Best Cryptocurrency Stocks To Watch – March 29th

Today, investors are focusing on three notable cryptocurrency stocks: Robinhood Markets, Bitdeer Technologies Group, and Bitfarms. These stocks were highlighted by MarketBeat’s stock screener tool for their significant trading activity over the past few days. Cryptocurrency stocks represent the shares of companies engaged in various facets of the digital currency ecosystem, including blockchain development, cryptocurrency mining, and crypto trading platforms. By investing in these stocks, investors can gain exposure to the expanding cryptocurrency sector without having to own digital currencies directly.

Robinhood Markets (HOOD)

Based in the United States, Robinhood Markets, Inc. runs a financial services platform that permits users to invest in an array of assets, including stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company is known for its features such as fractional trading, recurring investments, fully-paid securities lending, and access to margin trading. Investors can also benefit from services like cash sweep, instant withdrawals, retirement program access, 24/7 trading, and initial public offerings participation.

On Friday, HOOD stock decreased by $2.07, adjusting to $41.92 during midday trading with 44,168,954 shares changing hands, compared to the average volume of 21,816,276. It has a 52-week low of $13.98 and a 52-week high of $66.91. The market capitalization stands at $37.12 billion, accompanied by a P/E ratio of 26.70 and a P/E/G ratio of 1.05, with a beta of 2.14. The fifty-day moving average price is recorded at $49.16, while the 200-day moving average price sits at $38.06.

Bitdeer Technologies Group (BTDR)

Bitdeer Technologies Group functions as a technology firm specializing in blockchain and computing solutions. The company provides hash rate sharing solutions, including cloud hash rate services and a marketplace for hash rates. Additionally, it offers comprehensive mining machine hosting solutions that cover deployment, maintenance, and operational management for effective cryptocurrency mining, along with mining cryptocurrencies for its own use.

On Friday, shares of Bitdeer traded lower by $0.78, standing at $9.14 with 4,196,619 shares exchanging hands, closely aligned with its average trading volume of 4,196,826. The stock has a 52-week low of $5.23 and a high of $26.99. A market cap of $1.02 billion is accompanied by a P/E ratio of -17.58 and a beta of 2.12. The fifty-day moving average is $13.92, while the 200-day moving average is $13.35.

Bitfarms (BITF)

Bitfarms Ltd. is engaged in the mining of various cryptocurrencies across Canada, the United States, Paraguay, and Argentina. The company operates server farms that validate transactions on the Bitcoin blockchain, earning cryptocurrency through block rewards and transaction fees. Furthermore, Bitfarms also offers electrician services to both commercial and residential clients in Quebec, Canada.

Shares of BITF experienced a $0.11 drop during midday trading on Friday, settling at $0.84 as 27,770,336 shares were traded, in line with an average volume of 28,895,974. The market cap here is approximately $403.93 million, with a P/E ratio of -2.34 and a beta of 3.68. It has a 52-week low of $0.82 and a high of $3.28, with a fifty-day moving average at $1.27 and a 200-day average price of $1.72. The current ratio is measured at 3.70, while the quick ratio is 3.68 with a debt-to-equity ratio of 0.04.

Cryptocurrency, Stocks, Investment