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Wednesday has shaped up to be a good day on the market, and these S&P/ASX 300 Index (ASX: XKO) shares are revelling in the green.

In fact, they’ve each jumped to new multi-year record highs today.

Right now, the ASX 300’s performance is beating that of its more renowned peer, the S&P/ASX 200 Index (ASX: XJO). The former has gained 0.25% while the latter is recording a 0.19% increase.

So, which of the ASX 300’s constituents are pushing it higher today? Let’s take a look.

3 ASX 300 shares trading at long-forgotten heights today

Ampol Ltd (ASX: ALD)

The Ampol share price hit a new post-pandemic high on Wednesday, surging 3.5% to trade at $32.80.

There’s been no news to explain the ASX 300 fuel and convenience retailer’s gains today. Though, it did release an exciting update regarding an acquisition yesterday.

Then, the company announced its takeover of Z Energy Ltd (ASX: ZEL) has been given the green light from New Zealand’s Overseas Investment Office.

It follows from the New Zealand Commerce Commission’s approval of the sale of Ampol’s Gull business, handed down last week.

Iluka Resources Limited (ASX: ILU)

The Iluka Resources share price is also in the green today. The ASX 300 resource explorer’s share price reached a new all-time high of $12.83 in early morning trade, representing a 3.2% gain.

The increase followed news the company intends to spin off its Sierra Rutile business.

If the demerger is successful, the newly-listed Sierra Rutile will focus on mineral sands projects in West Africa.

Capricorn Metals Ltd (ASX: CMM)

Finally, the Capricorn Metals share price is hitting another all-time high on Wednesday. It leapt 1.3% to reach a new record of $4.45.

While there’s been no news from the gold producer this week, it did announce encouraging early assay results on Friday.

Additionally, the price of gold has been gaining lately, likely bolstering sentiment in the ASX 300 gold stock’s share price.

However, the gold spot price has slipped into the red on Wednesday, trading 0.3% lower at US$1,969.20 per ounce, according to data from CNBC.

The post 3 ASX 300 shares smashing new multi-year highs on Wednesday appeared first on The Motley Fool Australia.

More reading

• ASX 200 midday update: AVZ and EML shares jump
• Iluka Resources share price marching higher on demerger news
• Should you buy Iluka or Lynas shares for rare earths exposure?
• 3 ASX All Ordinaries mining shares smashing 52-week highs today
• Top brokers name 3 ASX shares to buy next week

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) has defied weakness on Wall Street and is pushing higher. The benchmark index is currently up 0.1% to 7,462.1 points.

Here’s what is happening on the ASX 200 today:

AVZ shares jump on Manono lithium update

The AVZ Minerals Ltd (ASX: AVZ) share price is racing higher today after releasing an update on the Manono Lithium and Tin Project in the Democratic Republic of the Congo. AVZ revealed that it has now received a positive technical opinion from the Department of Mines. This paves way for an imminent decision on the award of a mining licence for its flagship project.

EML jumps on takeover talks

The EML Payments Ltd (ASX: EML) share price is rocketing higher after the payments company confirmed that it has been in takeover talks. EML revealed that earlier this year, the company held talks with private equity firm Bain Capital. However, no deal was agreed and talks have since ended. This appears to have spooked short sellers, which may have led to a short squeeze today. At the last count, EML was one of the most shorted ASX 200 shares with short interest of ~9.5%.

Iluka to demerge Sierra Rutile operations

The Iluka Resources Limited (ASX: ILU) share price is rising today after announcing demerger plans. According to the release, Iluka notes that demerging the West African mineral sands operation will allow the company to focus on its core activities and growth opportunities in Australia. It also believes that a demerger represents the optimal pathway for Sierra Rutile to reach its full potential.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Wednesday has been the EML share price with a 12% gain following confirmation of failed takeover talks with Bain Capital. Going the other way, the worst performer has been the Adbri Ltd (ASX: ABC) share price with a 4% decline. This morning Morgan Stanley downgraded the building products company’s shares to an equal-weight rating from overweight.

The post ASX 200 midday update: AVZ and EML shares jump appeared first on The Motley Fool Australia.

More reading

• 3 ASX 300 shares smashing new multi-year highs on Wednesday
• Top broker warns this ASX 200 share may be next to issue a profit warning
• Iluka Resources share price marching higher on demerger news
• AVZ Minerals share price shoots 10% higher on Manono Lithium project update
• Takeover talks: EML share price in focus

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended EML Payments. The Motley Fool Australia owns and has recommended EML Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares in Flight Centre Travel Group Ltd (ASX: FLT) are walking forwards today and now trade 2 percentage points higher at $20.15.

