Better Blockchain Stock: Block vs. Riot Blockchain

Blockchain-powered technologies have attracted a lot of attention over the past few years. The distributed ledger technology enables cryptocurrencies like Bitcoin (CRYPTO: BTC) to be mined, decentralized apps (dApps) to be developed, and digital media to be converted into non-fungible tokens (NFTs). It also enables companies to secure their networks, accept new payment options, track products, and optimize their supply chains.

The global blockchain market could grow at a compound annual growth rate (CAGR) of 68.4% between 2021 to 2026, according to Research and Markets, as more industries adopt blockchain-powered technologies. Two companies that are capitalizing on that market's expansion are Block (NYSE: SQ) and Riot Blockchain (NASDAQ: RIOT).

However, both stocks were roughly cut in half over the past two months as rising interest rates squeezed investors out of higher-growth tech stocks. Is either of these beaten-down blockchain plays still worth buying right now?

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Source Fool.com