In 2017, blockchain technology emerged full force into the tech scene. While it wasn’t a new tech by any means, major companies began to take notice of its potential at this time. Towards the second half of 2017, blockchain stocks and digital currencies began rising drastically.
Most of these stocks, along with the digital tokens behind them, hit record-highs in December of 2017. In January 2018, the fall began. Investors began dumping both digital currencies and blockchain stocks. In a month’s time, the total cryptocurrency market lost $500 billion of its market cap.
Today, we’ll take a closer look at those blockchain stocks that took a big hit in 2018 but are still running strong.
Global Blockchain Technologies Corp. (OTC:BLKCF)
Global Blockchain Technologies is a blockchain technology investment company. The company changed its direction to blockchain back in October 2017 and was once known as Carrus Capital Corporation. Many blockchain stocks that skyrocketed in late-2017 haven’t provided investors updates on company movement in months.
Global Blockchain Technologies has kept its investors in the loop, despite its declining share price. Year-to-date on the OTC, BLKCF share prices are down -96.42%. However, earlier today, the blockchain company announced an update on its singularity exchange.
“Despite the recent drop in market cap, 2018 has been a great year for blockchain and crypto,” said Shidan Gouran, President and CEO of the Company. “There may have been ups and downs in the crypto market, but it remains clear that there is a persisting interest in cryptocurrencies as a more advanced way of transacting value, as well as in blockchain networks as a decentralized form of governance.”
According to Yahoo Finance, the blockchain stock is currently trading at $0.048 a share, down -$0.005 (-9.43%).
Hive Blockchain Technologies Ltd. (TSXV:HIVE) (OTC:HVBTF)
Hive Blockchain Technologies is also headquartered in Vancouver, British Columbia, and operates as a cryptocurrency mining firm. The company was formerly known as Leeta Gold Corp but changed its name and direction back in September of 2017.
Year-to-date, HIVE has dropped -93.17% on the TSXV and -93.44% on the OTC. However, Hive Blockchain Technologies is still active in the crypto space and updated investors on its progress just two weeks ago.
At this time, the blockchain stock announced it had increased its ASIC Bitcoin mining capacity.
Interim Executive Chairman, Frank Holmes, explained:
“This increase in capacity and future optionality comes on the heels of the recent announcement regarding improved financial terms of our bitcoin mining contract and the addition of Marco Streng, CEO of Genesis Group, as Vice Chairman of HIVE. Despite the volatility in cryptocurrency prices experienced throughout 2018, we believe that these low-cost increases in our mining capacity have better positioned HIVE within the current landscape and we now stand to benefit tremendously from potential improvements in the cryptocurrency markets, specifically Bitcoin and Ethereum.”
At the time of writing, the blockchain stock has no movement on the TSXV but is trading at $0.188 a share on the OTC, up +$0.0079 (+4.36%).
If you’re searching for blockchain stocks to watch in 2019, these are the ones we recommend at this time.
Featured Image: depositphotos/Boliukh_Oleksandr