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Hydrogen has taken the ASX by storm in 2021, boosting shares involved with the energy source into the spotlight, and it was no different in November.

Last month brought plenty of news from hydrogen producers, researchers, and developers. But some hydrogen-focused ASX shares managed to outperform the crowd.

Here are the 5 stocks that outperformed their peers in November.

5 best-performing ASX hydrogen shares of November

A quick note; this list only contains companies with market capitalisations of more than $50 million.

Environmental Clean Technologies Ltd (ASX: ECT) – gained 211%

The Environmental Clean Technologies share price soared from just 1.7 cents at the end of October to 5.3 cents at the final close of November.

The company operates two hydrogen-focused legs: HydroMOR, which works to create lignite-based, hydrogen-driven iron-making technology, and COHgen, which is looking to produce hydrogen from lignite.

Over the month just been, the company purchased the site on which it plans to build its headline net-zero emission hydrogen refinery project.

It also established a $1.96 million research and development loan facility with InvestVictoria for financial year 2022.

Pure Hydrogen Corporation CDI (ASX: PH2) – gained 33%

Pure Hydrogen had a particularly busy month on the ASX.

First, it completed its purchase of a 24% stake in hydrogen-powered vehicle manufacturer H2X Global.

Together, the companies have established Pure X Mobility, which Pure Hydrogen later announced will be bringing 7 hydrogen fuel cell trucks to Australia to transport building waste in parts of South East Queensland.

It also entered into an agreement to build waste hydrogen plants in Brisbane, Sydney and Melbourne. It later announced the Brisbane plant will be operational in 2022.

The Pure Hydrogen share price ended October at 37 cents. As of 30 November, it was trading at 49.5 cents.

Fortescue Metals Group Limited (ASX: FMG) – gained 22%

While Fortescue Metals doesn’t seem like an obvious inclusion on this list, it squeezes in through its subsidiary Fortescue Future Industries (FFI).

In November, FFI announced that planning approval for its Global Green Energy Manufacturing Centre had been given the green light.

FFI also announced it is converting a shipping vessel to run on green ammonia and is working to enable aviation to run on green hydrogen.

Additionally, it agreed to conduct studies with the Kingdom of Jordan and develop multiple green energy and hydrogen projects in Papua New Guinea.

Finally, chair of Fortescue Metals and FFI Andrew Forrest met with global leaders, while FFI CEO Julie Shuttleworth addressed them at COP26 last month.

The Fortescue Metals share price grew from $13.93 to $17.01 through November.

Sparc Technologies Ltd (ASX: SPN) – gained 16%

Sparc Technologies had a great month on the ASX despite not releasing any news to the market.

However, late in October, the company announced it is working with the University of Adelaide to create ‘ultra-green’ hydrogen.

Together the companies are aiming to produce hydrogen using just solar radiation, scrapping the use of electrolysers entirely.

After ending October trading at $1.32, the Sparc Technologies share price finished November at $1.54.

Lion Energy Ltd (ASX: LIO) and Province Resources Ltd (ASX: PRL) – flat

Finally, these two companies just make the list of top-performing ASX hydrogen shares. Coming in joint fifth place is Lion Energy and Province Resources.

Both companies’ share prices recorded no meaningful gain, or fall, for November.

However, if one was to be technical, Province Resources came out on top with a 0.5 cent gain. That’s compared to Lion Energy’s 0.1 cent fall.

Lion Energy ended the month trading at 7.7 cents, while Province Resource’s shares were swapping hands for 16 cents apiece.

The post These were the 5 best-performing ASX hydrogen shares of November appeared first on The Motley Fool Australia.

More reading

• Here’s why ASX 200 mining shares are flying higher
• Why the Pure Hydrogen (ASX:PH2) share price is powering 22% ahead today?
• Rio Tinto (ASX:RIO) and Fortescue (ASX:FMG) share prices hit by broker downgrade
• Why did the Fortescue (ASX:FMG) share price outperform its sector today?
• Pure Hydrogen (ASX:PH2) share price plunges 9% despite ‘excellent results’

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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The S&P/ASX 200 Index (ASX: XJO) is up a healthy 0.7% in morning trade.

By the ASX 200 miners are trouncing those gains.

