Blockchain penny stocks were a hot commodity back in 2017. Now, they aren’t getting as much movement as they used to, but the potential is there.
Many major companies in the US and around the globe are trying to find ways to incorporate blockchain technology into their current systems. Companies that have centered their focus on blockchain and cryptocurrencies have the potential to aid the larger corporations and potentially get acquired.
Let’s take a closer look at two blockchain penny stocks that have dropped significantly on the market today.
Coinsilium Group Limited (OTC:CINGF)
Based out of London, Coinsilium is a venture capital firm that specializes in early-stage startup seed-stage investments. The firm primarily focuses on investing in blockchain startups that look to leverage and commercialize blockchain tech.
Coinsilium was founded back in 2014 and currently has five full-time employees. There hasn’t been much movement from the company but last week it was announced that the firm invested $125,000 USD in Bundle Network Limited. Bundle Network is a company that develops an online platform to facilitate cryptocurrency exchanges.
According to Yahoo Finance, CINGF is currently trading at $0.085 a share, down -$0.015 (-15.00%).
DigitalX Limited (OTC:DGGXF)
DigitalX Limited is located in West Perth, Australia. The company develops software for retail-based consumer applications within Australia. DigitalX provides security and software development consulting for blockchain and cryptocurrency companies. DigitalX Limited was incorporated back in 1988 and transitioned to blockchain in December 2015.
On August 19th, Richland Standard put out a statement about DigitalX Limited’s year-over-year cash flow moves. It was geared towards investors looking to take advantage of cash heave shares. Some investors look at the cash flow of the company before deciding to invest.
DigitalX Limited has a one-year cash flow growth of -0.538.
According to Yahoo Finance, on the US exchange DGGXF is currently trading at $0.08 a share, down -$0.02 (-20.00%). On the Australian exchange, however, the company is trading at $0.135 AUD, up $0.015 (+12.50%).
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