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Despite their extreme volatility, cryptocurrencies have taken the world by storm over the past few years. While massive energy consumption in the mining process and illegal activities like money laundering remain a concern, cryptocurrency trading could keep soaring as several countries legalize these digital assets. Investors’ interest in the high-flying and digital currencies continues to grow amid favorable government policies to regulate them. Moreover, rising interest in digital collectibles should further drive the growth of crypto trading platforms. Therefore, we think both COIN and SOFI should benefit.
SOFI has gained 3.7% in price over the past three months, while COIN has negative returns. However, COIN’s 15.1% gains over the past six months are significantly higher than SOFI’s negative returns.
