5 Most Promising Blockchain Stocks According to Analysts

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1. Canaan Inc. (NASDAQ:CAN)

Number of Hedge Fund Holders: 9

Average Upside Potential as of February 15: 166.27%

Canaan Inc. (NASDAQ:CAN) is one of the leading players in the blockchain industry. The company designs and produces application-specific integrated circuit (ASIC) chips and systems for blockchain-related applications. Canaan Inc. (NASDAQ:CAN) is one of the world’s largest manufacturers of Bitcoin mining rigs and has a strong presence in the cryptocurrency mining and blockchain industry.

Canaan Inc. (NASDAQ:CAN) has received 4 Buy ratings from Wall Street analysts and has a consensus Buy rating. The stock has an average price target of $7.70, which represents an upside of 166.27% from current levels. The stock is ranked among the most promising blockchain stocks to buy according to analysts.

At the end of Q3 2022, 9 hedge funds were bullish on Canaan Inc. (NASDAQ:CAN) and held stakes worth $8.3 million in the company. As of December 31, Sculptor Capital is the largest shareholder in Canaan Inc. (NASDAQ:CAN) and has a position worth $618,000 in the company.

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