by Marvin Dumont
The crypto market’s strong rally means that valuations are at 9-month highs. The industry’s market cap rose over $220 billion on Sunday, a level not seen since Oct. 2018. The spike continued to $234 billion as of late Monday (EST).
There are two consequences of this price trend:
- Retail and institutional confidence are back, and it’s causing a domino effect of renewed optimism towards cryptos and blockchain projects.
- The spotlight is on regulators to create appropriate rules and/or to move out the way of innovation that users want.
Bitcoin shot up to $7,400 — a price level not seen since Aug. 2018, before dropping to the $7,100 range early Monday. But late in the day, however, BTC passed the $8,000 mark.
Since Dec. 16 the crypto market has gained nearly 125%. Bulls such as Tom Lee, Tim Draper, John McAfee, and others are also influencing others to adopt an optimistic view towards the market.
Apollo (APL) all-in-one privacy currency has a market cap of $24–25 million on CoinMarketCap as of mid-May.
Much of APL trading volume can be found on BitMart and IDAX exchanges. Apollo has BTC and ETH trading pairs on both platforms.
Users must exercise caution when using funds.
Binance announced a serious hack last week. Hackers stole 7,000 bitcoins (worth $41 million at the time) from the exchange’s hot wallet. “The hackers accessed user API keys and two-factor authentication codes to withdraw the funds,” according to CoinDesk.
Apollo (APL) all-in-one privacy currency combines features of mainstream cryptocurrencies in a truly private and unregulatable platform. With two-second block speed, APL is one of the fastest cryptos on Earth. The privacy platform lets “Apollonauts” transact and send data anonymously via Encrypted Messaging, Private Ledger, Decentralized Exchange, IP Masking 2.0 and Coin Mixing. Learn more at www.apollocurrency.com