The Top Cryptocurrency You Need to Buy in April – Yahoo Canada Finance

U.S. business activity decelerates in April as inflationary pressures weigh on spending
Written by Aditya Raghunath at The Motley Fool Canada
The equity markets are expected to remain volatile in 2022 given the Federal Reserve is on track to increase interest rates six times this year. Investors have already started liquidating stocks trading at a steep valuation and are reassessing the underlying multiples.
Similar to growth stocks, the cryptocurrency market has also experienced a pullback. Despite the widespread adoption of these digital assets, the crypto space is still at a nascent stage, resulting in unpredictable price movements.
The two cryptocurrencies by market cap, Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH) are down 40% from all-time highs, making them attractive to the contrarian investor. While I am bullish on the long-term prospects of cryptos, you need to allocate just a small portion of your capital (between 3% and 5%) towards this disruptive asset class.
Let’s see why Solana (CRYPTO:SOL) should be part of your cryptocurrency portfolio right now.
Similar to Ethereum, Solana’s blockchain network is also designed to support dApps (decentralized applications). These applications allow peer-to-peer interaction without any intermediary. Ethereum remains the most popular network to host dApps but Solana is fast gaining traction in this space.
Solana was launched in 2020 and the SOL token is up 10,570% in less than two years. One of the key catalysts for the uptick in the prices of SOL is the speed of the blockchain network. Currently, the Solana network can process 65,000 transactions per second compared to Ethereum, which can process between 15 and 30 transactions per second.
Solana validates transactions using a PoS, or proof-of-stake, mechanism, where developers stake the SOL token to complete the validation process. Further, it also uses the proof-of-history concept where timestamps are embedded into transactions, accelerating the validation process. Due to its robust validation mechanism, Solana’s gas fees are just a fraction of a penny, making it an ideal bet for micro-transactions and NFTs.
Due to its staggering returns, Solana is among the 10-largest cryptocurrencies in the world, valued at US$33.2 billion by market cap. However, SOL is currently trading 60% below all-time highs.
While it’s difficult to value cryptocurrencies, you can analyze staking rewards provided by the underlying blockchain network. Solana pays a staking reward of 5.8% compared to Ethereum’s reward of 4.8%. Solana deducts a 9.8% fee from the reward compared to Ethereum’s fee of 10.9%. However, the adjusted reward for Solana, which accounts for the growth in token supply, is just 0.94% compared to Ethereum’s adjusted reward percentage of 4.36%.
There are several projects built on the Solana blockchain including the recently announced Solana Pay, which is a decentralized peer-to-peer payments solution. The dApp will enable real-time settlement of funds at a low cost, which is extremely beneficial to merchants.
It will be almost impossible for Solana to replicate its historical gains. But as additional projects are onboarded on its blockchain network, the demand for the SOL token is bound to increase, allowing investors to derive market-beating returns over time.
The post The Top Cryptocurrency You Need to Buy in April appeared first on The Motley Fool Canada.
Before you consider Solana, we think you’ll want to hear this.
Our S&P/TSX market doubling Stock Advisor Canada team just released their top 10 starter stocks for 2022 that we believe could be a springboard for any portfolio.
Want to see if Solana made our list? Get started with Stock Advisor Canada today to receive all 10 of our starter stocks, a fully stocked treasure trove of industry reports, two brand-new stock recommendations every month, and much more.
See the 10 Stocks * Returns as of 1/18/22
More reading
15 Top Stock Picks for 2022
14 Top TSX Stock Picks for January 2022
3 Canadian Stocks to Buy for Monthly Passive Income
TFSA Passive Income: How to Earn $346 Per Month Tax Free for Life
4 Cheap Canadian Stocks That You Can Buy Under $30
Two New Stock Picks Every Month!
Fool contributor Aditya Raghunath has no position in any of the stocks mentioned. The Motley Fool owns and recommends Bitcoin and Ethereum.
SEATTLE (AP) — A surge in robberies at licensed cannabis shops — including a pistol-whipping, gunshots and killings in Washington state last month — is helping fuel a renewed push for federal banking reforms that would make the cash-dependent stores a less appealing target. “It makes absolutely no sense that legal businesses are being forced to operate entirely in cash, and it’s dangerous — and sometimes even fatal — for employees behind the register,” Washington Sen. Patty Murray, the third-ran
Given their stable cash flows and healthy growth potential, these three dividend stocks would be excellent for beginners. The post 3 Top Dividend Stocks for Beginners appeared first on The Motley Fool Canada.
Barrick Gold (TSX:ABX)(NYSE:GOLD) and another commodity stock can help hedge your RRSP retirement fund, as inflation kicks it up a notch. The post Stellar Commodity Stocks to Diversify Your RRSP appeared first on The Motley Fool Canada.
Lukoil did not say why Alekperov, 71, resigned or who would take over. Britain imposed an asset freeze and travel ban on Alekperov last week as part of sanctions over Russia's military operation in Ukraine.
Constellation (TSX:CSU) stock has earnings coming out soon and continues to make some strong acquisitions, with management announcing big plans for 2022. The post Why Constellation Software Stock Is a Must Buy Ahead of Earnings appeared first on The Motley Fool Canada.
"Because customers' aspirations have evolved, expression of modernity and enhancement is today carried by other shapes (and) the way of thinking mobility is changing, C4 Grand SpaceTourer is now bowing out", the brand said in a statement. In France, minivan sales fell almost to zero in the first quarter as SUVs claimed the lion's share at 46% of new car registrations, racing with traditional sedans which bring in 47% of sales. Production of the C4 Grand SpaceTourer at the plant located in Vigo, Spain, will stop at the beginning of July after current orders are delivered, Stellantis added in a press release.
