The Digitalx Ltd (ASX: DCC) share price has continued its meteoric rise and is up a further 26% to 17 cents in afternoon trade.
This means the blockchain technology company's shares have gained over 188% in just one month.
Why are its shares higher?
Speculators have been fighting to get hold of the company's shares due to its exposure to the blockchain industry and bitcoin.
In the last few months the company has announced plans to launch Bitcoin ATMs and expand into initial coin offerings.
Furthermore, the company reported that its Blockchain Consulting business has started to gain traction.
However, whether this is enough to justify its market valuation only time will tell.
During the last quarter DigitalX generated revenues of approximately US$214,000 from corporate advisory fees and US$11,000 from referral fees.
Based on the 418 million fully paid ordinary shares outstanding, the company currently has a market cap of $71 million.
