Blockchain stocks, such as COIN, NVDA, and SQ, offer long-term potential amid market growth.

From Nasdaq

August 10, 2024 06:39:00 am:

Blockchain technology is not just about cryptocurrencies like Bitcoin. Its vast use cases drive innovation in finance, cybersecurity, and digital ownership across all industries. The market is set to grow by 68% to $69 billion by 2032, making blockchain stocks a solid long-term investment, despite recent cryptocurrency volatility.

Coinbase (COIN) has seen strong growth in 2024, offering embedded finance for global cryptocurrency trading. Despite recent market volatility, COIN posted impressive Q2 earnings, with net revenue doubling to $1.4 billion. Wall Street guru Cathie Wood bought the dip, highlighting COIN as an attractive stock for long-term investors.

Nvidia (NVDA) plays a crucial role in blockchain technology’s growth due to its processing power. The stock grew by 745% between Q1 2023 and Q2 2024, becoming briefly the world’s most valuable stock. Q2 earnings project a 107% YoY revenue growth to $28 billion, showcasing Nvidia’s potential for future technological innovations.

Block (SQ) is a stock enthusiastic about blockchain technology, with a keen focus on cryptocurrency. Despite a 15% dip in the first half of 2024, Block announced Q2 gross profit growth of 20% YOY to $2.23 billion. With plans to invest 10% of gross profit into Bitcoin, Block positions itself for growth in the blockchain and cryptocurrency industry.

Read more at Nasdaq.: The 3 Best Blockchain Stocks to Buy in August 2024