Blockchain and Cryptocurrency Penny Stocks
Cryptocurrency penny stocks are growing in both number and popularity as of late. This could be due to the increased social media hype surrounding Bitcoin, as well as the greater industry focus on blockchain technology. Regardless, we thought it might be a good idea to look into two of the most hyped companies floating at the moment.
These stocks have seen significant attention in recent months, with ARBKF gaining huge notoriety for a yearly performance that overdelivered on its initial promise. We’ll also take a look into KTPPF, our pick as the potential ‘next ARBKF’, which is currently experiencing a slow fightback, but with increasing volume could it be a clever move?
ARB (LSE) or ARBKF (OTC) – Cryptocurrency Penny Stocks
Argo Blockchain, formerly known as GoSun Blockchain, is an increasingly decisive player in the cryptocurrency penny stock market, boasting ‘one of the largest and most efficient operations powered by clean energy; a hugely marketable accolade. The stock saw a 3250% rise in 2020/21, as a result of a huge hype that is still ongoing, with it skyrocketing 50% on 24/2 (the day of writing) alone.
- 1-Year Performance: 3259.62%
- Market cap: £1.68b
- Total Assets: $24.72m
A stock that has seen such prolonged and continuing growth, many key outlets have already started issuing warnings against it, suggesting the bubble is about to burst. Regardless, however, it must be recognised that this is a market which will almost definitely see huge development as cryptocurrencies grow in popularity.
KTPPF – Blockchain Penny Stock
Katipult Technology Corp, formerly known as Deha Capital, offers a cloud-based software infrastructure, allowing firms to ‘design, set up, and operate’ an investment platform. Centred around Blockchain technology, the company’s platform is the core product here; with automated investment management, including ‘components of financial transactions, investment marketing, and dividend payouts’ all being accounted for, whilst a tertiary feature allows for regulatory requirements to be managed across jurisdictions.
- 1-Year Performance: -9.47%
- Market Cap: $15.95m
- Total Assets: $1.97m
Perhaps a long-term play, this stock has rebounded slowly but steadily over the last year, though not quite reaching it’s pre-covid levels as of yet. Massively increased volume in the new year, however, has created somewhat of a hype, with the stock expected to pop in the coming months. This could be an interesting one to look into, as the long term scope for their blockchain services looks particularly promising, in a market with little defined competition. Whether or not you believe the hype, this is certainly a stock to keep an eye on, as the development of blockchain looks to yield limitless potential in both applicable uses and financial lucrativity.
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