Top 3 Blockchain Stocks to Buy in May

by Arthur · May 2, 2023

With the growing popularity of cryptocurrencies such as Bitcoin (BTC), as well as their underlying technology, many organizations around the world are now issuing blockchain shares, which give investors exposure to the crypto market without having to buy any digital assets directly.

While not all blockchain stocks are necessarily crypto stocks, they are closely related to digital assets, be it in the form of crypto exchanges or Proof-of-Work (PoW) miners, while others belong to large financial institutions or technology companies developing blockchain.

With this in mind, Finbold has scoured the market and compiled a list of some of the best blockchain stocks worth keeping an eye on in May as the fifth month of 2023 unfolds.

Table of Contents

Marathon Digital Holdings (NASDAQ: MARA)

In March, Marathon Digital Holdings (NASDAQ: MARA ) was one of the Bitcoin mining stocks that experienced a sharp price increase thanks to the growing interest in the flagship decentralized finance (DeFi). Moreover, at the beginning of April, the mining company declared a record BTC production in the 1st quarter of 2023.

At press time, the price of MARA stood at $8.78, indicating a whopping 145.25% growth since the beginning of the year, according to the latest charts obtained by Finbold on May 2.

*MARA creates 20, 50, 200-day SMA lines. Source: Finviz data. See more* *shares here*.

Notably, out of five analysts offering estimates for Marathon Digital, two give a “strong buy” recommendation, while three are in the “hold” position, giving the stock a “buy” rating

*Wall Street MARA 12-Month Price Prediction: Source:* *TradingView*

Coinbase (NASDAQ:COIN)

A popular crypto trading platform, Coinbase Global (NASDAQ: COIN ), has received a lot of attention in recent weeks due to its highly publicized opposition to the United States Securities and Exchange Commission (SEC) over its threats of enforcement actions, as well as the stock exchange brewing legal battle against the regulator.

Amidst all these developments, COIN stock has been trading at $50.14, recording a 41.68% increase since markets opened on January 3, 2023.

*COIN Stock 20, 50, 200-day SMA lines. Source: Finviz data. See more* *shares here*.

Interestingly, 11 out of 28 analysts recommend a “strong buy” for Coinbase, 10 suggest a “hold”, while two argue for a “sell”, and five are in a “strong sell”, giving COIN stock an overall “neutral “. ‘ assessment.

*Wall Street COIN 12 Month Price Prediction: Source:* *TradingView*

Mastercard (NYSE: MA)

Despite devoting a significant portion of its attention to building crypto partnerships, financial behemoth Mastercard Incorporated (NYSE: MA ) recently announced an increased focus on developing blockchain technology to underpin more efficient payment systems instead.

Since the turn of the year, the MA is up +29.9 or 8.54%, changing hands at the price of $379.86 at the time of publication, as the charts indicate.

*MA creates 20, 50, 200-day SMA lines. Source: Finviz data. See more* *shares here*.

At the same time, 28 out of 39 analysts who have issued stock ratings on Mastercard over the past three months have declared it a “strong buy”, with six suggesting a “buy”, five recommending a “hold” and none a “sell” or ‘strong seller.’

*Wall Street MA 12-Month Price Prediction: Source:* *TradingView*

That said, it’s important to do your own research when choosing stocks to invest in, as well as being vigilant – and the same goes for blockchain stocks, as the stock market, like its crypto counterpart, sometimes has a habit of surprising one unsuspecting investor, whether in a positive or negative way.

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Disclaimer: The content of this page should not be considered investment advice. Investment is speculative. When you invest, your capital is at risk.