April 17, 2021

10 largest companies in the cryptocurrency industry

10 largest companies in the cryptocurrency industry

Companies whose capitalization exceeds $ 1 billion are called "unicorns." According to Hurun Research Institute, there are just under 500 of such companies in the world, and cryptocurrency startups make up only a small part of them.

Not every cryptocurrency company issuescoins with market capitalization, or is an exchange with a trading volume. Valuation of a company can be a worthy indicator of overall success. Let's get acquainted with the top 10 cryptocurrency companies that managed to overcome the level of capitalization of $ 1 billion.

  • Bitmain ($ 12 billion) Is the most expensive cryptocurrency company,which has accumulated wealth through the sale of equipment for mining Bitcoin, managing huge mining farms, as well as attracting venture capital. Bitmain was worth about $ 12 billion in June 2018.
  • Coinbase ($ 8 billion) Is an international cryptocurrency exchange that is knownits professional and retail trading platforms, as well as its many revenue streams. For example, the company provides Coinbase Custody cryptocurrency storage service for institutional investors, as well as Coinbase Commerce service for trading companies. In October 2018, Coinbase announced that its value exceeds $ 8 billion.
  • Robinhood ($ 7 billion) - a company that began to work asa platform for trading stocks, and since 2018, it has also introduced services for trading cryptocurrencies. The company often calls itself a "trading application for millennials," which contributed to its popularity. The $ 7 billion valuation was first announced in May 2019.
  • Ripple ($ 5 billion) Is the third largest issuer of XRPcryptocurrencies in the market. The company also has several payment and clearing services that operate under the RippleNet brand. Back in September 2018, it was reported that the value of Ripple was estimated at $ 4.7 billion, and XRP's current market capitalization was $ 9.9 billion.
  • Kraken ($ 4 billion) Is an American cryptocurrency exchange that alsostrives to significantly expand its services. Recently, the company acquired a platform for trading futures, rebranded it and hired additional employees. As a result of a round of financing of $ 13 million, the company's value grew to $ 4 billion.
  • Circle ($ 3 billion) Is a payment company with diversecryptocurrency services, also offering investment. Circle also runs the popular stablecoin USD Coin. In 2018, Circle was valued at $ 3 billion after a round of financing of $ 100 million.
  • Block.one ($ 3 billion) Is the issuer of the EOS cryptocurrency, which is locatedin seventh place by market capitalization, and is also considered the main competitor of ethereum. According to Bloomberg, in March 2019 Block.one was valued at $ 3 billion, $ 2.2 billion of which are investments in securities.
  • Binance ($ 2 billion) - it is the largest cryptoexchange in the world by volumetrading, which also has its own Binance Coin (BNB) coin and its own Binance Chain blockchain. Not long ago, Binance CEO Changpeng Zhao said his company could cost about $ 2 billion or more.
  • BitMEX ($ 3 billion) Is a cryptocurrency exchange that offersfutures and perpetual contracts using borrowed funds. In July 2018, BitMEX was valued at $ 3.6 billion. According to other estimates, the actual value of the company is about $ 1 billion.
  • Canaan Creative ($ 2 billion) Is a manufacturer of mining equipment,which is inferior to Bitmain in terms of sales. Although the company's profit has recently been declining, Canaan has managed to maintain unicorn status, and during the recent IPO, its value was estimated from $ 2 to $ 3 billion.

The unicorns listed above aregenerally recognized titans of the crypto industry. However, there are other unicorns that barely hold their ground - companies like Dfinity, Ebang, Bitfury, Liquid, Revolut, and Polkadot, which cost just over $ 1 billion.

However, in the crypto industry there are also such companies that do not reach a value of $ 1 billion, but retain a strong position in the business.