Best Blockchain Stocks for Growing Market Momentum in June

Best Blockchain Stocks for Growing Market Momentum in June

June 2024: The blockchain stocks rallying on market momentum

With the world shifting to digital space, blockchain technology is still on the rise, influencing different sectors and making more and more people interested in the high-growth potential business.

After analyzing the specified indices in June, some blockchain stocks can be noted as promising ones that will attract attention to the further development of this market trend. But if you want to know about a few of the most promising blockchain stocks for next month, let us dive into them.

1. Square (SQ):

Twitter CEO Jack Dorsey’s Square has really ramped up its operations in the Blockchain sector over the past few months. The overall impression is that it has a Cash App, where users can buy and sell Bitcoin, making it ideal for people interested in cryptocurrency. As blockchain technology is widely integrated into payment solutions and iterative electronic money, Square’s blockchain initiatives should positively impact its value in June.

2. NVIDIA Corporation (NVDA):

NVIDIA boasts that GPUs enjoy massive usage in cryptocurrency mining; therefore, they are significant participants in the blockchain technology industry. With the continually increasing sales of GPUs, mainly due to the current craze of activities involving bitcoins and other related virtual currencies, NVIDIA will indeed be an advantage. It indicates that there will be plenty of gains ahead for NVDA stock, and assessing its performance at the end of the month will reveal the scenario at the beginning of June.

3. Coinbase Global Inc. (COIN):

Coinbase, one of the famous US-based cryptocurrency exchanges, made its debut this year amid massive interest from investors. Some of the significant factors affecting Coinbase are the general market situation in the industry, such as the price of various cryptographic currencies that are sold, bought, and stored within the company. As the uptake of finance in digital assets becomes broad-based in the future, the outlook for the ETO is more bullish in June.

4. MicroStrategy Incorporated (MSTR):

MicroStrategy made headlines when it revealed it would be following this strategy of switching to Cashless from the cash-rich company that it was – by using its showpiece cash to buy bitcoins. MicroStrategy is one of the first companies to list on the stock exchange to add Bitcoin as a treasury reserve asset. It has laid a strong foundation for blockchain stocks and conventional capital markets. Looking at the future projections of BTC and the overall market, it is apparent that MSTR stocks will do well in June.

5. Riot Blockchain Inc. (RIOT):

Riot Blockchain is a marijuana-focused terminal that operates within the cryptocurrency mining industry, particularly Bitcoin mining. In fact, with BTC’s record-high prices, Riot Blockchain’s mining operations are now very lucrative. Given that Bitcoin is in an uptrend, share RIOT is expecting a positive outcome, as the market was relatively good in June.

6. Marathon Digital Holdings Inc. (MARA)

Marathon Digital Holdings is another mvodiate contender in the Bitcoin mining market. In a bid to adopt the best practices in mining and mineral exploration while promoting sustainability, Marathon has placed itself at the forefront of environmentally conscious mining. That is why investing in MARA stock has so much potential for benefit since the company operates in the cryptocurrency mining industry and can expect to experience further growth due to the increase in the value of Bitcoin.

7. HIVE Blockchain Technologies Ltd. (HIVE. V):

HIVE Blockchain is a serious player in the world of cryptocurrency mining, which uses renewable energy sources to power its mining facilities. By leveraging the sustainability aspect, HIVE has tapped investors interested in eco-friendly investments in the blockchain space. HIVE is set to participate in the clean energy market to answer the increasing need for clean energy products with its offerings in the solar energy segment. V stock is also expected to take a bullish position in June.

8. Canaan Inc. (CAN):

Canaan is one of the well-known sellers of Bitcoin mining hardware. It specializes in the production of ASICs used in mining. Due to the scarcity of semiconductor chips worldwide and the large demand for them from cryptocurrency miners, Canaan’s products have the potential to appeal to these customers. With the increase in trading of mining hardware in the market, CAN stock has the potential for growth during June.  

9. IBM (IBM):

Currently, IBM remains one of the pioneer organizations researching the potential of utilizing blockchain for various purposes such as supply chain, identity, and payment. IBM is still one of the significant players in the blockchain sector, with a strong focus on enterprise solutions and blockchain development. Specifically, specific key indicators blended in IBM suggest that the company will experience the upside of this business trend in June.

10. Advanced Micro Devices Inc. (AMD):

Advanced Micro Devices is one of the largest tech companies. It develops and provides microprocessors, also known as CPUs and GPUs, appealing to the cryptocurrency mining industry. For the computational demands currently eliciting much-needed computation power within the blockchain market, AMD products are critical to cryptocurrency miners. Yet, this is expected to be the case as the use of blockchain technology increases, thereby signifying a possible increase in the price per share of AMD stock in June.

Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.

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