Blockchain

3 Blockchain Penny Stocks to Watch as Crypto Pushes Up in June

Why These 3 Crypto Penny Stocks Are Popular Right Now

Penny stocks operating in the crypto or blockchain market have become incredibly popular this year. In case you are not aware, these are companies that operate in either the production of blockchain tech, crypto mining, software, or anything relating to these categories. Over the past year, many have seen large price surges that have astonished investors.

There are a couple of reasons why blockchain penny stocks are so popular right now. First, with platforms such as Coinbase (NASDAQ: COIN), it has never been easier to get involved with crypto investing. With easier accessibility, now even the most novice traders can buy in. The next reason is that our world is slowly progressing into new uses for this technology. Some believe that one-day cryptocurrency could be the global system of transferring money and trading.

Currently, many banks and even hedge funds have taken positions with crypto. This has served to further legitimize cryptocurrency and blockchain technology. However, be aware that penny stocks engaging in crypto are subject to high volatility. High volatility can, however, be used as a short-term financial tool for many investors. With high speculation likely in the coming years, businesses are scaling up to match the hype.

Investing in Crypto Penny Stocks

By not fully buying into crypto’s such as Bitcoin, Ethereum, or DogeCoin, investing in crypto-related penny stocks is a less exposure option. This permits investors to have exposure to the crypto market excitement without taking on the same amount of risk that is often associated.

The most exposed crypto penny stocks are those that mine for coins. There are few of these, however, they do exist. The next ones to look at are those that work with blockchain technology or rather, ones that produce it. These are usually known as tech penny stocks however, they remain quite broad.

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Mining is the act of using machines to collect Bitcoin, DogeCoin, Ethereum, Litecoin, and many others. There are large mining farms that use a lot of these machines to do so, as it is no easy task. Many businesses engaging in mining are often highly sought after, as they can have a high profit margin.

A more involved company usually tends to swing more with crypto prices than those less involved. This year, knowing what these companies do and how to trade them can be a great asset. Taking this all into account, here are three crypto penny stocks to add to your June watchlist.

3 Crypto Penny Stocks To Add Right Now:

Sos Ltd. ADR (NYSE: SOS)

Considering the recent rise in blockchain technology, SOS Limited is a company to check out. It deals directly with this new tech and specifically engages with big data accumulation and cloud network computing. As a business, it provides its customers with security for their data and information. Its clientele consists of emergency rescue services such as insurance, medical, auto, and financial care businesses.

Recently, SOS has also agreed to purchase 575 additional Ethrereum mining rigs. This will go to increasing profit margins for the company, as well as future expansion. By improving the company’s ETH hash rate, there is positive speculation on how much it can mine in the near future. Considering this, SOS stock could be one to keep an eye on.

As 2021 continues to progress, digital currencies and those companies engaging in crypto/blockchain technologies have an exciting future. Yandai Wang, CEO of SOS, commented: “We are optimistic about the future of cryptocurrencies and Ethereum in particular. This is part of our overall strategy to develop blockchain-based environments and services, which will be a core part of our growth in 2021 and beyond.”

Penny_Stocks_to_Watch_SOS Ltd. (SOS Stock Chart)ZW Data Action Technologies Inc (NASDAQ: CNET)

Another blockchain-related company is ZW Data Action Tech. This company engages in digital chain data analytics to help optimize client performance. This modern methodology takes a cloud-based approach to the blockchain ecosystem.

Its platform was developed in order to track and later provide data-based analysis for business marketing, operations, and consumption. By providing this information, the client can then tell where there could be improvement opportunities. This goes to help improve decision-making for small and medium-sized companies.

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In a competitive market, like we see today, CNET is giving an opportunity to those that need an advantage. It serves both domestic and international markets, vastly broadening its reach. Additionally, it has proven case studies that show its precision advertising and marketing services at work. These case studies also show that revenue growth is very possible for those who use its services.

Serving more than 3,000 customers worldwide, CNET has grown to a size of around 500 employees. Its annual revenue exceeds $30 million due to its success with small and medium enterprises. ZW Data states that it takes offline business online using its SaaS service. Given this information, what do you think of this blockchain penny stock? Is it worthy of being on your June watchlist?

Penny_Stocks_to_Watch_ZW Data Action Technologies Inc. (CNET Stock Chart)Borqs Technologies Inc. (NASDAQ: BRQS)

Borqs Technologies is the last crypto penny stock on this list. It is a leader in both software and products for IoT and operates through customizable and scalable Android-based smart devices. Additionally, BRQS provides cloud computing services for system optimization and increased performance.

See: How To Trade Penny Stocks

Currently, the company is in recovery from COVID-19 related financial troubles. However, shares have grown substantially in the past week. In 2021 BRQS decided to funnel a large amount of capital from new and existing customers into the “Huzhou 5G Project” research and development center. With 5G on the rise, its engagement in this new tech could be a lucrative decision. While being a 5G penny stock is not its only claim to fame, it could become a larger part of its business model soon.

It has a diverse software and IP portfolio and has developed an intellectual property library that covers chipset software, Android enhancements, domain-specific usage, and system performance optimization. This can be applied to both small and large volume products. With this in mind, investors may want to keep an eye on BRQS stock in the coming months.

Penny_Stocks_to_Watch_Borqs Technologies Inc. (BRQS Stock Chart)Blockchain Penny Stocks Are All the Rage Right Now

Blockchain penny stocks continue to see increased popularity right now. This is due to a variety of reasons including the increased price of cryptocurrencies like Bitcoin, DogeCoin, Ethereum, and more, as well as the influence of Reddit and meme stocks on the crypto world.

[Read More] 4 Hot Penny Stocks For Your Reopening Watch List In June 2021

While these penny stocks can be extremely volatile, understanding your investment strategy will always help to stay ahead of the game. With all of this in mind, which blockchain penny stocks are you watching right now?

Source: https://pennystocks.com/featured/2021/06/02/3-blockchain-penny-stocks-watch-crypto-pushes-up-june/

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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