Change of Tact Has Led to an Increase in the Utilization of Cryptocurrency
- FinancialBuzz.com News Commentary
NEW YORK, April 16, 2021 /PRNewswire/ -- A major portion of the economy has transitioned to remote, and for most companies it is still unclear how long it will take until the economy returns to pre-pandemic norms. As a result, several sectors in the technology industry have grown in demand. For example, cloud computing, digital payments and in particular the cryptocurrency and blockchain segments are back at the center of attention this year. As a result of the recent crypto boom, investors have once again started to view the new digital currencies as potential long-term investments necessary in a properly diversified portfolio. For example, this week, Coinbase shares closed at USD 328.28 in their Nasdaq debut on Wednesday, at which point the company's market cap reached USD 85.8 Billion on a fully diluted basis. Coinbase provides financial infrastructure and technology for the cryptoeconomy. Scienjoy Holding Corporation (NASDAQ: SJ), Square, Inc. (NYSE: SQ), Riot Blockchain, Inc. (NASDAQ: RIOT), Marathon Patent Group, Inc. (NASDAQ: MARA), Ebang International Holdings Inc. (NASDAQ: EBON)