Summary: Blockchain technology offers lucrative opportunities in fintech and renewable energy sectors

From Nasdaq Inc.: 2024-06-18 12:52:15

1. Blockchain and cryptocurrencies have a mixed reputation, but the technology offers complex and lucrative opportunities. The blockchain is a transparent digital ledger, disrupting fintech for secure transactions and efficient data processing. Wall Street is recognizing this, with the SEC approving spot Bitcoin and Ethereum ETFs trading in the U.S.

2. Coinbase (COIN) is a leading centralized crypto exchange with global expansion and a platform, Base, for trading NFTs. Analysts project a price target of $263.84 with potential for a 100% upside. Trading at 34x forward earnings, Coinbase remains a top blockchain stock to buy amidst the crypto bull run.

3. CleanSpark (CLSK) focuses on renewable energy for Bitcoin mining, catching attention for its environmentally friendly approach. The stock has gained over 60% in 2024 and trades at about 10.2x sales. Consider investing in this revolutionary blockchain competitor as valuation settles following recent growth.

4. Block (SQ), led by CEO Jack Dorsey, has entered Bitcoin mining with the completion of a 3-nanometer chip design. The company aims to make Bitcoin mining accessible to everyone. With a one-year average price target of $91.09, Block’s stock looks enticing with valuations at 1.5x forward sales. Trading at 16x forward cash flow, Block’s stock remains a promising investment in the blockchain space.

Read more at NASDAQ.: 3 Blockchain Stocks to Buy Now: June 2024