Top 5 Blockchain Stocks to Watch in January 2022

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Top Blockchain Stocks To Check Out This Week

Blockchain stocks have gained popularity in the stock Exchange recently. For better or worse, it’s a technology that is being increasingly adopted by dozens of publicly traded companies. Some are using blockchain to complement their existing businesses while others are capitalizing on the trend by supporting the technology. For example, NVIDIA (NASDAQ: NVDA) is a leading manufacturer of Graphics Processing Units (GPUs) that play an important role in cryptocurrency mining. GPUs are important hardware components that cryptocurrency miners use to process transactions on the blockchain.

Meanwhile, the likes of MasterCard (NYSE: MA) that have largely benefited from the current trend towards a cashless economy are also embracing the technology. Last year, we saw the company partner with three leading cryptocurrency service providers in the Asia-Pacific region to launch crypto-funded Mastercard payment cards. All in all, it wouldn’t be surprising if blockchain technology would one day power modern society. After all, the possibilities are truly endless. Therefore, would you like to be exposed to some of the top blockchain actions in the stock market today?

Blockchain stocks to buy [Or Avoid] For January 2022

To block

First, we will look To block, formerly known as Square. Simply put, it is a technology company that focuses on financial services. It develops tools to help people access the economy through some of its basics, including Square, Cash App, Spiral, and TIDAL. Thus, sellers can take advantage of the company’s suite of technologies to manage and grow their business. Last month, the company changed its name to Block, suggesting that it may put more emphasis and focus on blockchain technology.

Last week, Block confirmed plans to build a Bitcoin mining system and will be hiring a team for it. The company believes that mining goes beyond just creating new bitcoins. He also sees the long-term value of a fully decentralized, permissionless future. From now on it looks like mining will take place “out in the open and alongside the community.”

What this implies is that Block wants anyone to have access to Bitcoin mining from home. Overall, this new initiative aligns with the company’s belief that Bitcoin can and will be the dominant cryptocurrency of the internet. With that in mind, do you consider SQ stock to be one of the top blockchain stocks to watch?

Source: TD Ameritrade Terms of Use

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Coinbase

Then we have the fintech company, Coinbase. Essentially, the company is an end-to-end financial infrastructure and technology provider. Its main goal is to build a cryptoeconomy. Impressively, its growing platform already has over 43 million retail users, 7,000 institutions and 115,000 ecosystem partners in over 100 countries around the world. These statistics would make Coinbase one of the best blockchain companies in the world today.

Last week, Coinbase said it was buying a crypto futures exchange, FairX. This is an important step towards the company’s goals of making the derivatives market accessible to millions of customers in the United States FairX, which launched last year, sells futures products and is regulated by the US Commodity Futures Trading Commission (CFTC). Well, with the ability to trade crypto futures and options, institutional investors might find Coinbase more appealing. So, would you add COIN stocks to your watchlist?

COIN stock chart
Source: TD Ameritrade Terms of Service

Silvergate Capital

Another blockchain stock to consider right now would be Silvergate Capital. For those unaware, the bank is a provider of financial infrastructure solutions and services to participants in the expanding digital currency industry. Its services include commercial banking and loans, warehouse mortgages and commercial business loans. The Company’s Silvergate Exchange Network (SEN) is a near-instantaneous payment network for participants in the digital currency industry. Despite the turmoil currently facing blockchain stocks, SI stocks have still risen over 85% in the past year.

Last month, the company and EJF Capital LLC announced the launch of the EJF Silvergate Ventures fund. It is essentially a joint investment vehicle that focuses on fintech start-ups, digital currencies and payments, and specialist fintech. So, the type of investment he is looking for is one that develops technologies for wide adoption in finance. In addition, investors are also expecting its fourth quarter and next year financial results announcement next week. That said, would you consider adding SI stocks to your portfolio ahead of its earnings report?

SI stock chart
Source: TD Ameritrade Terms of Service

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Shopify

Traditionally, Shopify is renowned for being a cloud-based multi-channel commerce platform. It offers subscription solutions and merchant solutions. Thus, merchants can leverage its software to manage their business across all their sales channels. With a single view of their business and their customers, this will allow them to manage their business while building relationships with their customers from a single integrated back-office. However, Shopify has recently become familiar with blockchain technology through its involvement in selling non-fungible tokens (NFTs) on its platform.

In December, GigLabs announced its GigLabs NFT app for the Shopify App Store. This is available to eligible Shopify Plus merchants to create and sell NFTs on their storefront. By offering its merchants an accessible approach to selling digital assets through its platform, we can see Shopify’s commitment to tapping into the growing NFT ecosystem. All things considered, is this a step in the right long-term direction for the company? If you think so, do you consider SHOP stock to be a top investment candidate at its current valuation?

SHOP stock chart
Source: TD Ameritrade Terms of Service

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CME Group

Last but not least, we have CME Group. For the uninitiated, the company is one of the leading futures and options exchanges. It offers derivative securities for stocks, currencies, indices, agricultural commodities and many more. In fact, it is currently the only exchange that creates a market for bitcoin futures. Therefore, CME will likely benefit from the growing adoption of cryptocurrencies. CME’s stock is up about 15% in the past year.

Last week, CME announced that it had reached a record international average daily volume of 5.5 million contracts in 2021. This represents an increase of 4% compared to 2020. Among which, Europe, the Middle East and the reached a record 4 million contracts which was driven by a strong performance in interest rate products and agricultural products. Overall, in 2021, market conditions have created a growing need for risk management around the world as clients around the world continue to navigate constant volatility and uncertainty. Given these factors, should you be watching CME’s stock closely?

CME Stock Chart
Source: TD Ameritrade Terms of Service

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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