Blockchain Stocks: There are a few industries that seem to be starting off the month in the best way possible. Take the crypto industry, for instance. Within a 48 hour period, the crypto market added roughly $40B.
Occurring simultaneously, a number of crypto and blockchain stocks have found themselves in the green on the stock market today. These stocks include the following: Block X Capital and Global Blockchain Technologies.
Blockchain Stocks: Who’s Kicking July Off in the Green?
On July 3, two blockchain stocks, in particular, started trading above, or close to, the 10% mark.
- Block X Capital Corp (CNSX:BXXX)
According to Google Finance, at 10:02 a.m. EDT, Block X Capital Corp. was trading at $0.12. This means the stock was up 25.00% at the time.
Now, this may come as a surprise to a few people. Why? Well, let’s just say the company hasn’t exactly been doing too hot on the market lately.
The investment company, one that is heavily involved in blockchain, has found itself hitting new 52-week lows almost every week since the middle of May. This started on May 15, and the last time Block X Capital hit a new 52-week low was on June 8.
So, is there a reason this pattern has stopped, and Block X Capital has entered July with an almost 30% jump? Is the stock turning a new leaf?
Right now, the answer is unclear. But it’s likely a breath of fresh air for the company and its investors.
- Global Blockchain Technologies (CNSX:BLOC)
Coming in second is Global Blockchain Technologies, with a nearly 8% increase.
According to Google Finance, at 3:09 p.m. EDT, Global Blockchain was trading at $0.28. This means the stock was up 7.69% at the time.
On Tuesday, Global Blockchain released a note to its investors. To simplify, the Vancouver-based company announced that it understands many are worried about its recent drop in share price, and that they needed to clarify a few issues.
Global Blockchain Technologies also provided a long-term outlook. And, despite the prior worries, investors appeared to be pleased with what the Canadian company had to say, considering the blockchain stock is up nearly 10%.
Blockchain Stocks: The Takeaway
Do you have a suspicion as to why blockchain stocks did reasonably well today? Is it because of the crypto market success?
Featured Image: Depositphotos/© chrissi