Target shares sink after company slashes profit outlook second time in 3 weeks
Written by Adam Othman at The Motley Fool Canada
When most people think about investing in cryptocurrencies, the thought of Bitcoin (CRYPTO:BTC) is typically the first thing that comes to mind. Many people new to the cryptocurrency world often consider Bitcoin synonymous with crypto, not understanding that there is a wealth of other options out there.
Bitcoin is the world’s first cryptocurrency, and it led to the birth of a new and decentralized financial system slated to change the world. It is the most expensive crypto token out there due to its sheer popularity, limited supply, and interest from institutional investors.
Early Bitcoin investors have become millionaires, but it might no longer be the most profitable asset available in the crypto world right now. Investing in Bitcoin today cannot deliver the stellar returns early investors enjoyed.
The world’s first crypto is well past its glorious growth stage. Bitcoin trades for US$30,318.80 at writing. It is down by over 50% from its US$64,000 all-time high in November 2021. Scooping up Bitcoin at these levels could deliver substantial returns if it recovers to its highest levels.
It is undoubtedly trading at attractive levels for Bitcoin bulls. However, another cryptocurrency token might present you with a far better option if you want to enjoy superior returns: Solana (CRYPTO:SOL).
Bitcoin has been going through a rough period in the last few weeks, going down by a significant margin from its all-time highs. However, not all cryptocurrencies have been underperforming. 2021 saw Solana come out as one of the top performers in the crypto world.
Many reasons have been attributed to its meteoric rise. The advantages it offers over other cryptocurrencies like Bitcoin have made it increasingly popular.
Solana’s blockchain network boasts some of the fastest transaction processing speeds in the cryptocurrency industry, clocking in over 65,000 transactions per second. With the use of a more efficient validation protocol, the cryptocurrency’s blockchain takes a lot less time, consumes less energy, and reduces transaction costs.
Not everything is perfect about Solana. The cryptocurrency has gone through several outages that have hurt investor sentiment, but only to a small degree. The superior performance it offers in terms of fees and lower costs has allowed it to compete with larger cryptocurrencies like Bitcoin and Ethereum of late.
Solana is not just competing with Bitcoin. The innovative blockchain network has become a massive player in the non-fungible token (NFT) industry due to the advantages it offers over Ethereum. The blockchain platform’s faster transaction speeds and lower costs have made it a favourite among NFT enthusiasts.
Ethereum showed the world the potential of cryptocurrencies beyond a store of value and means of exchange. The underlying blockchain technology boasts plenty more use cases than Bitcoin offers. However, it still uses the same validation protocol as Bitcoin, translating to slower transaction times and higher fees.
Solana took the best of what the first cryptocurrencies offered and made them much better. Solana trades for $49.37 at writing, and it could reach far greater heights in the coming months. It might be a far cry from being able to reach levels similar to Bitcoin. However, it has the potential to deliver far superior returns than what you can expect from the world’s first cryptocurrency in the short term.
Remember that cryptocurrency investing entails a significant degree of risk. You should ideally invest only what you can afford to lose when allocating a portion of your investment portfolio to Solana or any other cryptocurrency.
The post 1 Cryptocurrency That Could Outperform Bitcoin in 2022 appeared first on The Motley Fool Canada.
Before you consider Bitcoin, we think you’ll want to hear this.
Our nearly S&P/TSX market doubling* Stock Advisor Canada team just released their top 10 starter stocks for 2022 that we believe could supercharge any portfolio.
Want to see if Bitcoin 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 4/14/22
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 Adam Othman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin, Ethereum, and Solana.
The agency wants to know if BNB was an unregistered token offering.
Pandemic-era drivers of inflation should cool and help the Fed avoid triggering a recession, Goldman's economists said.
Among its efforts, the crypto industry must establish a compliance-focused culture.
Since crypto’s drawdown in early May, investors in digital coins have been selling off tokens and buying Bitcoin at a pace not seen in almost a year.
Jamieson Wellness (TSX:JWEL) is one of many promising mid-cap stocks that may be worth a second look heading into a period of economic turbulence. The post 1 Top Mid-Cap Growth Stock Perfect for New Investors appeared first on The Motley Fool Canada.
NEW YORK (Reuters) -Amazon's stock split may provide some solace to shareholders who have seen the e-commerce giant's shares battered this year. Amazon shares were up 3.1% to $126.17 in afternoon trading after the 20-for-1 split, announced earlier this year but which took effect Monday. While a split has no bearing on a company’s fundamentals, it could help buoy its share price by making it easier for a wider range of investors to own the stock, market participants said.
Citigroup Inc plans to hire around 3,000 new staff for its Asia institutional business in the next few years, sharpening its focus in a fast-growing region where it has exited consumer banking in most markets, its Asia Pacific chief executive said. The previously unreported staff expansion plans underline Citi's ambition to make institutional banking and wealth management engines of growth, seeking to bolster revenue in a region that has become a battleground for global banks looking to tap its vast economies and growing wealth. Citi's institutional business includes investment banking, and corporate and commercial banking units that provide trade finance, cash management, payments, and custody services, among others.
