Top 25 Most Traded Stocks & ETFs by Investors at Firstrade in August
Get the full list of top favored stocks and ETFs among Firstrade investors in the last month.
Here’s the full list of top favored stocks and ETFs among Firstrade investors in the last month:
Tesla Inc. (TSLA)
ProShares UltraPro Short QQQ ETF (SQQQ)
ProShares UltraPro QQQ (TQQQ)
NVIDIA Corporation (NVDA)
Apple Inc. (AAPL)
Advanced Micro Devices, Inc. (AMD)
Direxion Daily Semiconductor Bull 3X Shares (SOXL)
Invesco QQQ Trust Series 1 (QQQ)
Taiwan Semiconductor Mfg. Co. Ltd. (TSM)
Direxion Daily Semiconductor Bear 3X Shares (SOXS)
Amazon.com, Inc. (AMZN)
Vanguard 500 Index Fund ETF (VOO)
ProShares Ultra VIX Short Term Futures ETF (UVXY)
Palantir Technologies Inc. (PLTR)
AMC Entertainment Holdings Inc. (AMC)
ProShares UltraShort Bloomberg Crude Oil (SCO)
Vanguard Total Stock Market Index Fund ETF (VTI)
Microsoft Corporation (MSFT)
Alphabet Inc Class C (GOOG)
Alphabet Inc Class A (GOOGL)
Bed Bath & Beyond Inc (BBBY)
Occidental Petroleum Corporation (OXY)
Meta Platforms Inc. (META)
Bank of America Corp (BAC)
Intel Corp (INTC)
What is Cardano?
What is Cardano?
Cardano (ADA) is an open-source Proof of Stake cryptocurrency designed to function as a platform for fast, efficient, and easy-to-deploy smart contracts. The Cardano ecosystem can be used to develop and deploy a broad spectrum of decentralized applications (dAps), blockchain tokens, blockchain-based games, and decentralized finance (DeFi) protocols.
As one of the largest and most popular cryptocurrencies by market cap, Cardano is a highly successful blockchain project that builds on the core principles of the Ethereum project. Unlike Ethereum, however, Cardano takes a significantly different approach to development.
The Cardano project follows the principles of peer-reviewed, evidence-based research in order to develop and integrate new solutions to the challenges faced by blockchain technology.
Cardano is a general-purpose blockchain that is currently under active development by a multidisciplinary team of scientists, cryptography experts, mathematicians, engineers, and business experts. The core principles of the Cardano project focus on interoperability, open-source design, scalability, and security.
A Brief History of Cardano
Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson, who launched the Cardano project during a hiatus from the Ethereum project due to friction with Ethereum co-founder Vitalik Buterin.
Hoskinson’s core vision for the Ethereum project included structural elements that would allow Ethereum to function as a for-profit enterprise and open the doors to venture capital investment, while Buterin preferred to keep the Ethereum project operating on a nonprofit basis.
Partnering with Jeremy Wood, another Ethereum developer, Hoskinson launched IOHK — the blockchain engineering organization behind the Cardano project. The Cardano project went live in 2017, and is named after Italian polymath Gerolamo Cardano. The ADA token is named after mathematician Ada Lovelace.
How Does Cardano Work & How is it Different From Ethereum?
Cardano smart contracts are now live, which means the Cardano network is able to offer many of the same functions and use cases as the Ethereum network. There are, however, a number of important differences between Ethereum and Cardano.
While Ethereum is currently in the process of shifting to a completely Proof of Stake consensus algorithm, Cardano already operates as a Proof of Stake blockchain. Cardano uses the Ouroboros consensus protocol, which integrates Proof of Stake elements that allow anybody to create a node and validate transactions.
In order to participate in node operation and transaction validation, Cardano network participants must stake, or pledge ADA tokens. The Ouroboros protocol selects a node pseudo-randomly every time a block must be committed to the Cardano chain, a process that is, in part, based on the amount of ADA the node has staked.
Nodes that solve blocks are rewarded with a block reward in the form of ADA. Cardano is split into three layers — the Cardano Settlement Layer (CSL), in which transactions are validated and committed to the Cardano blockchain, and the Cardano Computing Layer (CCL), in which smart contracts and other computations are calculated.
What is ADA Token Used For?
ADA is the native token of the Cardano blockchain. ADA is the fuel that drives the Cardano project, and is used to store and transfer value, stake tokens in order to participate in transaction validation, pay transaction fees, and as the Cardano network grows, participate in decentralized governance features.
Cardano as an Investment
Cardano has grown from a relatively straightforward application of Proof of Stake technology into a robust, multifaceted blockchain network. There are a number of features that make Cardano stand out when compared to other blockchain networks, such as the environmentally-friendly Proof of Stake algorithm it uses to gain consensus.