U.S. business activity slowed in April as soaring costs for raw materials, fuel and labor pushed input prices to a record high, according to a survey on Friday, which also showed an ebb in sentiment at the start of the second quarter. S&P Global said its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, fell to a reading of 55.1 this month from 57.7 in March. A reading above 50 indicates growth in the private sector.
Tesla Inc's eye-popping profit margin has raised doubts among Wall Street analysts if the company would be able to keep at it amid rising commodity costs and higher expenses to increase production. The world's most valuable automaker pocketed a hefty 32.9% margin, more than double that of legacy firms including General Motors, Ford Motor Co and Stellantis, who too have been spending heavily for a share of the lucrative electric vehicle market. Tesla's record margin that came on the back of higher prices is powering a nearly 9% rise in Tesla's stock price on Thursday and has led at least five analysts to raise their price target, but with a warning.
The Federal Court fined Westpac A$40 million for one of the six cases, related to charging advice fees to over 11,800 deceased customers in the latest hearing, the Australian Securities and Investments Commission (ASIC) said on Friday. ASIC's legal actions that were initiated in November include the lender's compliance failures across its banking, superannuation, wealth management and insurance business over many years. Australia's financial sector has faced intense scrutiny since a Royal Commission inquiry in 2018 found widespread shortcomings across the industry, with charging the dead among the most common and damaging revelations.
These two top Canadian stocks are some of the best growth stocks to own long term thanks to their impressive execution and their adoption of new tech. The post 2 Canadian Stocks That Have Been Soaring Thanks to Their Tech appeared first on The Motley Fool Canada.
The Ontario Energy Association (OEA) commends the Ministry of Energy for launching an expert panel to provide advice to the Minister on various issues related to comprehensive integrated long-term energy planning in Ontario, including achieving a successful transition to a clean energy economy.
TORONTO — On a day when the Federal Reserve spooked markets with its tough talk on interest rates, Bank of Canada governor Tiff Macklem says he won’t "rule anything out" when it comes to the central bank’s own interest rate path and taming Canada’s out-of-control inflation. Macklem spoke to reporters virtually Thursday from Washington, D.C. where he is attending meetings of the International Monetary Fund and World Bank Group, as well as meetings of G7 and G20 central bank governors and finance
Germany's industrial heavyweights are teaming up to retrain workers in areas such as software and logistics to fill a growing skills gap and avoid layoffs among workers of all ages as the economy shifts to clean energy and online shopping. More than 36 major companies, ranging from auto suppliers such as Continental and Bosch to industrial firms BASF and Siemens, have agreed to coordinate on redundancies at one firm and vacancies at another, training workers to move directly from job to job.
Pembina Pipeline (TSX:PPL) stock could add considerable passive income to your portfolio. The post 3 Stocks to Quickly Inject Your Portfolio With Passive Income appeared first on The Motley Fool Canada.
(TSX: LUC) (BSE: LUC) (Nasdaq Stockholm: LUC)
When Japan's biggest banks helped finance a $34 billion deal last year for medical supply maker Medline, one of the largest leveraged buyouts since the financial crisis, the famously cautious lenders signalled their ambitions in riskier, and more lucrative, low-grade U.S. debt. Mitsubishi UFJ Financial Group Inc, Mizuho Financial Group Inc and Sumitomo Mitsui Financial Group Inc, eagerly hunting yield abroad after years of zero rates at home, have beefed up U.S. operations and are now targeting business there lending to lower-rated borrowers and underwriting junk bonds. But their timing – when interest rates are rising and the high-yield debt market is slowing – means they will face increasing risks and dwindling opportunities, testing their staying power.
The Canadian dollar weakened against its U.S. counterpart on Thursday, pulling back from an earlier two-week high, as hawkish comments by Federal Reserve Chair Jerome Powell pressured U.S. equity markets. The Canadian dollar was trading 0.7% lower at 1.2580 to the greenback, or 79.49 U.S. cents, after earlier touching its strongest level since April 5 at 1.2459. "The Canadian dollar is getting knocked pretty hard," said Erik Bregar, director, FX & precious metals risk management at Silver Gold Bull.
Magna Gold Corp. (TSXV: MGR) (OTCQB: MGLQF) ("Magna" or the "Company"), is pleased to report the maiden mineral resource estimate (the "Resource") for the Margarita silver deposit at its 100% owned Margarita Project (the "Margarita Project") in Chihuahua, Mexico.
Lactalis Canada, the Canadian dairy leader behind iconic brands like Cracker Barrel, Black Diamond, Balderson, Astro and Lactantia and a subsidiary of France-based Lactalis Group, is excited to unveil Lactalis Canada NEXT Ventures – an innovation program designed to spur and accelerate future thinking, innovation and creativity by empowering employees and leveraging internal crowdsourcing to explore ideas and bring to market new products, processes, technologies or business models. Launching tod
Melvin, which lost nearly $7 billion early last year by betting on stocks like GameStop would tumble, is targeting a size of between $4.5 billion-$5 billion and told investors that its maximum total assets under management should remain between $6.5 billion and $7 billion until June 2027, when this threshold could be changed, the source said. To remain within this limit, Melvin intends to return capital to investors every time it reaches $7 billion for more than 90 consecutive days, according to the source who did not want to be identified because the discussions are private. Gabe Plotkin, the founder of Melvin, had been betting since 2014 that GameStop shares would tumble as the world shifts away from the brick-and-mortar video retailer's offerings.


Enable Exclusive OK No thanks