As airlines get their first major test since the lifting of major COVID-19 restrictions, there’s been somewhat of pandemonium at Sydney Airport, reports say.

Talks of long queues and equally as long waiting times have been circling around the media, but nevertheless, the images of endless foot traffic are signs people are flying again.

Are travel conditions warming up?

Despite the wind down in operating activity, Flight Centre appears to be heading back towards its pre-pandemic outcome measures.

Today it advised it purchased an additional 47.5% interest in travel technology business, TP Connects.

Flight Centre originally took a 22.5% stake in the Dubai software-as-a-service (SaaS) business back in February 2020, then advised its intention to up its interest in TP Connects from 22.5% to 70% roughly one year later.

Although, we won’t know the particulars of the deal, as “the terms of [its] investment are currently confidential and are not disclosed,” the company says.

“[Flight Centre] initially invested in TPC in February 2020 with a view to supercharging the development
of TPC’s innovative technology platform, which aims to shape the future of travel distribution
by aggregating content from multiple sources,” it remarked.

With the latest acquisition in place, the company looks to be capitalising on any potential upside from flight bookings.

Speaking to Sky News this morning, Flight Centre CEO Graham Turner acknowledged that whilst there’s been airport delays, current trends are encouraging.

“Talking to Sydney Airport and Qantas, they seem to think they will be able to sort this [delays etc] out reasonably quickly,” he said.

“[T]he good news is that so many people are travelling of course – it’s certainly a relief after the last couple of years.”

Flight Centre shares have spiked 11% in the last year and are up 14% this year to date.

The post What’s impacting the Flight Centre share price today? appeared first on The Motley Fool Australia.

More reading

• Why is the Flight Centre share price still the most shorted on the ASX?
• These are the 10 most shorted ASX shares
• What went so wrong for ASX travel shares today?
• The Flight Centre share price is diving 5% today. What’s next in April?
• ASX travel shares have been flying higher over the past month. Here’s why

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Corporate earnings have proven to be resilient during these turbulent times, but there may be an S&P/ASX 200 Index (ASX: XJO) share that is about to issue a profit warning.

The company in question is cement and lime producer Adbri Ltd (ASX: ABC), according to Morgan Stanley.

The broker’s pessimistic view follows a profit warning issued by Boral Limited (ASX: BLD) due to adverse weather. Higher energy costs were another headwind.

Dark clouds over the Adbri share price

The devastating floods in New South Wales and Queensland were a blow to the sector. Plus, the bad weather could persist for a while yet — and the same could be true for energy costs.

“The five capital cities collectively recorded higher numbers of rain days in the quarter ending Mar 22 vs prior year’s corresponding period,” Morgan Stanley said.

“The increase in rain days was primarily driven by a wet February and March, particularly in Sydney and Brisbane, which have so far recorded 37 and 23 rain days respectively.”

Not all ASX 200 building shares are built the same

The broker reckons Adbri is most at risk. This is because of its exposure to construction material, which is most impacted by the weather.

What’s more, NSW and Queensland account for around 36% of Adbri’s earnings. For these reasons, Morgan Stanley has cut its FY22 earnings before interest and tax forecast by 5% to $213 million.

This, in turn, prompted the broker to downgrade the Adbri share price to “equal-weight” from “overweight”. It also lowered its 12-month price target to $3.40 from $3.60 a share.

On higher ground but also facing headwinds

On the flipside, the broker believes the CSR Limited (ASX: CSR) share price is better placed to weather the storm. It says strong housing activity offers CSR better protection in the short term.

“We believe that the building products end of the spectrum will be better able to smooth wet weather impacts,” added Morgan Stanley.

“However, we believe the near-term upside is largely reflected in the current share price, with ~9% upside to our A$6.60 PT [price target].

“Interest rates are likely to create a sentiment headwind as CY22 progress and prompt medium-term caution.”

The broker has an “equal-weight” rating on the CSR share price.

What is priced in the Boral share price

As for the Boral share price, market expectations have been rebased following its disappointing market update.

But this doesn’t mean investors should be rushing out to buy its shares either, noted Morgan Stanley.

“In spite of the recent earnings downgrade and short-term challenges, we see opportunity from improving macro dynamics, cost-out and property,” said the broker.

“We believe all of this has been priced in, and as a result, BLD currently trades only 5% above our price target of A$3.20.”

Morgan Stanley’s rating on the Boral share price is “equal-weight”.