The relatively recent launch of the Cardano Computing Layer now makes it possible for developers to create decentralized applications on the Cardano blockchain, create Cardano native tokens, or use Cardano to launch entire decentralized finance ecosystems.
The development philosophy that drives Cardano focuses on a slow, methodological approach to integrating new features. As such, Cardano has displayed relatively consistent growth from launch and is therefore attractive to investors seeking a high market cap alternative to Ethereum backed by a large developer community.
What Does the Future of Cardano Look Like?
Following recent upgrades to the Cardano network that saw the launch of smart contract functionality, upcoming roadmap events such as the upcoming Cardano Basho update will see significant scalability and transaction processing upgrades integrated into the Cardano blockchain.
Other notable roadmap events for Cardano include the highly-anticipated Voltaire update, which will provide token holders with a far greater degree of input over the direction of Cardano development through decentralized governance.
Today, Cardano is a robust, widely used blockchain that provides developers with the ability to create decentralized applications and smart contracts, presenting use cases such as NFTs, DeFi, and dApps as an alternative to the relatively congested Ethereum network.
Cardano (ADA) is currently available to trade alongside over 40 digital assets via the Firstrade Crypto trading platform.
Cryptocurrency trading is provided by Apex Crypto LLC. Apex Crypto is not a registered broker-dealer or a member of SIPC or FINRA. Cryptocurrencies are not securities and are not FDIC or SIPC insured. Apex Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Firstrade Crypto LLC. Please ensure that you fully understand the risks involved before trading: apexcrypto.com/legal
What is Solana?
What is Solana and How Does it Work?
Solana is a rapidly-growing Proof of Stake cryptocurrency and blockchain network designed to facilitate extremely fast transaction speeds and scalability.
As a third-generation blockchain, Solana addresses many of the problems that prevent the widespread adoption of blockchain technology and has emerged as the most significant competitor to Ethereum (ETH).
Today, Solana is one of the most successful blockchain networks and is capable of executing transactions faster and at a larger scale than Ethereum and other cryptocurrencies. What is Solana, however, and how does it work?
A Brief History of Solana
Solana was designed by former Qualcomm Anatoly Yakovenko in 2017, who created the Solana network in order to solve a number of significant obstacles faced by the blockchain industry.
The Solana whitepaper outlines a new means of blockchain consensus called Proof of History that, unlike the Proof of Work consensus method used in many contemporary blockchain networks, doesn’t require the expenditure of significant energy resources and is capable of executing transactions at scale.
Solana Labs, the technology company responsible for the launch of the open-source Solana project, raised $20 million in private token sale funding rounds between 2018 and 2019, followed by a series A.
The Solana network first went live in February 2020 with the launch of the first Solana testnet. Today, Solana Labs operates as a major contributor to the Solana project, and is supported by team members that include professionals with industry experience ranges across Microsoft, Twitter, Apple, Google, and Intel.
How Does Solana Work & How is it Different From Ethereum?
Solana, like Ethereum, operates as a blockchain ecosystem through which smart contracts and decentralized applications, or dApps, can be deployed and interacted with.
Unlike Ethereum, however, Solana is able to execute transactions at a far greater scale. The Ethereum blockchain currently uses a Proof of Work consensus mechanism that limits the total amount of transactions that can be executed on it to roughly 15 transactions per second.
Solana, however, uses a unique hybrid consensus method that is able to execute a theoretical maximum of 65,000 transactions per second. To achieve this, Solana uses a combination of both Proof of Stake and “Proof of History” consensus methods.
Proof of Stake consensus, unlike Proof of Work, doesn’t involve the use of energy resources in order to disincentivize bad actors and reward contributors. Instead, a Proof of Stake model requires that participants lock up, or “stake” assets in order to contribute to the maintenance of the network.
Solana uses Proof of State to facilitate transaction processing and encourage the decentralization of the network — network participants are rewarded for their contribution and dedication to the blockchain.
The unique Proof of History element of Solana’s consensus mechanism is one of the most significant differences between Solana and Ethereum. Proof of History is a method of validating transactions and ensuring that they are executed in the correct order.
Solana uses a Proof of Stake model to identify the next network participant that will find the next block, while Proof of History assigns contributor roles to the next validating participant ahead of time, streamlining transaction processing.
Solana offers similar features to Ethereum, such as the ability to create and deploy complex smart contracts and decentralized applications or mint NFTs, but is able to do so at a far higher speed and lower cost when compared to the Ethereum network.
What Are Smart Contracts & Dapps?
Solana is designed to operate as a smart contract and dapp ecosystem. The smart contract and dapp functionality of Solana is highly similar to that of Ethereum, allowing anybody to create a smart contract or decentralized applications.