The Rio Tinto Ltd (ASX: RIO) share price is up 2.3%; shares in Fortescue Metals Group Limited (ASX: FMG) are up 2.61%; and the BHP Group Ltd (ASX: BHP) share price is up 1.75%.

So, what’s lifting the big miners?

Why are ASX 200 mining shares outperforming today?

The ASX 200 miners listed above all appear to be getting a boost from resurgent iron ore prices.

Iron ore leapt 8.3% higher overnight to trade for US$111.34 (AU$156.22) per tonne.

This came as new customs data revealed iron ore imports from China – the world’s biggest consumer of the metal – increased 14.6% in November from the previous month.

According to Mining.com, China imported 104.96 million tonnes of iron ore in November, 6.9% more than it did in November 2020 and the highest level in 16 months.

Commenting on the leap in imports, Michelle Lam, greater China economist at Société Generale said, “The surprise in import growth was driven by a rebound in commodity volume, probably reflecting improving infrastructure capex demand as local governments stepped up stimulus toward the turn of the year.”

In a note of caution as to import levels in the months ahead, Tang Binghua, an analyst with Founder CIFCO Futures said, “It is unlikely that high levels of imports will continue, as consumption is weak after China stepped up output controls on mills during the heating season and ahead of the Winter Olympics.”

Should import volumes fall and the iron ore price retreat, it will throw up some headwinds for the ASX 200 miners.

How have the big miners been performing?

It’s been a volatile year for the leading ASX 200 miners.

After soaring on rising iron ore prices, the BHP share price is now down 4% over the past 12 months as the price of the metal retreated in recent months.

The Rio share price has fared even worse, down 16% since this time last year.

And the Fortescue comes in at the bottom of the list, down 17% over the full year.

The post Here’s why ASX 200 mining shares are flying higher appeared first on The Motley Fool Australia.

More reading

• Why the Rio Tinto (ASX:RIO) share price could be a bargain buy
• Morgans names 2 high yield ASX dividend shares to buy now
• RBA maintains interest rate but removes 2024 reference. What could this mean for ASX shares?
• Rio Tinto (ASX:RIO) and Fortescue (ASX:FMG) share prices hit by broker downgrade
• Could the BHP (ASX:BHP) dividend be set for a boost?

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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ASX-listed buy now, pay later (BNPL) shares are squarely in focus today as the government announces new payment system reforms.

The fear of regulation has long plagued the BNPL sector since Afterpay Ltd (ASX: APT) entered the scene in a meaningful way in 2017. Early on, traditional banks argued it wasn’t a level playing field as the interest-free instalment offering curbed the definition of credit.

Now, the booming BNPL industry looks set to be caught in the crossfire of the government’s latest reforms.

Payment systems regulation gets 21st century refresh

A growing trend in Australia — and much of the world — is payments being made through and being facilitated by big tech companies. This is a world away from what payments used to look like 25 years ago. Yet, the current governing regulation is the Payment Systems Act 1998.

A number of policy reviews have recommended modifications to the regulation to encapsulate current trends. This includes the involvement of ASX-listed BNPL shares, cryptocurrency, and international tech giants in Australia’s financial system.

To do this, Treasurer Josh Frydenberg will broaden what defines a payment service in Australia through new legislation next year. As a result, big tech and BNPL companies are expected to be treated equally under the umbrella of payment systems.

Furthermore, the change comes at a time when digital wallets are taking a large share of transactions in Australia. Presently, there is more than 5 million active buy now, pay later accounts in Australia. Remarkably, around 20% of all online retail transactions by value are now conducted via BNPL companies.

The Treasurer’s move to encompass ASX-listed BNPL shares and other fintechs under the new definition is for two purposes. Firstly, it will create a more level playing field for the major banks that have plowed capital into Australia’s payment infrastructure, only for international tech companies to make use of it at no cost.

Secondly, it will give more power to regulators to address concerns of a destabilised financial system at the hands of digital payment companies.

Challenging conditions for ASX-listed BNPL shares

The past 10 months or so have been fraught with challenges for the likes of Afterpay and Zip Co Ltd (ASX: Z1P). More recently, ASX-listed BNPL shares came under pressure following Financial Counselling Australia (FCA) raising the alarm on the sector.

On Monday, the FCA called upon the Australian Government to review the framework under which BNPL companies operate after it reported a surge in people in financial distress using BNPL services. The organisation found 84% of its surveyed counsellors reported that more than half of their clients had BNPL debt.