TORONTO — Canada's main stock index inched higher to start the week with bond yields climbing to their highest level in more than three years on inflation concerns. The S&P/TSX composite index was up 28.36 points at 20,819.09. In New York, the Dow Jones industrial average was up 16.08 points at 32,915.78. The S&P 500 index was up 12.89 points at 4,121.43, while the Nasdaq composite was up 48.64 points at 12,061.37. The Canadian dollar traded for 79.59 cents US compared with 79.50 cents US on Fri
History was made in the Pho3nix Sub7 Sub8 Challenge when Kristian Blummenfelt became the first male to go under 7 hours and Kat Matthews became the first female to go under 8 hours in an iron distance triathlon. With the event encompassing a 3.8km swim, 180km bike and 42.2km run consecutively, Blummenfelt finished in a remarkable time of 06:44:25 with Matthews finishing in a staggering 07:31:54. In doing so, Kristian and Kat write their names in the history books of sporting achievements.
Leading luxury hospitality company Four Seasons Hotels and Resorts, and Gruppo Statuto, one of Italy's preeminent hotel development companies, announce that Four Seasons will assume management of the historic Hotel Danieli. Following extensive renovations, the property will be reintroduced as Hotel Danieli, Venezia, A Four Seasons Hotel in 2025.
Kering will outline plans to reinvigorate sales at its star label Gucci this week, throwing the spotlight on its approach in China – a key growth driver for leading luxury houses that has been hit by its new COVID lockdowns. Kering has recruited former Tiffany executive Laurent Cathala to run Chinese operations for Gucci, which provides more than half the group's total's revenue. Empowering local teams is key at a time when knowing your customer and understanding their culture is becoming increasingly important, according to Leaf Greener, a luxury brand consultant based in Shanghai.
SYDNEY (Reuters) -An Australian court on Monday ordered Google to pay a former lawmaker A$715,000 ($515,000), saying its refusal to remove a YouTuber's "relentless, racist, vilificatory, abusive and defamatory" videos drove him out of politics. The Federal Court found the Alphabet Inc company intentionally made money by hosting two videos on its YouTube website attacking the then-deputy premier of New South Wales, Australia's most populous state, that have been viewed nearly 800,000 times since being posted in 2020. The ruling revives the question of how much culpability technology firms have for defamation conveyed by users on their websites in Australia, one of few Western nations where online platforms have the same legal responsibility as publishers.
CHITTAGONG, Bangladesh (AP) — Authorities in Bangladesh struggled Monday to determine the cause of a devastating fire that killed at least 41 people, including nine firefighters, and injured more than 100 others at a shipping container storage depot, as experts raised concerns over the country's industrial safety standards. Efforts to fully extinguish the fire at the BM Inland Container Depot, a Dutch-Bangladesh joint venture near the country's main Chittagong Seaport, continued Monday after it
The U.S. dollar rose to a two-week high as rising U.S. Treasury yields supported the greenback, pushing the Japanese yen to its lowest level against the dollar in two decades. The yen dropped to a 20-year low of 133 per dollar, levels that had previously been highlighted as intervention territory, a day after central bank governor Haruhiko Kuroda reiterated an unwavering commitment to "powerful" monetary stimulus. The yen is sensitive to interest rate differentials between Japanese debt and U.S. bonds.
The European airline, in its statement on Sunday, said it was working to help customers rebook flights and find hotels. Flight-tracking website FlightAware https://flightaware.com/live/cancelled showed EasyJet canceled 98, or 5%, of its flights. Earlier in May, Easyjet had canceled over 200 flights due to airport delays and other restrictions impacting travel during school holidays.
Cybenergie announced the integration of DPOsolutions, audit, DPOaaS, CISOaaS, consulting services, specialized in information security, privacy and personal data protection, into its portfolio of services that improve the efficiency of the business and technical architecture of public and private organizations. DPOsolutions, with its expertise in data protection technologies remains independent and becomes a partner of Cybenergie. Cybenergie's new cybersecurity and privacy services will be opera
Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL) (NYSE: PBA) announced today that its Board of Directors has declared a common share cash dividend for June 2022 of $0.21 per share to be paid, subject to applicable law, on July 15, 2022 to shareholders of record on June 24, 2022. The common share dividends are designated "eligible dividends" for Canadian income tax purposes. For non-resident shareholders, Pembina's common share dividends should be considered "qualified dividen
TFSA investors can put their contribution room to work by picking up these valuable TSX stocks, including Canadian Utilities (TSX:CU). The post Want a Deal? Now Is a Great Time to Grab These TSX Stocks! appeared first on The Motley Fool Canada.
A sizeable passive-income stream can be put to many impactful uses, including slightly raising your standard of living. The post Passive Income: 3 Stocks That Could Earn You $32/Day appeared first on The Motley Fool Canada.
BEIJING (AP) — Diners returned to restaurants in most of Beijing for the first time in more than a month Monday as authorities further eased pandemic-related restrictions after largely eradicating a small COVID-19 outbreak in the capital under China's strict “zero-COVID” approach. Zhang Suyan said she called her friends and said “let's make a reservation” as soon as she heard that restaurants were opening again. “We don't have such an atmosphere or feeling at home,” she said as she and two frien
Target shares sink after company slashes profit outlook second time in 3 weeks