Smart contracts on Solana allow users to create agreements enforced by code — rather than rely on the authority of a third party arbitrator, smart contracts eliminate counterparty risk and enforce rules automatically.
Solana smart contracts can be used to create NFT minting and trading ecosystem, support the creation and development of blockchain-based games, or can be used to establish decentralized finance (DeFi) protocols. In short, Solana smart contracts offer the same use cases as Ethereum smart contracts, but are currently significantly more efficient with regard to on-chain operation.
Decentralized applications, or dapps, are blockchain-based apps that provide similar functionality to the apps and services that operate on smartphones or web browsers. Unlike traditional apps, however, dapps operate on the blockchain and are completely decentralized.
The decentralized app ecosystem active on the Solana blockchain is one of the most popular use cases of Solana. Solana is home to a massive network of decentralized applications that include blockchain-based play-to-earn games, decentralized finance platforms, NFT marketplaces, and more.
Solana as an Investment
Solana is widely considered a direct competitor to Ethereum, and is driven by the SOL token. SOL is used as the native token of the Solana platform and can be staked in order to participate in the maintenance of the Solana network.
While Solana is a next-generation blockchain that offers a number of significant advantages over contemporary blockchain networks, it’s still in the development stage — many of Solana’s most exciting features are yet to be implemented.
Blockchain maximalists that see smart contracts and decentralized applications as the future of blockchain technology typically support Solana as a strong example of the potential of smart contract technology.
Today, Solana represents an in-development network that allows Solana holders to participate and invest in the development of a potential competitor to the $217 billion Ethereum ecosystem.
What Does the Future of Solana Look Like?
Solana is rapidly emerging as one of the most popular platforms for NFTs, opening the doors to the multi-billion dollar NFT marketplace. While the Solana network is currently in development, significant partnerships with Tether (USDT), Chainlink (LINK), and integration with the Brave Browser make Solana a rapidly-growing high-potential blockchain network.
Solana (SOL) is currently available to trade alongside over 40 digital assets via the Firstrade Crypto trading platform.
Cryptocurrency trading is provided by Apex Crypto LLC. Apex Crypto is not a registered broker-dealer or a member of SIPC or FINRA. Cryptocurrencies are not securities and are not FDIC or SIPC insured. Apex Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Firstrade Crypto LLC. Please ensure that you fully understand the risks involved before trading: apexcrypto.com/legal
Top 25 Most Traded Stocks by Investors at Firstrade in July
Get the full list of top favored stocks and ETFs among Firstrade investors in the last month.
Here’s the full list of top favored stocks among Firstrade investors:
Tesla Inc. (TSLA)
NVIDIA Corporation (NVDA)
Apple Inc. (AAPL)
Advanced Micro Devices, Inc. (AMD)
Taiwan Semiconductor Mfg. Co. Ltd. (TSM)
Amazon.com, Inc. (AMZN)
Microsoft Corporation (MSFT)
Alphabet Inc Class A (GOOGL)
Alphabet Inc Class C (GOOG)
Meta Platforms Inc. (META)
Bank of America Corp (BAC)
Carnival Corp (CCL)
Unity Software Inc. (U)
Alibaba Group Holding Ltd-ADR (BABA)
Occidental Petroleum Corporation (OXY)
Palantir Technologies Inc. (PLTR)
Nio Inc. (NIO)
American Airlines Group Inc. (AAL)
Berkshire Hathaway Inc. Class B (BRKB)
Netflix Inc. (NFLX)
Intel Corp (INTC)
Boeing Co. (BA)
Coinbase Global Inc. (COIN)
Shopify Inc. (SHOP)
Upstart Holdings Inc (UPST)
What is Bitcoin?
What is Bitcoin and how does Bitcoin work?
Bitcoin (BTC) is the most popular, valuable, and widely known digital currency. First launched in 2009, Bitcoin is the first wholly decentralized currency — unlike fiat currencies such as the US dollar or Euro, there are no banks or centralized authorities responsible for the issuance or management of Bitcoin.
Bitcoin exists on a worldwide network of computers operated by independent individuals and organizations. These individuals participate in the Bitcoin network by checking the validity of and processing transactions, ensuring the Bitcoin network is secure.
Like traditional financial institutions such as banks, Bitcoin balances and transactions are recorded on a ledger. Unlike the ledgers maintained by traditional financial institutions, however, the Bitcoin ledger is decentralized.
The launch of Bitcoin has had a profound impact on the traditional financial ecosystem, catalyzing the growth of a cryptocurrency market worth over $3 trillion. All cryptocurrencies in existence today rely on the fundamental design concepts of Bitcoin. What is Bitcoin, though, and how does Bitcoin work?
