share in FY 2021 compared to a net loss of US$12.7 million or US$0.30 per diluted share in FY 2020.

The stock traded in the price range of US$61.55 to US$12.90 in the last 52 weeks. RIOT has a forward P/E ratio of 18.87.

The stock traded at US$29.67 with a 7.38% surge at 12:26 pm ET on Tuesday.

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Marathon Digital Holdings, Inc. (NASDAQ: MARA)

Market Capitalization: US$3.16 billion

Closing Price on March 22, 2022: US$27.63 

Marathon Digital Holdings Inc is based in Las Vegas, Nevada. It is focused on digital assets mining. The company owns cryptocurrency mining machines and data centers to mine digital assets. The crypto-currency machines are located in Canada.

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The company earned revenue of US$150.5 million in fiscal 2021, an increase of 3,353%, compared to US$4.4 million in fiscal 2020.

 The net loss totaled US$36.2 million or US$0.36 per diluted share in FY2021 compared to a net loss of US$10.4 million or US$0.13 per diluted share in fiscal 2020. 

The stock traded in the price range of US$83.45 to US$18.32 in one year. MARA stock has a forward P/E ratio of 9.59.

The stock traded at US$29.94, up 8.36% gain at 3:00 pm ET on Tuesday, March 22.

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 Five blockchain stock to explore in the volatile crypto-market

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Bitfarms Ltd. (NASDAQ: BITF)

Market Capitalization: US$728 million

Closing Price on March 22, 2022: US$3.65 

Ontario, Canada-based Bitfarms Ltd is a blockchain company founded in 2017. It owns and operates blockchain farms that power the global decentralized financial economy. It provides computing power to cryptocurrency networks, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash etc., and earns fees from securing and processing the transactions. 

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 The company mined 1,051 Bitcoin (BTC) in Q3 2021, a 38% increase from 759 BTC in Q2 2021. Its revenue increased by 559% to US$44.8 million YoY. The net income improved to US$23.7 million in Q3 2021 versus a net loss of US$4.8 million in Q3 2020.

The stock traded in the price range of US$9.36 to US$2.75 in the last 52 weeks.

The stock was up 3.56% at US$3.78 at 12:26 pm ET on Tuesday.

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Bottomline

After the Russia-Ukraine war broke out, the cryptocurrency market gained significant traction as conventional banking ceased operations, and people looked for alternate modes to meet their daily needs. Many people have extended help to Ukrainians by offering digital currencies, enabling them to make payments wherever possible. The digital currency ecosystem is rapidly becoming mainstream. Countries are legalizing cryptos or planning to launch their own Central Bank Digital Currency (CBDC). As a result, blockchain companies are drawing investors’ interest. However, they must apply due diligence before investing in digital assets.

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