With the increasing popularity of cryptocurrencies like Bitcoin (BTC) as well as the underlying technology, many organizations around the world are now issuing blockchain shares that offer investors access to the crypto market without having to directly purchase digital assets.
While not all blockchain stocks are necessarily crypto stocks, they are closely related to digital assets, whether in the form of crypto exchanges or proof-of-work (PoW) miners, while others belong to large financial institutions or tech companies that Develop blockchain.
With that in mind, Finbold has scoured the market and compiled a list of some of the top blockchain stocks worth keeping an eye out for in May, the fifth month of 2023.
Marathon Digital Holdings (NASDAQ: MARA)
In March, Marathon Digital Holdings (NASDAQ: MARA) was one of the bitcoin mining stocks to see a big run up thanks to rising interest in the decentralized finance (DeFi) flagship. Additionally, in early April, the miner firm declared record BTC production in the first quarter of 2023.
At press time, MARA is trading at $8.78, which shows a whopping 145.25% year-to-date growth according to the latest charts retrieved by Finbold on May 2nd.
MARA stock 20, 50, 200 day SMA lines. Source: Finviz data. More stocks can be found here.
Notably, out of five analysts covering Marathon Digital, two have a “strong buy” recommendation, while three are in a “hold” position, giving the stock their “buy” rating.
Wall Street MARA 12 Month Price Prediction: Source: TradingView
Coinbase (NASDAQ:COIN)
A popular crypto trading platform, Coinbase Global (NASDAQ: COIN), has attracted a lot of attention in recent weeks for its widespread opposition to the United States Securities and Exchange Commission (SEC) over its threat of enforcement action, as well as the upcoming one Litigation between the exchange and the regulator.
Amidst all these developments, COIN stock traded at a price of $50.14 and has recorded a 41.68% gain since the markets opened on January 3, 2023.
COIN-stock 20, 50, 200-day SMA lines. Source: Finviz data. More stocks can be found here.
Interestingly, 11 out of 28 analysts recommend a ‘Strong Buy’ for Coinbase, 10 recommend ‘Hold’, while two are in a ‘Sell’ position and five are in a ‘Strong Sell’ position, giving COIN stock an overall ‘Neutral’ rating’ Evaluation.
Wall Street COIN 12 Month Price Prediction: Source: TradingView
Mastercard (NYSE: MA)
Although financial giant Mastercard Incorporated (NYSE: MA) devotes a significant amount of its attention to building crypto partnerships, it recently announced that it would increase its focus on developing blockchain technology to support more efficient payment systems instead.
Year-to-date, the MA is up +29.9 or 8.54%, changing hands at the price of $379.86 at press time, the charts show.
MA stock 20, 50, 200 day SMA lines. Source: Finviz data. More stocks can be found here.
At the same time, 28 out of 39 analysts who have provided Mastercard stock ratings over the past three months have called Mastercard a “strong buy,” with six recommending a “buy,” five recommending “hold,” and no “sell” or “sell.” ‘strong sales.’
Wall Street MA 12 Month Price Prediction: Source: TradingView
That said, it’s important to do your own research and remain vigilant when choosing which stocks to invest in — and the same goes for blockchain stocks, as the stock market, like its crypto counterpart, sometimes has a habit of going too surprise unsuspecting investors, be it in a positive or negative sense.
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Disclaimer: The content of this website should not be construed as investment advice. Investing is speculative. When investing, your capital is at risk.
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