ASX-listed BNPL shares such as Afterpay and Zip have underperformed the broader S&P/ASX 200 Index (ASX: XJO) in 2021. The payment companies have fallen 16% and 10% respectively since the beginning of the year. Meanwhile, the benchmark index has gained 10%.

Despite concerns about what it could mean for the industry, BNPL shares are in the green on Wednesday morning. At the time of writing, Afterpay and Zip are up 4% and 9.9% respectively.

The post Here’s why ASX BNPL shares are in the spotlight today appeared first on The Motley Fool Australia.

More reading

• Why did the Afterpay (ASX:APT) share price go backwards in November?
• Here are the 3 heaviest traded ASX 200 shares this Tuesday so far
• Why Bank of Queensland, Imugene, Webjet, and Zip shares are pushing higher
• ASX 200 (ASX:XJO) midday update: Zip update impresses, BOQ rises
• Zip (ASX:Z1P) share price jumps 9% after hitting $10 billion milestone in November

Motley Fool contributor Mitchell Lawler owns shares of AFTERPAY T FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. 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 metaverse trend is one that appears to have some real legs. Today, top metaverse cryptocurrencies Decentraland (CRYPTO: MANA), Alien Worlds (CRYPTO: TLM), and The Sandbox (CRYPTO: SAND) each appear to have regained lost momentum. 

As of 2:15 p.m. ET, Decentraland, Alien Worlds, and The Sandbox appreciated 8.7%, 3.1%, and 3.8%, respectively, over the past 24 hours.

So what

The metaverse is a generic term to describe virtual worlds. These cryptocurrencies each provide exposure to metaverse games, built on top of (or in combination with) blockchain technologies. Accordingly, investors bullish on the future of the metaverse, as well as the direction crypto is headed, will like the double-dip of aggressive growth exposure these digital tokens provide.

A number of Wall Street analysts have jumped on the metaverse as a place to invest. While most of the Wall Street coverage of the metaverse is restricted to stocks such as Meta Platforms and Roblox, the overall thesis boils over to the crypto sector as well.

Analysts believe that the metaverse could be a major disruptive force, perhaps far in excess of what the market is pricing in today. Visualizing the future of internet-based communication is difficult. However, the growth of virtual economies is staggering, and something analysts are keeping a close eye on.

Now what

The idea of having a second place to engage, communicate, and transact with other individuals is something that’s enticing to many. Given the tailwinds provided by the pandemic, there’s a reasonable amount of optimism baked into metaverse-related stocks or cryptocurrencies.

Much of this sentiment relates to the future growth of digital assets being traded on the metaverse. Whether it’s NFTs or digital real estate, there’s money to be made in grabbing a piece of what could be “reality 2.0.”

It’s perhaps easy for some investors to brush off blockchain-based metaverse games and crypto tokens as likely to lose out to companies like Roblox and Meta. Maybe that’s a fair assessment. However, for now, investors appear content to hedge their bets and grab a slice of this entire sector. Personally, I think the metaverse in its entirety is likely to remain a hot commodity for some time. Accordingly, there’s no doubt investors will be keeping a close eye on these three tokens for the foreseeable future. 

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

The post Wall Street’s bullish take on the metaverse fuels big moves in these 3 cryptocurrencies today appeared first on The Motley Fool Australia.

More reading

• What are Metaverse stocks and why is everyone talking about them?
• Why multiple experts are HOT on this ASX tech share right now
• ASX 200 tech shares in focus as Nasdaq plunges 1.7%
• Why is the Vanguard MSCI Index International Shares ETF (ASX:VGS) off to such a great start in November?

Chris MacDonald has no position in any of the stocks mentioned. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Meta Platforms, Inc. and Roblox Corporation. The Motley Fool Australia has recommended Meta Platforms, Inc. 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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Shares in coal freight operator Aurizon Holdings Ltd (ASX: AZJ) are down in early trading on Wednesday, slipping 0.45% to $3.335.

It’s been a difficult time these past 3 months for Aurizon shareholders who have seen their holdings collapse amid a bottom-heavy coal market.

Consequently, shares are trading around 52-week lows and investors have started leaving the Aurizon party.

What’s going on with the Aurizon share price?

Aurizon’s share price collapsed in late October amid a large pullback in the price of coal that began at the same time.

