The cryptocurrency market is in the green today and climbing, but are blockchain penny stocks mimicking its movement?
Blockchain technology is a somewhat new technology that many companies are trying to get their hands on. Many investors are making bets on which blockchain penny stock will yield them the most rewards.
Let’s take a closer look at two penny stocks and their latest movements.
Blockchain Penny Stocks – August 17th, 2018
HIVE Blockchain Technologies Ltd. (TSXV:HIVE)
HIVE Blockchain is based in Vancouver, Canada. The company claims to be the first publicly listed blockchain company that has bridged the gap between cryptocurrency and blockchain with traditional capital markets.
Two days ago, HIVE announced the launch of its cloud-based ASIC mining power. Its stock shares rose that day and it could very well be trading high today for the same announcement. However, the cryptocurrency market’s positive movement might be the additional reason pushing the stock higher.
According to Yahoo Finance, HIVE is currently trading at $0.69 a share, up $0.02 (+2.99%).
Global Blockchain Technologies Corp. (TSXV:BLOC)
Global Blockchain Technologies Corp. is also headquartered in Vancouver, Canada. It is an investment company that gives investors access to a basket of holdings within the blockchain space.
Yesterday, the company announced that it secured a development license in Dubai. BLOC shares rose over 15% on the Toronto Stock Exchange after the press release was given out.
“We have made our relationships in this region a priority focus given the company’s view that blockchain solutions are particularly relevant and sought after in this area,” said Global Blockchain Chief Financial Officer Theo van der Linde.
The company’s stock today, however, isn’t doing as well on the market. According to Yahoo Finance, BLOC is trading at $0.20 a share, down -$0.01 (-4.76%). It closed the market yesterday at $0.21 a share.
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