Blockchain Penny Stocks are Making a Comeback

penny stocks

Blockchain penny stocks flooded the US and Canadian markets last year. Cryptocurrency and blockchain was the new emerging industry towards the latter half of last year, and everyone wanted to get their hands on it. 

Companies that were being threatened with being delisted on exchanges were switching their names and business models to be centered around blockchain, and some saw gains of over 100% in a trading day after the announcement was made. 

Now, cannabis is king, and blockchain has been left in the dust. However, some blockchain penny stocks are making a comeback on the TSXV today. Let’s take a closer look at these companies and their latest announcements.

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Blockchain Penny Stocks: HashChain Technology Inc. (TSXV:KASH)

HashChain is headquartered in Vancouver, BC, and operates as a blockchain technology company that engages in cryptocurrency mining activities. The company also provides traders with the NODE40 Balance, as well as DASH masternode server-hosting services. 

The latest formal notice published by the blockchain company was six months ago when it released its second-quarter financial report. Today, the blockchain penny stock is the top traded stock on the TSXV according to volume.

At press time, KASH is currently trading at $0.065 a share, up +$0.005 (+8.33%). It remains unknown at this time why it is the highest trading stock by daily volume, due to the company’s lack of investors updates.

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Blockchain Penny Stocks: Hive Blockchain Technologies, Ltd (TSXV:HIVE)

Hive Blockchain Technologies is also headquartered in Vancouver, BC, and operates as a blockchain investment firm and incubator. The last public news released by the company was two months ago, regarding the financial reporting of its first two quarters of 2018.

“I remain pleased with the progress made by HIVE on the operational front and in regard to our financial position. We continue to deploy capital and have added an additional 6.8 megawatts of capacity in Sweden as well as closed the acquisition of Kolos in the quarter. Financially, HIVE generated positive cash from operations and took another step forward in growing the business,” said Harry Pokrandt, CEO and director of HIVE. “Our financial position has advanced despite challenging market conditions which have seen major cryptocurrencies come under pressure this year. We remain well capitalized and well positioned to achieve our goals of profitable deployment of capital to maintain our leadership position in the blockchain infrastructure industry.”

The blockchain penny stock is trading high today at $0.58 a share, up +$0.04 (+7.41%).

Featured Image: Depositphotos/© Fotofabrika