The post Top broker warns this ASX 200 share may be next to issue a profit warning appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• Here are the top 10 ASX shares today
• What was the highest ever AGL Energy share price?
• 3 ASX 200 shares sliding to 52-week lows on Tuesday
• Here are the 3 most heavily traded ASX 200 shares on Tuesday

Motley Fool contributor Brendon Lau owns Boral Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The New Hope Corporation Limited (ASX: NHC) share price has continued to zoom upwards since announcing its half year results in late March.

The coal miner delivered triple digit earnings growth whilst bumping up its interim dividend for shareholders.

At the time of writing, New Hope shares are swapping hands for $3.79, up 2.16%. This means they have gained around 29% from 22 March when the company released its financial scorecard to the ASX.

What are the details of the New Hope dividend?

In the half year report for the 2022 financial year, New Hope reported strong performance across key metrics.

In summary, total revenue surged by 153% to $1,025 million in H1 FY22. This was notably driven by disciplined cost controls and the significant increase in realised coal prices during the six months.

On the bottom line, New Hope achieved a net profit after tax (NPAT) of $330.4 million. A stark contrast from when the company recorded a loss of $55.4 million in the prior year.

Subsequently, the board opted to ramp up its fully franked interim dividend of 30 cents per share. While this includes a special dividend of 13 cents per share, this represents an increase of a mammoth 325% on H1 FY21’s dividend.

It appears that the special dividend is a direct result of New Hope benefiting from record coal prices in 2021.

When can New Hope shareholders expect payment?

New Hope will pay the interim dividend to eligible shareholders next month on 4 May.

To be eligible for the latest dividend, you’ll need to own New Hope shares before the ex-dividend date on 14 April. This means if you want to secure the dividend, you’ll need to purchase New Hope shares no later than today.

It’s worth noting though that historically when a company reaches its ex-dividend day, its shares tend to fall in proportion to the dividend paid out. This is because investors tend to sell off the company’s shares after securing the dividend.

In case you are wondering, the company is not offering a dividend reinvestment plan (DRP) to shareholders.

New Hope share price snapshot

Since the beginning of 2022, the New Hope share price has travelled 70% higher.

When looking at the last 12 months, its shares have further accelerated, up around 185%.

New Hope shares touched a multi-year high of $4.06 on Monday off the back of rising coal prices.

Based on valuation grounds, New Hope commands a market capitalisation of roughly $3.15 billion.

The post Keen to bag the next New Hope dividend? Read this appeared first on The Motley Fool Australia.

More reading

• Hoping to bag the monster New Hope dividend? Read this
• Why ASX coal shares are charging higher again today
• 3 ASX 200 shares smashing 52-week highs on Thursday
• In a sea of red, these ASX 200 coal shares are floating above water. Here’s why
• Could these ASX shares be set to benefit from increasing Russian sanctions?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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There are a lot of exchange traded funds (ETFs) funds out there for investors to choose from.

Three top ETFs that you may want to look deeper into are listed below. Here’s what you need to know about them:

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

Tech shares (and particularly Chinese technology shares) have had a tough year so far. This has weighed very heavily on the performance of the BetaShares Asia Technology Tigers ETF. And while this is disappointing, it may well have created a very attractive buying opportunity for long term focused investors. Especially given how the ETF is home to the leaders of the Asian technological revolution. These are the Apples, Googles, and Amazons of the Asia market. Among its holdings you’ll find Alibaba, Baidu, JD.com, and Tencent.

BetaShares Crypto Innovators ETF (ASX: CRYP)

Another exciting ETF to look at is the BetaShares Crypto Innovators ETF. It could be a top option for investors that are interested in the high risk world of cryptocurrencies but are not overly keen on owning coins. BetaShares highlights that the ETF allows investors to access the growth potential of the crypto economy through exposure to a portfolio of companies at the forefront of the crypto world. This includes crypto trading platforms, crypto mining and mining equipment firms, and other companies servicing crypto-markets. Among its holdings you’ll find Coinbase, Silvergate, and Riot Blockchain.

BetaShares Global Cybersecurity ETF (ASX: HACK)

A final exciting ETF that investors is the BetaShares Global Cybersecurity ETF. As its name implies, this ETF provides investors with exposure to the rapidly growing global cybersecurity sector. BetaShares notes that with cybercrime on the rise, demand for cybersecurity services is expected to grow strongly for the foreseeable future. This could mean the companies included in the fund, such as Accenture, Cisco, and Cloudflare, Crowdstrike, and Okta, experience strong demand for their services over the next decade.

The post 3 exciting ETFs for ASX investors to buy today appeared first on The Motley Fool Australia.