After an extended rally that started in late 2020, the price of coal has reversed sharply and now trades 44% off its record high of US$269.50/tonne in October.

As Beijing continues to regulate its domestic power market in an attempt to curb emissions and the impacts of soaring coal prices, those with exposure to coal have felt the brunt of these moves.

Aurizon has been front and centre of the massacre in ASX coal shares and has seen its share price slide 15% amid the plummet in the price of the black rock.

Adding to the downward pressure, renewed investor concerns surrounding the new Omicron COVID-19 variant have also been a negative catalyst for coal players, according to Trading Economics.

Aside from this, Aurizon’s recent acquisition efforts in acquiring One Rail Australia hasn’t been well received across the board.

Both UBS and RBC Capital Markets tip Aurizon to underperform, with the latter valuing the company at $3.30 per share.

Meanwhile, the team at Macquarie reckons the One Rail acquisition could be a net positive to the company, particularly due to the diversification benefits into new markets.

In light of this, sentiment appears mixed on Aurizon, particularly as its share price is failing to catch bids these past few weeks.

Aurizon share price snapshot

It’s been a difficult one these past 12 months for the Aurizon share price, having lost almost 21% in that time.

This year to date, things aren’t any better. The company’s shares have given away more than 14% since January 1, and are down almost 2% in the last month.

The post Why has the Aurizon (ASX:AZJ) share price had such a lacklustre start to December? appeared first on The Motley Fool Australia.

More reading

• Why is the Aurizon (ASX:AZJ) share price hitting 9-year lows today?
• Why has the Aurizon (ASX:AZJ) share price struggled this month?
• Is the Aurizon (ASX:AZJ) share price undervalued in November?

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 Aurizon Holdings 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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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

Cryptocurrency mining stocks were up big on Tuesday, thanks to a price rebound among cryptocurrencies including Bitcoin (CRYPTO: BTC) — and thanks to a hot stock market. As of 12:30 p.m. ET, the S&P 500 was up 2%, which is a big move for a single day. And Bitcoin is up 4% over the past 24 hours and up around 14% from its weekly low.

Cryptocurrency mining stocks up today include Canaan (NASDAQ: CAN), Marathon Digital Holdings (NASDAQ: MARA), and HIVE Blockchain Technologies (NASDAQ: HIVE), up 11%, 9%, and 9%, respectively.

So what

There were several factors negatively impacting the price of Bitcoin over the past week. For example, cryptocurrency exchange BitMart was hacked on Saturday and the bad guys got away with between $150 million and $196 million in digital assets, according to CNBC. Whenever an exchange is hacked like this, it can spook investors in cryptocurrencies.

Besides Bitcoin, investors were recently reminded that there’s a big need for discernment when it comes to cryptocurrencies. Trading platform Bitget is based in Singapore. But this week, the Monetary Authority of Singapore reportedly suspended Bitget’s license because it promoted an obscure cryptocurrency based on the popular music group BTS from South Korea.

These kinds of things can rattle confidence in the cryptocurrency market. But the stock market has been far more rattled of late, especially with stocks that are labelled as growth stocks. The ARK Innovation ETF, a popular exchange-traded fund (ETF) with a plethora of high-flying growth stocks, is down 35% from its 52-week high and down sharply over the past month as investors fret over surging coronavirus cases and institutional investors make year-end moves to lock in gains.

Whatever the exact reasons may be, both the stock market and the cryptocurrency market rebounded sharply on Tuesday, which was doubly helpful for stocks like Canaan, Marathon Digital, and HIVE Blockchain Technologies. To be clear, none of these companies had news today. Marathon Digital did have a filing with the Securities and Exchange Commission (SEC) yesterday. However, this was merely an official filing of previous press releases. So there wasn’t anything materially moving these stocks today other than general market conditions.

Year-to-date returns for these cryptocurrency stocks, Bitcoin, and the S&P 500. CAN data by YCharts

Now what

Canaan manufactures hardware for mining Bitcoin and this is a good business to be in right now. Historically high profit margins for Bitcoin miners have sparked a spending frenzy as companies try to increase their mining capabilities to take advantage of these favourable economics. Strong demand was reflected in Canaan’s third-quarter results, released on Nov. 16. Hashing power sold was up an impressive 128% year over year. However, Q3 revenue was up over 708% from the previous year, reflecting a higher price per mining unit. 

