Cryptocurrencies are the newest craze. With Bitcoin approaching $19,000 and other cryptocurrencies like Ethereum and Litecoin making massive runs for the top, it only makes sense that there’s quite a bit of excitement around the industry. However, if you’re only looking at the cryptocurrencies themselves, you’re missing the mark. The massive growth is causing gains in tech and financial companies that are dabbling in the world of blockchain. For example Digital Power Corporation (NYSEAMERICAN: DPW), Longfin Corp (NASDAQ: LFIN), and On Track Innovations Ltd (NASDAQ: OTIV) have all made impressive runs on cryptocurrency news. Today, we’ll talk about their stories and what we’ll be watching for ahead.
DPW Continues Upward
Digital Power Corporation has been on an upward trend for a couple of weeks now. It all started when the company announced that its subsidiary, Coolisys, would be releasing a line of advanced power solutions for the mining of cryptocurrencies.
From there, the company quickly announced that it has created a cryptocurrency mining division. In this division, DPW plans on mining the top 10 cryptocurrencies through a collaboration that will lead to hundreds of cryptocurrency mining farms around the world. While DPW isn’t seeing massive gains today, it has seen them in recent sessions, and it is still trading in the green as the rise continues.
LFIN Climbs On Cryptocurrency Acquisition
Late last week, Longfin Corp announced that it has acquired Ziddu.com. Ziddu.com is a blockchain-empowered system for microfinance and cross-border transaction. Through the service, the company will charge interest in an amount ranging from 12% to 48%, depending on the risk associated with the deal. Nonetheless, LFIN is climbing as a result. In fact, the stock is currently the biggest gainer on the NASDAQ today. Currently (11:59), LFIN is trading at $126.66 per share after a gain of $104.65 per share (475.47%) thus far today.
OTIV Gains On Bitcoin News
Finally, On Track Innovations is seeing strong gains in the market today after announcing that it would be incorporating bitcoin into its cashless payment solutions. Like Longfin, OTIV is seeing massive gains as a result of the news. In fact, the stock is currently trading at $2.09 per share after a gain of $1.06 per share (102.91%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on DPW, LFIN, OTIV, and the rest of the tech and finance market for further cryptocurrency-related opportunities. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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