More reading

• Are these 2 leading ETFs good buys in April 2022?
• 2 popular ETFs for investors to buy in April
• Here are the 5 worst-performing ASX ETFs over the March quarter
• 3 very exciting ETFs for ASX investors this month
• Crypto and cybersecurity: 2 exciting ETFs for ASX investors

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BetaShares Asia Technology Tigers ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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BHP Group Ltd (ASX: BHP) shares might soon be in for another green makeover as Australia’s largest listed company looks for some legislative ‘laxing’.

Reportedly, there is a push from the mega-mining giant for the Queensland state government to amend a 54-year-old piece of legislation. This legislation is known as the Central Queensland Coal Associates Agreement Act 1968. In response, onlookers are suggesting BHP could be hoping to make an exit from coal easier for itself.

But, what could be behind the move?

Getting out while the going is good

Coal prices are at multi-year highs amid a widespread energy shortage and continuing supply chain issues. According to Trading Economics, coal hit a record high in March of US$430 per tonne. Since then, prices have retreated to US$303 per tonne. Obviously, this has been to the benefit of BHP and its shares.

This might prompt investors to wonder why BHP would be trying to escape out of coal when it appears to be the most lucrative.

In the past, BHP CEO Mike Henry has shown a desire to steer the $260 billion company away from commodities caught up in climate worries. One such example is BHP’s recent parting from the petroleum business — handing off its petroleum assets to Woodside Petroleum Ltd (ASX: WPL).

Similarly, BHP shares rallied in November last year after the company announced it would receive US$1.35 billion for the divestment of two metallurgical coal mines.

As a result, investors are focusing on a new bill that would reduce the difficulty of BHP palming off mines under its joint venture with Mitsubishi — referred to as the BHP Mitsubishi Alliance (BMA). Currently, the contents of the 1968 Act preside over eight BMA controlled mines.

In the latest half-year, BHP shares reaped the rewards of higher coal prices. Around 18% of the company’s revenue was generated by coal sales.

How have BHP shares performed?

BHP has been the better performer among its iron ore mining peers on the ASX since 2022 kicked off. This year to date, BHP shares have grown in value by 22.3%, while Fortescue Metals Group Limited (ASX: FMG) and Rio Tinto Limited (ASX: RIO) are up 7.2% and 19.6% respectively.

However, BHP currently presents the lowest dividend yield at 9.1% out of the three listed above. The other two mining giants are offering 13.5% and 12.4%.

The post Own BHP shares? Here’s why the miner could be gearing up to offload more carbon-heavy projects appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX mining companies by market cap
• What is the biggest mining company on the ASX right now?
• These are the 2 best ASX dividend shares to buy right now: fund manager
• ASX mining shares were the leaders last quarter. Here are the top performers
• BHP and Woodside one step closer in creating $40 billion energy giant

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Iluka Resources Ltd (ASX: ILU) share price is marching higher, up 1.6% in early trade.

Iluka shares closed yesterday at $12.43 and are currently trading for $12.62

Below we look at the latest on the ASX resource explorer’s demerger plans.

What’s the status of the demerger?

The Iluka Resources share price is marching higher after the company announced its intention to demerge Sierra Rutile Holdings Limited.

The demerger has been approved by the Board but remains subject to shareholder and other conditions before moving forward.

If these conditions are met, Sierra Rutile will be listed on the ASX as a separate company, focused on mineral sands in West Africa. That includes developing Iluka’s Sembehun project and focusing on the remaining deposits at Area 1.

Sierra Rutile will be led by Iluka’s outgoing chairman, Greg Martin, alongside other experienced management from Iluka.

Commenting on the demerger, Martin said:

After a comprehensive process, the Iluka Board considers that a demerger represents the optimal pathway for Sierra Rutile to reach its full potential. Sierra Rutile will be well equipped to implement strategies to maximise the value from the remaining producing deposits at Area 1 and to continue to progress the globally significant Sembehun project.

Noting that the demerger would simplify Iluka’s structure, Martin said it will enhance the miner’s “focus on its core activities and growth opportunities in Australia, particularly at this important juncture in its evolution and diversification into rare earths”.

Iluka’s managing director, Tom O’Leary added:

A demerger will not only position Sierra Rutile to reach its full potential, but also provides investors the opportunity to choose their desired exposure to each business based on their individual preferences for differing geographic exposures and risk-return profiles.

If the demerger proceeds, all Sierra Rutile shares will be distributed to Iluka Resources shareholders on a pro rata basis. The number of Sierra Rutile shares received will be proportional to their existing shareholding in Iluka on a record date yet to be determined.

Iluka Resources share price snapshot

The Iluka Resources share price has gained 25% over the past month, handily outpacing the 5% gain posted by the S&P/ASX 200 Index (ASX: XJO).

The post Iluka Resources share price marching higher on demerger news appeared first on The Motley Fool Australia.

More reading

• Should you buy Iluka or Lynas shares for rare earths exposure?
• Top brokers name 3 ASX shares to buy next week
• 5 things to watch on the ASX 200 on Tuesday
• Why Allkem, Iluka, Pendal, and Sayona Mining shares are charging higher
• ASX 200 (ASX:XJO): Perpetual makes Pendal offer, Iluka hits record high

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Beach Energy Ltd (ASX: BPT) share price had a rollercoaster performance last quarter, ultimately ending the period significantly higher than where it started.

At the final close of the March quarter, the Beach Energy share price was $1.56. That’s 23.81% higher than it was at the end of 2021.

For comparison, the S&P/ASX 200 Index (ASX: XJO) slipped 0.73% last quarter. Meanwhile, the S&P/ASX 200 Energy Index (ASX: XEJ) rose 25.09%.

So, what happened to the ASX oil and gas producer over the three months ended 31 March? Let’s take a look.

Why drove the Beach Energy share price 24% higher?

The Beach Energy share price had several tumbles last quarter.

First, it fell 7.77% on the release of the company’s activities report for the December quarter.

Over the three months ended 31 December, Beach Energy’s production and sales slipped 7% and 5% respectively. Though its sales revenue increased by 3%

Volatility also followed the release of the company’s earnings for the first half of financial year 2022.

Over the half, it recorded $213 million of net profit after tax (NPAT) – a 66% increase on that of the previous first half. It also posted a one-cent fully-franked dividend for the period.

The Beach Energy share price surged 9.43% on its half-year results before tumbling 10.46% the following session.  

The company also agreed to sell some of its Cooper Basin assets and its 15% holding in the Cooper Basin licence PRL 211 during the quarter.

So, since most of the Beach Energy share price’s gains last quarter weren’t born from company news, what was it that drove it higher?

Surging energy commodity prices were likely behind the stock’s gains.

Oil prices reached their highest point since 2008 in early March, trading at around US$130 a barrel at one point. And while they quickly retreated from the multi-year high, they still ended the quarter trading above US$100 a barrel.

Gas prices also took off last quarter.

The rising price of energy commodities mainly stemmed from sanctions on Russia – a major energy-producing nation – following its invasion of Ukraine.

The measures disrupted the balance of supply and demand, thus, boosting the value of energy (and many other) commodities.

The post Despite its struggles, the Beach Energy share price had a stellar March quarter. Here’s why appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• 5 things to watch on the ASX 200 on Tuesday
• 5 things to watch on the ASX 200 on Friday
• Black gold! Here’s how well ASX energy shares performed over the March quarter
• Why has the Beach Energy share price tumbled 11% in a month?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

The price of Solana (CRYPTO: SOL) had risen as much as 7% over 24 hours at 9:30 a.m. EST before it gave away some of those gains. The popular retail investing app Robinhood announced earlier today that it had added the token to its trading platform.

So what

Robinhood has been slow to add cryptocurrencies to its trading platform, despite strong demand from its customers. CEO Vlad Tenev said on the company’s recent earnings call that Robinhood has wanted to be careful not to add tokens that financial regulators might consider unregistered securities. 

This morning, Robinhood added four new tokens, including Solana. The move should increase exposure for the cryptocurrency because Robinhood had more than 17 million monthly active users at the end of 2021. 

Tenev also said that Robinhood has been investing heavily in its crypto capabilities, including by adding features such as crypto gifting and crypto wallets. Robinhood also plans to open crypto investing to international customers later this year.

Now what

This should be a positive for Solana, which now has close to a $35 billion market cap, because it will increase exposure to the token. Robinhood customers have heavily been demanding more tokens on the platform, and using Robinhood is arguably one of the easiest ways to buy and sell equities and cryptocurrencies. This could create more trading activity on Solana.

I also think Solana is one cryptocurrency that merits consideration, considering its smart-contract capabilities and faster transaction times, which make it a viable option for supporting non-fungible tokens and decentralized applications. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Solana is rising today appeared first on The Motley Fool Australia.

More reading

• Why Polkadot, Cardano, and Solana all dropped today
• Solana makes another leap
• How these top cryptos stacked up against Bitcoin and Ethereum in March
• Why Solana, Polkadot, and Cardano are down big today
• Why Solana jumped again today

Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Solana. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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