As long as these favourable economics are in place, it’s likely that Canaan’s products will be in high demand. However, the other side of this equation is that mining companies like Marathon Digital and HIVE Blockchain Technologies are getting more competitive, attempting to increase their market share. 

As of December 1, Marathon Digital had a hash rate of 3.2 exa-hashes per second (EH/s), which was around 2% of the total hash rate of the Bitcoin network. But the company is rapidly adding power and expects to have 13.3 EH/s roughly six months from now.

However, companies like HIVE Blockchain Technologies aren’t going to just sit there while Marathon Digital expands. For its part, HIVE Blockchain mines both Bitcoin and Ethereum (CRYPTO: ETH) and has 1.31 EH/s for mining the former. It expects to roughly double this by the summer of 2022. Of course, that won’t keep up with Marathon Digital quadrupling its capacity. 

As long as the price of Bitcoin continues to rise, the economics of mining cryptocurrencies should keep making sense, motivating companies to buy more mining hardware from providers like Canaan. That’s good for now. However, investors will need to be sure to develop a balanced long-term perspective on this space, recognizing that prolonged pullbacks have happened in the past and can create tough operating environments for all of these companies.

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

The post Why Cryptocurrency Mining Stocks Were Up Big Today appeared first on The Motley Fool Australia.

More reading

• Can Bitcoin and other cryptos be used as an inflation hedge?
• Betashares CRYPTO ETF (ASX:CRYP) drops 16% in the past week. What’s next?
• Why Ethereum, Dogecoin, and Solana Fell This Morning
• Crypto investors missing millions after 2 Aussie exchanges collapse
• Bitcoin (CRYPTO:BTC) price crash dashes crypto’s safe haven status

Jon Quast owns shares of Bitcoin and Ethereum. The Motley Fool owns shares of and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.

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

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Bitcoin (CRYPTO: BTC) as an inflation hedge?

Or perhaps Ethereum (CRYPTO: ETH), or some of the other top cryptos?

With inflation ticking up fast in most developed nations, including Australia, it’s a question more investors are pondering as the outlook for the value of their dollars and euros begins to weaken.

Can Bitcoin serve as an inflation hedge?

The jury is still out on the long-term use of cryptos like Bitcoin to protect investors in times of fast rising prices.

Prices, of course, tend to be rated in fiat currencies. And the supplies of fiat currencies are theoretically unlimited.

Governments can, and do, print large quantities of their own currencies, generally through their central banks. If they run the presses too hot, inflation usually follows. Which is what much of the developed world is beginning to experience these past months.

Select cryptos like Bitcoin, on the other hand, have a fixed supply. There are only so many Bitcoin that can be mined. Then there’ll be no more. Granted, they can be broken down into much smaller units called satoshis (100 millionth of a Bitcoin). But unlike the US or Aussie dollar, you can’t create endlessly more with the press of a button.

Indeed, looking at the price history of Bitcoin, it’s far outrun inflation to date. Over the past 12 months, Bitcoin has gained 173% in Aussie dollar terms. And over the past 5 years it’s up 6,439%.

Take that inflation.

But that’s all hindsight now.

Whether Bitcoin can serve as a decent inflation hedge moving forward depends on who you ask.

What the experts are saying

On the pro-side for Bitcoin as inflation protection is Strahinja Savic, head of data and analytics at crypto derivatives provider FRNT Financial.

According to Savic (quoted by Bloomberg), “Not only is the dilution of Bitcoin much less aggressive than USD over the last six years, it’s also much more consistent, not susceptible to political whims and, of course, predictable. Bitcoin’s programmed predictability contrasts it from the uncertain policy decisions that impact the dollar.”

But head of Securitize Capital Wilfred Daye takes a more cautious approach. “We don’t have long enough history to assert Bitcoin is indeed an inflation hedge,” he said.

Josh Gilbert, crypto analyst at multi-asset investment platform eToro, agrees:

We’re currently in an environment where it’s more important to invest when we consider the inflation print experienced in the US. Bitcoin has been labelled an ‘inflation hedge’ by some. But the crypto asset is still in its infancy, and hasn’t been tested during a recession. Therefore, it can’t be considered as a hedge against inflation for now.

