2% of unicorns, startups with valuations greater than $ 1 billion, come from companies in the blockchain and cryptocurrency industries. What are they, how have they developed in recent years? Focus on the future giants of virtual currency.
Cryptocurrency: Startups valued at over $ 1 billion
Startups with a valuation of more than a billion are called unicorns because of their rarity. Indeed, there are few young shoots gaining momentum quickly to disrupt the established model and establish themselves in their markets. The threshold of one billion ratings is therefore difficult to reach. We can therefore assume that the famous unicorns have everything to become the champions of tomorrow. These tech companies challenge the heavyweights of finance. Essentially American, crypto-related fintechs are positioning themselves in an emerging market, not to mention stuttering that should grow in the years to come.
Cryptocurrency and the stock market: the strongest gains
If cryptocurrencies are digital assets that are not listed on the stock exchange, the companies that issue them or allow investors to position themselves on those assets can theoretically be listed on the stock exchange. However, companies browsing due to the lack of control of tokens by a central bank or financial institution seem in no rush to join an exchange and suffer from the limitations of being listed on a stock exchange. However, their valuation sometimes reaches considerable sums and their growth is extremely rapid. Ripple, valued at $ 10 billion, is a long way from Apple’s market cap, which is nearly 20 times larger, but the company’s size is by no means negligible – far from it. And the stock market valuation has doubled over a year! It is one of the 10 startups whose value has increased the most over a year according to the Hurun Global Unicorn Index 2020.
Ripple: the new Bitcoin in mind
So it’s no wonder that Ripple is the number one unicorn in the virtual currency industry. This blockchain technology-based virtual currency is owned by a very small number of players, including the network’s developers. 61.3% of the 100 billion XRP coins are owned by the issuer, hence the importance of its rating and the correlation of the rating with that of the token price.
It should also be noted that Ripple is much more than a cryptocurrency as it is also a digital payment protocol designed to facilitate interbank payments.
Also discover our article Ripple: the new Bitcoin?
Coinbase: the American cryptocurrency exchange
$ 8 billion worth of Coinbase has more than 35 million users in 100 countries worldwide. It is the world’s first regulated exchange. The exchange platform that lets you invest in cryptocurrencies by buying, selling and storing tokens has a bright future ahead of it in the face of the Bitcoin industry boom as the value of BTC portfolios’ amounted to June 30 on the platform to $ 169 billion. But Ethereum’s success is also a growth engine for the industry in general and the Coinbase platform in particular.
Binance: Record Growth for Virtual Currency Exchange Worldwide
But the Coinbase exchange has many competitors, and among them Binance is arguably the most serious. The $ 3 billion company, well behind Coinbase, posted record growth this year making it a promising contender. As a result, Binance has gained 30 spots in the Hurun Global Unicorn Index 2020 this year and made the 108th step on the unicorn charts. Note that on September 3, 2020, Binance announced its membership of Blockchain for Europe, the European association that represents international participants in the blockchain industry at the EU level. Enough to establish yourself as a leading exchange!
Note that Binance Coin is the currency provided by the exchange platform run by Changpeng Zhao. Often in the top 10 cryptocurrencies in terms of market capitalization, the BNB token was previously developed in the Ethereum blockchain before its own blockchain was established as a benchmark token.
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