by Marvin Dumont
The cryptocurrency market is up 165% for 2019, rising from $127 billion to $336 billion (as of this writing). Apollo’s (APL) market cap has risen 160% since Jan. 1st.
In 2017, retail investors drove up prices to historic levels. But this time around, whales are driving up valuations and wiping out losses.
This year, nearly 85% of the top 100 Bitcoin addresses increased their BTC balances. Thus, there’s real fomo (fear of missing out) among whales. They’re accumulating a new asset class that is perceived to have long-term use cases.
In other words, it’s not hype anymore. January 2018 may have been an epic bubble, but blockchain networks are improving their value propositions. And the market is maturing.
Institutions are also following other institutions who are writing big checks to acquire cryptos. University endowments, family offices, and hedge funds don’t want to miss out on appreciating digital assets.
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