The post Can Bitcoin and other cryptos be used as an inflation hedge? appeared first on The Motley Fool Australia.

More reading

• Betashares CRYPTO ETF (ASX:CRYP) drops 16% in the past week. What’s next?
• Missed out on Ethereum? Here’s a possible alternative
• Why Ethereum, Dogecoin, and Solana Fell This Morning
• Crypto investors missing millions after 2 Aussie exchanges collapse
• Bitcoin (CRYPTO:BTC) price crash dashes crypto’s safe haven status

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin and Ethereum. 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 Playside Studios Ltd (ASX: PLY) share price is jumping after entering into a fixed price work-for-hire development agreement with Shiba Inu Games.

Playside Studies is Australia’s largest publicly listed video games developer. PlaySide describes Shiba Inu Games as one of the many projects established by the cryptocurrency community to create great games.

Playside Studios agreement with Shiba Inu Games

Under this agreement, Playside will provide production, design, engineering, art, user interface and experience development services to Shiba Inu Games on a new game title during the 8-month term of the agreement.

The development of the game will draw from the art of the Shiba token’s ‘Shiboshi’ NFT (non fungible tokens) and will feature card collection, strategy and battle mechanics.

The multiplayer collectible card game is planned to be launched on multiple platforms with a proposed launch date in the first quarter of FY23.

Playside disclosed this is a fixed-price development agreement and does not include a revenue share. The ASX share will be paid in US dollars and will not trade or participate in cryptocurrency as part of this agreement.

What does Playside like about the deal?

The market seems to like this agreement, with the Playside share price up around 5% at the time of writing.

But in explaining the rationale for this deal, the company said it wants to “collaborate with strategic partners to develop games using the latest trends that are shaping the future of the gaming industry”.

Playside likes the deal because there are new opportunities in games, like this one, that take advantage of booming global trends such as the metaverse, cryptocurrencies, non-fungible tokens and blockchain gaming.

The continuing and rapid evolution of new businesses within the industry increases the demand for games and provides “significant opportunities” for the company. It will allow the business to showcase its capabilities in a new area of gaming.

Playside said this will show off its credentials as a global premier game developer.

CEO commentary

Gerry Sakkas, the CEO of Playside, said:

Playside continues to demonstrate its capability to partner with leaders across a range of fields within interactive entertainment including leading influencers and global gaming brands. To add a new games client that has emerged from the popular NFT, token and decentralised cryptocurrency industry is very exciting for us.

Emerging technologies continue to gather pace, and this is an ideal opportunity for Playside to collaborate in this field, expand our skill base and showcase our development abilities.

The scale of the agreement with Shiba Inu Games is also significant and highlights the depth of our capabilities as we continue to grow our business.

Playside share price snapshot

Whilst the shares are up 5% today at the time of writing, it has gone up by 115% since 6 October 2021, meaning it has outperformed most other ASX shares over the last couple of months.

The post Playside (ASX:PLY) share price surges on Shiba Inu Games deal appeared first on The Motley Fool Australia.

More reading

• What are Metaverse stocks and why is everyone talking about them?
• Why the PlaySide Studios (ASX:PLY) share price is winning today
• Here’s why the PlaySide Studios (ASX:PLY) share price clocked it this morning
• PlaySide (ASX:PLY) share price on watch after landmark agreement with video game giant

Motley Fool contributor Tristan Harrison 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

As of 2:30 p.m. ET, Crypto.com Coin (CRYPTO: CRO) was up 11.7% over the past 24 hours. A leader in crypto-based mobile payments, Crypto.com token has surged in interest among investors looking for ways to not only trade, but also generate yield from their crypto investments.

Today’s rise is substantially higher than the move of the overall crypto market, up approximately 4% over the past 24 hours.

In fact, this token is the fastest-rising top-15 cryptocurrency by market capitalization at the time of this writing. Investors seeking momentum have that in Crypto.com token today. Most cryptocurrencies, such as rival Shiba Inu, are up, but not to this degree.

So what

Holding today’s growth rate for Crypto.com Coin and Shiba Inu steady, CRO could theoretically pass Shiba Inu in value in three days. This is a fast-growing token that has generated a lot of attention of late. As far as momentum goes, Crypto.com Coin appears to have the upper hand over Shiba Inu and most large-cap tokens right now.

