SmallCapPower | May 2, 2018: Relative Strength Index (RSI) is a measure of price momentum. High values above 70 indicate that a stock may be overbought, while low values below 30 indicate it may be oversold. In the last month, cryptocurrencies have seen consistent growth in their prices. Bitcoin and Ethereum have experienced substantial price increases of roughly 31% and 73%, respectively. If the five Canadian Blockchain stocks on our list today are considered oversold by the market, then they could experience a sharp upward reversal especially during an improving cryptocurrency market.
CryptoGlobal Corp. (TSXV:CPTO) – $0.50Cryptocurrency Mining
CryptoGlobal is a Canadian cryptocurrency miner operating in Ontario and Quebec. The Company currently operates 7,700 rigs and plans to expand to 10,000 by the end of 2018. CryptoGlobal plans to mine four of the Top-10 cryptocurrencies, namely Bitcoin, Ethereum, Litecoin, and Dash. On March 29, 2018, the Company completed the acquisition of Blockchain Dynamics, a cryptocurrency services platform, for $30M. The Company is currently being acquired by HyperBlock, a private cryptocurrency with a 20MW mining facility in the U.S.
Market Cap: $71.0 MillionRSI Simple – 14 Days: 50.0RSI Simple – 30 Days: 17.11 Month Total Return: N/AYTD Total Return: -36.5%CUV Ventures Corp. (TSXV:CUV) – $0.14Software & Blockchain
Cuba Ventures is a Canada-based travel and financial technology company operating in Cuba. The Company's travel division operates 432 Cuba-related websites, providing travel bookings through its partners in the region. The Company's Cuba FinTech division aims to use Blockchain technology in its Revolupay app, allowing for instant remittances.
Market Cap: $16.6 MillionRSI Simple – 14 Days: 38.9RSI Simple – 30 Days: 35.21 Month Total Return: -30.8%YTD Total Return: -59.1%Novateqni Corp. (TSXV:NTQ) – $0.11Electronic Equipment & Parts
Novateqni provides solutions for voter registration, voter validation, biometrics and financial transactions. The recent introduction of NovaVolt solutions will progress the Company's initiative to incorporate Blockchain technology onto its solar-power solutions. Green energy will be provided to households on a pay-per-use or pre-paid basis with the use of Blockchain for token transfer. Additionally, the Company has won a long-term supply agreement with the United Nations Development Programme for its solar systems.
Market Cap: $4.0 MillionRSI Simple – 14 Days: 30.0RSI Simple – 30 Days: 40.41 Month Total Return: -19.2%YTD Total Revenue: -56.3%Victory Square Technologies Inc. (CSE:VST) – $1.53Investment Management & Fund Operators
Victory Square is a venture fund focused on an array of technologies including Blockchain, virtual reality, artificial intelligence, gaming, FinTech and health space. The Company acts as an incubator for new technologies, giving subsidiaries and partners access to distribution partners, workspaces, resources and operational support. The Company's 100% owned investment, FansUnite Entertainment, provides Blockchain technology for sports betting industries and plans to launch a $10M Initial Coin Offering this summer.
Market Cap: $95.5 MillionRSI Simple – 14 Days: 52.1RSI Simple – 30 Days: 35.11 Month Total Return: -25.4%YTD Total Revenue: -50.2%VitalHub Corp. (TSXV:VHI) – $0.14Investment Holding Companies
VitalHub creates SaaS-based healthcare applications utilizing web, mobile, and Blockchain technology. The Company's platform includes an Electronic Medical Records (EMR) system, which aggregates and retrieves patient data from multiple clinical information systems. VitalHub's regulatory solutions eliminate the need for middlemen organizations, which reduce costs and improve efficiency, privacy and security of siloed healthcare databases. The Company operates a Software-as-a-Service (SaaS) model, offering renewable software licences (termed or annual), in addition to maintenance and consulting services. The Company is currently integrating its platform with Blockchain solutions.
Market Cap: $10.8 MillionRSI Simple – 14 Days: 45.5RSI Simple – 30 Days: 38.51 Month Total Return: -15.2%YTD Total Revenue: -24.3%Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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