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What Are The Hottest Blockchain Stocks Right Now? 3 Top Picks
Make Big Profits in the Blockchain Industry by Owning a Stake in These Three Profitable Blockchain Stocks
An important consideration when choosing blockchain stocks is regulatory risk. Due to its young age, the blockchain industry does not yet have clear regulations. It is essential to understand how future regulation could affect your investment.
For example, JD Vance, Trump’s candidate as running mate in the next presidential election in 2024, is pro-cryptoIt has received backing from tech billionaires like Peter Thiel and the Winklevoss twins.
This could be huge for the industry if Trump wins the next election. Such a victory could bode well for the future of cryptocurrency regulation.
With that in mind, these blockchain stocks could benefit from pro-crypto regulation. They have all the hallmarks of a stock that could shoot for the moon. These stocks have done quite well in 2024, and positive regulation could provide another boost.
With growing interest from institutional investors, these blockchain stocks could get a huge boost in the future.
Holding Company (NU)
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New participations (London share:NEW) is the world’s largest digital banking platform outside of Asia. Today, it has nearly 100 million customers in Central and South America.
Nu Holdings is changing the financial system in the Americas, thanks to its proprietary blockchain technology.
The company has launched many blockchain-based services to date. A recent example is its Association with Lightspark.
Through this agreement, it aims to improve the banking experience of its customers using blockchain. Previously, it worked with Fire blocks on a series of blockchain offerings.
In the first quarter of fiscal year 2024, Nu Holdings reported revenue of $2.7 billion, up 64% year over year. Deposits increased 53% to $24.3 billion in the same quarter compared to the previous year. Net income rose to $378.8 million from $141.8 million in the previous year.
In Brazil, Nu Holdings declared which recorded a monthly net increase of 12.3 million users, making it the fourth largest financial company in the country by user base.
Based on the positive financial results, NU stock price increased by 49% in 2024, signaling possible future growth.
Given its positive financial performance and growing blockchain use cases, Nu Holdings is one of the most profitable blockchain stocks. Investing in NU exposes investors to the promising blockchain sector and fintech industry.
Coinbase Global (COIN)
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Coinbase Global (NASDAQ:CURRENCY) is a leading cryptocurrency exchange in the United States. Its services are available to both institutional and retail investors. The company’s most popular services are Coinbase Wallet, USD Coin, and Coinbase Pro.
After the Securities and Exchange Commission approved Exchange Traded Funds on January 10, COIN stocks saw a surge in prices. On July 22, the commission approved Ethereum Exchange Traded Funds. The new approvals were a significant boost for COIN stocks.
Coinbase is the leading platform that American investors use to gain exposure to the blockchain industry. Despite this, the company still faces some legal challenges. It is working to clear its name from accusations of being an unregistered stock exchange.
In the first quarter of fiscal year 2024 resultsCoinbase announced that revenue increased 72% quarter-over-quarter to $1.6 billion, net income of $1.2 billion, and adjusted EBITDA of $1 billion. At the end of the quarter, the company had $1.1 billion in U.S. assets, which represents excellent liquidity.
The stock has had an exceptional performance in 2024, rising 45.58% year to date and an impressive 131.61% over the past 12 months. Following the Securities and Exchange Commission’s approval of new crypto exchange-traded funds, Coinbase is likely to see increased interest from institutional investors.
The result could be an even greater return for investors in this promising stock. While the stock has risen significantly in recent months, it is still trading at a significant discount to its all-time high of over $342 per share, achieved in November 2021.
Coinbase’s recent performance, coupled with recent regulatory developments, makes it a lucrative stock to own. If you’re looking for blockchain stocks to invest in, COIN should be a top priority.
Microstrategy (MSTR)
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Microstrategy (NASDAQ:MSTR) is a well-known business analytics firm with a significant stake in Bitcoin. In its first fiscal quarter of 2024 resultsMicroStrategy announced that it holds 214,400 Bitcoin worth $14.6 billion as of July 27, 2024.
The company is working on a blockchain-based decentralized identity system called Orange MicroStrategy. Once live, it could disrupt the digital identity industry. MicroStrategy has seen positive returns as one of the most prominent investors in the blockchain space.
MSTR stock is up 137% year to date and over 270% in the last 12 months. It is by far one of the best performing blockchain stocks in the world right now. Adding this stock to your portfolio could yield huge returns in the coming months.
The huge increase in its stock price comes amid a 5% year-over-year decline in first-quarter revenue to $115.2 million. However, the company reported a 22% year-over-year increase in subscription revenue to $23 million in the first quarter. results.
Its remarkable performance in 2024 can be closely linked to the massive increase in the price of Bitcoin in recent months. Since the beginning of 2024, the price of Bitcoin has increased by 54.09%while in the last 12 months it has increased by 133.04%.
MicroStrategy proudly holds the title of the world’s largest corporate holder of Bitcoin. The recent price rally in Bitcoin, which pushed its price above $65,000, has led to a revival of interest in MSTR stock.
Its plans for blockchain technology are also quite promising. If you are looking for blockchain stocks to own in July 2024, MSTR should be at the top of your list.
As of the date of publication, Joel Lim did not have (either directly or indirectly) any position in the securities mentioned in this article. The views expressed in this article are those of the author, subject to InvestorPlace.com policies Publishing Guidelines.
As of the date of publication, the responsible editor did not hold (either directly or indirectly) any position in the securities mentioned in this article.
Joel Lim is an InvestorPlace.com contributor and financial content provider who creates content for several firms such as LTSE and Realtor, as well as financial publications including Business Insider, Yahoo Finance, the Mises Institution, and the Foundation for Economic Education.