Since the beginning of September, Crypto.com Coin is a three-bagger. Shiba Inu’s performance has been less impressive, with this token losing nearly half its value over this time frame. 

Now, there are a number of catalysts investors point to when it comes to Crypto.com Coin’s outperformance. Crypto.com has been one of the leaders in marketing in the crypto space, securing a massive $700 million naming rights deal for what’s now known as the Crypto.com Arena (formerly the Staples Center). Other high-profile marketing deals in F1 and UFC have provided impressive name recognition for this token. Additionally, Matt Damon is doing television advertisements on behalf of Crypto.com, suggesting this is a cryptocurrency that’s not afraid to pull out all the stops to make as much noise as possible.

Investors like the mobile payments functionality (crypto-based debit cards and financial services), as well as the yield farming capabilities Crypto.com provides, courtesy of its CRO token. Some may come for the marketing and stay for the yield. In either case, Crypto.com Coin is a token that’s certainly outperforming right now.

Now what

It’s clear Crypto.com Coin is making a tremendous amount of buzz right now. In the crypto space, filled with flashy tokens and moonshot meme bets, this has turned out to be a good thing. Investors know the Crypto.com name, and are investing in this token. 

There’s some functionality to Crypto.com Coin, and a reason for investors to hold this token. Those in the yield farming space will note that Crypto.com is a renowned platform that’s gaining a lot of traction right now. Sure, there’s competition, and the landscape is always shifting. However, this token is also one with a lot of marketing behind the name.

As with any cryptocurrency investment, buying a given token based on the marketing or pizzazz underpinning a name isn’t a prudent idea. However, this token is garnering attention among those sophisticated investors as well. Accordingly, this may be a token worth looking at right now, relative to meme coins such as Shiba Inu. 

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

The post This crypto token could be 3 days away from passing Shiba Inu appeared first on The Motley Fool Australia.

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• Why the Price of Shiba Inu is down today
• 3 cryptocurrencies that crushed Shiba Inu in November
• You could’ve made $1 million investing less than $1,500 in these 3 cryptocurrencies
• Shiba Inu soars and crashes, but it’s still holding up this week
• Here’s how these 4 top traded cryptos performed in November

Chris MacDonald 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.

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

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The Vulcan Energy Resources Ltd (ASX: VUL) share price has been an exceptionally strong performer in 2021.

Since the start of the year, the lithium explorer’s shares have risen a remarkable 250% to $9.72.

This is despite the company being targeted by a short seller in recent months.

Can the Vulcan Energy share price keep rising?

One leading broker isn’t worried by the short seller attack and continues to tip the Vulcan Energy share price to rise further.

According to a recent note out of Canaccord Genuity, its analysts have retained their buy (speculative) rating and $21.00 price target on the company’s shares.

Based on the current Vulcan Energy share price, this implies potential upside of 116% for investors over the next 12 months.

What did the broker say about this lithium share?

Canaccord Genuity notes that the company has just signed a binding offtake agreement with automotive giant Stellantis.

Stellantis is the name behind popular car brands including Peugeot, Citroen, Fiat, Chrysler, Jeep, Abarth, Alfa Romeo and Maserati.

The broker commented: “Vulcan has announced that it has signed a binding offtake agreement with Stellantis for 81-99kt of lithium hydroxide over five years from 2026. We believe this is the largest hydroxide offtake agreement by tonnage signed globally to date and represents a significant step in Vulcan securing its customer pipeline with tier 1 customers.”

What else?

Outside this latest development, Canaccord Genuity is positive on the Vulcan Energy share price due to the company’s potential to supply the European market with lithium.

The broker explained: “We reiterate our support for the [Zero Carbon Lithium] project given its potential to: supply lithium to the European market; fundamentally shift the lithium industry carbon cost curve; and produce high quality lithium products at low unit costs.”

The post Top broker tips Vulcan Energy (ASX:VUL) share price to more than double appeared first on The Motley Fool Australia.

More reading

• Why Domino’s, Healius, Kogan, and Vulcan shares are pushing higher
• Vulcan (ASX:VUL) share price falls 6% despite auto giant agreement
• Vulcan Energy (ASX:VUL) share price leaps 10% on new lithium deal
• Vulcan (ASX:VUL) share price on watch following Renault agreement
• Vulcan (ASX:VUL) share price falls despite acquisition update

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 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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