The History of Bitcoin
Bitcoin is a highly unique means of value transfer and storage in that the party or parties that originally created and launched the Bitcoin network are unknown. The Bitcoin white paper, which outlines the design, operation, and core principles of the Bitcoin network was originally published via a cryptography mailing list in 2008.
The Bitcoin network first launched in January 2009, with the original developer, Satoshi Nakamoto, sharing open-source client software that allowed users to participate in the Bitcoin network. Over time, the number of individuals participating in the Bitcoin network and operating “nodes” — a term that refers to a computer running Bitcoin software — has grown to over 200,000.
How Does Bitcoin Work & What is the Bitcoin Blockchain?
Bitcoin is an digital asset — Bitcoins exist as digital values on a decentralized ledger maintained by participants in the Bitcoin network. This ledger is not controlled by any single individual or institution but is instead maintained and secured by participants. Every party participating in the maintenance of the Bitcoin network downloads and maintains a copy of the BTC blockchain.
This massive network of separate copies of the Bitcoin ledger, or blockchain, is what allows Bitcoin to operate without the need for a centralized authority. When a Bitcoin user wants to send a transaction to another user, they will create a transaction which is then broadcast to the entire Bitcoin network.
This transaction is then verified by individuals participating in the Bitcoin network and, if verified, collected into a set of transactions called a “block.” Each block contains a set of transactions and a reference to the previous block, and is secured with complex cryptography.
Bitcoins exist within “wallets” on the blockchain. Each wallet is an address — Bitcoins are assigned to addresses and are transacted between these addresses.
What is Bitcoin Mining?
Bitcoin miners play a critical role in the maintenance and security of the Bitcoin network, and are a significant contributing factor in what makes Bitcoin valuable.
Any Bitcoin network participant can assist in processing Bitcoin transactions and adding them to the blockchain. To prevent malicious parties from adding fraudulent transactions to the blockchain, Bitcoin uses a system called “Proof of Work.”
A block of transactions on the Bitcoin network is collected into a group called a “block” and encrypted using an extremely complex algorithm. Bitcoin miners work to “solve” this block — the block, once encrypted, must be validated by solving extremely complex equations.
The first individual to solve the block and commit it to the Bitcoin blockchain receives a “block reward,” which is currently worth 6.25 Bitcoin. This is how new Bitcoins are created.
Why is Bitcoin valuable, though? Bitcoin mining isn’t free — the complex nature of the equation used to solve blocks means that it’s necessary to “guess” the solution necessary to commit it to the blockchain.
What is the Difference Between Bitcoin and Fiat Currencies?
The decentralized nature of Bitcoin is the most significant difference between Bitcoin and fiat currencies such as the US dollar. Bitcoin is not controlled by any centralized authority and is instead maintained through the collaborative efforts of Bitcoin network participants. Bitcoin wallets and transactions cannot be frozen, interfered with, or interrupted.
Another key difference between fiat currencies and Bitcoin is the limited supply of Bitcoin. The total number of Bitcoins that will ever exist is limited to 21 million. To date, almost 19 million Bitcoins have been distributed as block rewards to miners. Bitcoin is deflationary in nature, as opposed to the inflationary nature of fiat currency issued by state authorities.
Bitcoin as an Investment
The digital asset market is, when compared to traditional asset markets, highly volatile. Bitcoin benefits from network effects in that demand for Bitcoin increases as Bitcoin adoption accelerates.
Bitcoin and digital asset maximalist perspectives argue that the deflationary nature of Bitcoin makes it a potentially profitable long-term investment when compared to inflationary assets. Bitcoin represents a novel asset class uncorrelated with traditional securities and is therefore appealing to investors seeking to establish diversified investment portfolios.
Bitcoin as a Payment Method
Bitcoin, originally envisioned as a decentralized peer-to-peer payment method, can be used to purchase a wide range of goods and services. Over 15,000 businesses around the world now accept Bitcoin as a payment method, including travel booking and accommodation platforms or e-commerce platforms. Bitcoin is also frequently used to purchase real estate, with a number of international real estate agencies focused specifically on Bitcoin real estate sales, as well as exotic vehicle brokers.
What does the Future of Bitcoin Look Like?
As Bitcoin adoption accelerates, regulatory interest in digital assets is likely to increase. The relatively new digital asset ecosystem, however, is constantly evolving.
Broader institutional cryptocurrency adoption of Bitcoin as a speculative asset has generated significant capital flow into the Bitcoin network, establishing Bitcoin and other cryptocurrencies as a novel, uncorrelated, and volatile asset class worth taking into consideration in portfolio diversification.