Other companies have also seen massive stock price increases on relatively unimpressive news related to cryptocurrencies. For example, Longfin, a small cap stock, recently exploded in value - rising more than 1,300 percent - after announcing it would buy a defunct cryptocurrency.
Other industry experts agree that euphoria is gripping the industry, though they see the potential for real Blockchain use cases to continue to gain momentum. Dominik Schiener Co-Founder of IOTA told Cointelegraph:
"The entire market as it stands today, is in a bubble with more than a few dozen projects having reached unicorn valuation. This obviously won't last long, as 2018 will be a year where we will see a major consolidation happening, with every project having to prove its merit not just to the market, but also to the public. After all, only the projects with real-world adoption and true value will prevail."
