by Marvin Dumont
Everyone’s ready for a sea of green.
The $133 billion cryptocurrency market is up 5.5% so far in 2019. Trading volume for all 2,000+ cryptos hit a 300-day high on Feb. 19, reaching $33.85 billion, and the trend shows growing interest in digital asset class. Moreover, the overall market gained 12% during the last 7 days.
Apollo (APL) all-in-one privacy currency is positioned to take advantage of capital influx in the space. The project differentiates itself by combining mainstream features into a private and unregulatable platform. (See privacy chart below.)
With 2-second block speed, APL is also one of fastest cryptos on Earth. Coincheckup.com gives Apollo one of highest score ratings of 4.5 out of 5.
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What are positive developments in the industry? Big banks are realizing the power of blockchain, and this can inspire institutional money to invest more in programmable monies, as well as, innovations that support the new asset class.
London-based banking giant HSBC reported this week that it’s achieving 25% savings from foreign exchange (forex) trading using blockchain. The bank processes between 3,500 to 5,000 trades daily worth $350 billion. J.P. Morgan this month also announced the successful test of JPM Coin, a blockchain-based digital coin for facilitating institutional settlements.
Institutional investors include investment banks, hedge funds, university endowments, pension funds, wealth management firms, and family offices.
This week, University of Michigan’s endowment announced it will further commit to Andreessen Horowitz’s cryptocurrency fund a16z. (It did not disclose an exact amount.) But other endowments are likely to follow UM’s lead in a copycat industry.
Moreover, Pantera Capital has secured $125 million out of targeted $175 million crypto fund — the firm’s third fund. It’s expected to close in March.
The Apollo platform lets you transact and send data in total anonymity via tech breakthroughs such as private ledger, decentralized exchange, coin mixing, and advanced IP masking. With 2-second block speed, APL is also one of fastest cryptos on Earth.
Learn more about Apollo’s groundbreaking tech: