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Best Cryptocurrency Stocks To Follow Today - August 8th

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Key Points

  • Seven cryptocurrency stocks, including Robinhood, Galaxy Digital, and Bitfarms, are recommended for investors looking to gain exposure to the crypto sector without directly holding digital currencies.
  • Robinhood Markets, with a market cap of $101.66 billion, recently experienced a trading volume of over 24 million shares, indicating increased market activity despite previous earnings dips.
  • Galaxy Digital Holdings, involved in multiple segments related to digital assets, saw its stock price reach $26.88 with solid trading volume, reflecting its growing presence in the cryptocurrency investment space.
  • Looking to Export and Analyze Robinhood Markets Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Robinhood Markets, Galaxy Digital, BTCS, Bit Origin, Bitfarms, Bitdeer Technologies Group, and HIVE Digital Technologies are the seven Cryptocurrency stocks to watch today, according to MarketBeat's stock screener tool. Cryptocurrency stocks are shares of publicly traded companies whose primary business involves digital assets, blockchain technology, or cryptocurrency mining and trading. By buying these equities, investors gain exposure to the performance and growth of the crypto sector without directly holding digital currencies. Their share prices often move in tandem with broader crypto market trends but also carry traditional stock‐market risks and company-specific factors. These companies had the highest dollar trading volume of any Cryptocurrency stocks within the last several days.

Robinhood Markets (HOOD)

Robinhood Markets, Inc. operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.

Shares of Robinhood Markets stock traded up $3.58 during trading on Friday, reaching $114.81. The company's stock had a trading volume of 24,524,170 shares, compared to its average volume of 41,746,215. The business has a 50 day moving average price of $90.33 and a 200-day moving average price of $63.55. The company has a market capitalization of $101.66 billion, a P/E ratio of 58.34, a price-to-earnings-growth ratio of 4.03 and a beta of 2.36. Robinhood Markets has a 12-month low of $17.55 and a 12-month high of $117.00.

Read Our Latest Research Report on HOOD

Galaxy Digital (GLXY)

Galaxy Digital Holdings Ltd. is a financial services and an investment management company, which engages in the digital asset, cryptocurrency, and block chain technology sectors. It operates through the following segments: Trading, Principal Investment, Asset Management, Investment Banking, Mining, and Corporate & Other.

GLXY traded down $1.21 during trading on Friday, reaching $26.88. 4,859,948 shares of the stock were exchanged, compared to its average volume of 3,118,451. The stock's 50 day moving average price is $22.76. Galaxy Digital has a 1 year low of $8.20 and a 1 year high of $33.17.

Read Our Latest Research Report on GLXY

BTCS (BTCS)

BTCS Inc. operates in blockchain technology sector the United States. Its blockchain-infrastructure secures and operates validator nodes on disruptive blockchain networks, as well as validates transactions for crypto holding delegations on dPoS blockchains. The company offers StakeSeeker, a cryptocurrency dashboard and staking-as-a-service platform that allows crypto asset holders to earn rewards by participating in network consensus mechanisms; and Builder+, a Ethereum block builder offered to maximize validator earnings by utilizing algorithms to construct optimized blocks for on-chain validation.

Shares of BTCS traded down $0.02 during trading hours on Friday, reaching $4.49. 4,473,772 shares of the company traded hands, compared to its average volume of 3,651,812. The stock has a market capitalization of $104.59 million, a PE ratio of -2.63 and a beta of 1.17. BTCS has a fifty-two week low of $0.95 and a fifty-two week high of $8.49. The stock has a fifty day simple moving average of $3.63 and a 200 day simple moving average of $2.69.

Read Our Latest Research Report on BTCS

Bit Origin (BTOG)

Shares of NASDAQ BTOG traded up $0.05 on Friday, reaching $0.48. 39,268,800 shares of the company traded hands, compared to its average volume of 33,658,777. Bit Origin has a fifty-two week low of $0.12 and a fifty-two week high of $3.09. The company has a 50 day moving average of $0.29 and a 200 day moving average of $0.29.

Read Our Latest Research Report on BTOG

Bitfarms (BITF)

Bitfarms Ltd. engages in the mining of cryptocurrency coins and tokens in Canada, the United States, Paraguay, and Argentina. It owns and operates server farms that primarily validates transactions on the Bitcoin Blockchain and earning cryptocurrency from block rewards and transaction fees. The company also provides electrician services to commercial and residential customers in Quebec, Canada.

Shares of NASDAQ BITF traded down $0.04 during midday trading on Friday, hitting $1.25. The stock had a trading volume of 9,535,223 shares, compared to its average volume of 25,736,789. The company has a quick ratio of 2.58, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. Bitfarms has a 1-year low of $0.67 and a 1-year high of $2.76. The company has a fifty day moving average price of $1.01 and a 200 day moving average price of $1.08. The company has a market capitalization of $694.15 million, a price-to-earnings ratio of -6.55 and a beta of 3.50.

Read Our Latest Research Report on BITF

Bitdeer Technologies Group (BTDR)

Bitdeer Technologies Group operates as a technology company for blockchain and computing. It offers hash rate sharing solutions, including Cloud hash rate and Hash rate marketplace; and a one-stop mining machine hosting solutions encompassing deployment, maintenance, and management services for efficient cryptocurrency mining; as well as mines cryptocurrencies for its own account.

NASDAQ BTDR traded down $0.56 during trading hours on Friday, hitting $12.38. The company had a trading volume of 869,535 shares, compared to its average volume of 5,430,442. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -3.04 and a beta of 2.23. Bitdeer Technologies Group has a fifty-two week low of $5.40 and a fifty-two week high of $26.99. The firm's 50 day moving average is $12.97 and its 200 day moving average is $12.59.

Read Our Latest Research Report on BTDR

HIVE Digital Technologies (HIVE)

HIVE Digital Technologies Ltd. operates as a cryptocurrency mining company in Canada, Sweden, and Iceland. The company engages in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin, and other coins. It also operates data centers; and offers infrastructure solutions. The company was formerly known as HIVE Blockchain Technologies Ltd.

HIVE stock traded down $0.04 during trading on Friday, reaching $2.07. The stock had a trading volume of 4,954,590 shares, compared to its average volume of 14,596,421. The company has a market capitalization of $471.52 million, a P/E ratio of -5.74 and a beta of 3.41. HIVE Digital Technologies has a 1-year low of $1.26 and a 1-year high of $5.54. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $2.06 and a 200 day moving average price of $2.04.

Read Our Latest Research Report on HIVE

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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