What’s the value of Ampleforth’s supply-elastic cryptocurrency?

Unlike most crypto protocols today, in which the token acts similar to equity ownership of the protocol, Ampleforth’s AMPL is intended to be a currency. Recently, Ampleforth has seen a massive surge in interest. On June 1st, the market capitalization of AMPL was $7.8 million. Less than two months later it stands at $330.5 million — a 4130% increase.

In June 2019, AMPL was the first Initial Exchange Offering held on Bitfinex’s IEO platform. During the offering, Ampleforth raised $5 million in just 11 seconds, which was the hard cap for the fundraise. Previously, Ampleforth had raised $9.8 million in two venture rounds from notable investors such as Pantera Capital, Arrington XRP Capital, Slow Ventures, FBG Capital, The Spartan Group, and Coinbase CEO Brian Armstrong.