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The concept of blockchain has been active recently. Within ten minutes before the closing of last Friday, many concept stocks including Accurate Information, Xinchen Technology, Yijian Shares, and Chenxin Technology quickly reached their daily limit. At the opening of the market on Monday, many blockchain concept stocks collectively opened higher, but subsequently weakened.

Yesterday, blockchain concept stocks made a comeback and strengthened again. Prior to this, two blockchain concept stocks had shown continuous upward trend, namely Kelan Software and Hengyin Financial. Kelan Software suddenly reached the daily limit last Tuesday without any good sign, and then it reached the daily limit 4 times in a row. On the other hand, Evergreen Financial raised the daily limit in a straight line in early trading last Thursday, and then went out of the daily limit three times in a row.

Kelan Software itself is also at a loss as to the reasons for the continuous price limit. It issued a change announcement on June 21, stating that "there is no information that should be disclosed but has not been disclosed." Evergreen Financial does not want to take advantage of the hot topic of blockchain. In the change announcement, it stated that "the company has no substantial research and development activities on blockchain-related technologies. Blockchain-related technologies have not formed any related products or applications or sales in the company." Evergreen Financial opened at the limit yesterday. However, as the blockchain concept gained momentum during the session, the company's stock price quickly rose again.

Bitcoin triples in value this year

The strength of blockchain stems from the recent surge in Bitcoin. Starting from June 14, Bitcoin ended the range consolidation between US$7,000 and US$8,000 since late May and started a new round of rise. Last weekend, Bitcoin successfully broke through the US$10,000 mark. After a three-day break, Bitcoin continued to rise, with an increase of over 6% the day before and another increase of over 6% yesterday. The intraday increase was nearly 10%, and it successfully stood at US$12,000 and launched an impact on the US$13,000 mark.

Bitcoin bottomed at $3,122.3 late last year, ending a year-long bear market. Since the beginning of this year, Bitcoin has been on the rise, with an increase of 28% in April, 62% in May, and nearly 50% in June. As of now, the price of Bitcoin has more than tripled from last year’s lowest point.

Analysts believe that this round of Bitcoin’s rise is mainly due to the good news about well-known companies’ participation in the cryptocurrency market, which has increased market enthusiasm and enhanced investors’ confidence in cryptocurrency. Facebook has signed up well-known companies such as Mastercard, Visa, PayPal and Uber to launch a cryptocurrency next year.

In addition, expectations that the Federal Reserve is likely to cut interest rates have stimulated capital inflows. According to media reports, the possibility of the Federal Reserve cutting interest rates in July has increased, and the U.S. dollar exchange rate has fallen further, which is good news for Bitcoin.

Blockchain concept stocks have generally performed poorly in the past two months.

For blockchain concept stocks, the good thing this year is not only the surge in Bitcoin, but also the first batch of blockchain information service names and registration numbers were issued on March 30 this year. Affected by the news, blockchain concept stocks surged on April 1, with more than 20 concept stocks hitting their daily limit that day.

However, the rise was not sustainable. Statistics from Securities Times·Databao found that among more than 50 blockchain concept stocks, only 9 latest closing prices were higher than the closing price on April 1, while more than 40 individual stock prices It has been lower than the price on April 1, with 17 companies falling by more than 20%.

The one with the best increase was Jinyi Technology, which increased by more than 50% compared with the closing price on April 1. The company announced last year that it would conduct research on ETC and transportation big data blockchain with professional institutions. The current share price of Zhongyuan Shares has increased by more than 20% compared to the price on April 1. The company's subsidiary Shixuan Technology is exploring the practice and application of blockchain technology in the medical field.

The biggest decliner was Shenzhen Chase. Due to the impact of violent anti-law incidents, the stock price has plummeted by nearly 50% compared with April 1. Hailian Jinhui's trend is also not good, with a decline of more than 40%. It is worth noting that the company's "Hailian Jinhui Supply Chain Service System" service platform has obtained the first batch of blockchain information service registrations.

From the perspective of performance, among the above-mentioned blockchain concept stocks, only four companies, namely Guardone, Jinyi Technology, Xinguodu, and Tianguang Zhongmao, have released semi-annual report previews. It is expected to turn around losses, Guardong predicts loss reduction, and Tianguang Zhongmao predicts first loss.

Judging from the performance of the first quarter report, the performance of 8 concept stocks including Royal Bank, Hundsun Electronics, and Xinguodu doubled. Compared with last year's semi-annual report, Databao statistics found that the performance of nine stocks, including Hang Seng Electronics, Baofeng Group, Annie Holdings, Yuyin Holdings, Zhongke Financial, and Xinguodu, this year's first quarter report was better than last year's semi-annual report.

From a valuation perspective, 17 of the blockchain concept stocks have a rolling price-to-earnings ratio of less than 40 times, and 13 of them have increased by less than 50% this year. Thalys was the only stock whose stock price fell during the year, with a drop of nearly 10% during the year. In May this year, the company announced its cooperation with Ant Financial’s blockchain company in the blockchain medical field. Shengguang Group’s growth during the year was only 3%. The company stated on its interactive platform that it has blockchain-related technologies.