Unicorn of the Crypto Industry: Top 10 Highest Valued Blockchain Companies

The cryptocurrency industry has been developing for decades, with blockchain companies valued at over $1 billion growing rapidly. This article compiles a list of the top ten highest-valued blockchain companies, led by Bitmain.

Among any company with a valuation exceeding $10 billion, the proportion of blockchain and cryptocurrency startups is relatively low. In the 2019 global unicorn rankings, there were only around 500 companies globally, with very few being cryptocurrency companies.

However, not every cryptocurrency company issues tokens with market value or develops exchanges with trading volume as evaluation metrics. Therefore, valuation remains one of the key indicators to evaluate the success of a company.

Bitmain - $12 billion

Bitmain is the most valuable cryptocurrency company to date. As a mining company, it profits from selling Bitcoin mining machines, operating mining pools, and introducing venture capital. Bitmain's valuation is estimated at around $12 billion, originally reported by Chinese news media "Caixin" in 2018.

Coinbase - $8 billion

Coinbase, founded in 2012, is one of the leading exchanges in the United States. Additionally, the company provides Coinbase Custody services to institutional investors and offers cryptocurrency payments through Coinbase Commerce. In October 2018, Coinbase announced that its valuation had exceeded $8 billion.

Robinhood - $7 billion

Robinhood initially focused on becoming a commission-free stock trading platform and started cryptocurrency trading in 2018. The platform is often referred to as the "trading app for millennials," which is undoubtedly a key to its success. In May of this year, the company first announced its $7 billion valuation.

Ripple - $5 billion

Ripple is the issuer of the third-largest cryptocurrency XRP and also offers payment and settlement services through RippleNet. According to a 2018 Forbes report, Ripple is valued at $5 billion, significantly different from its XRP token market value of $9 billion.

Kraken - $4 billion

Kraken is also one of the mainstream exchanges in the cryptocurrency market. In February of this year, the company made significant expansions by acquiring the UK futures trading platform Crypto Facilities, underwent a complete rebranding, and completed a $13 million financing round during the same period, raising its valuation to $4 billion.

Circle - $3 billion

Circle is a diversified cryptocurrency service company. According to a report, Circle was initially a payment company and began offering trading and investment services in recent years. Additionally, Circle is the issuer of the mainstream stablecoin USD Coin. After receiving $100 million in funding, Circle reached a valuation of $3 billion in 2018.

Block.one - $3 billion

Block.one is the parent company of the seventh-largest cryptocurrency EOS and one of Ethereum's main competitors. According to a Bloomberg report in March of this year, Block.one's market value has reached $3 billion, with most of its assets held in liquid fiat assets and government bonds.

Binance - $2 billion

Binance is currently the largest exchange by trading volume globally, and its platform token BNB, launched in 2017, is the eighth largest cryptocurrency by market capitalization. In an interview in October this year, its CEO Changpeng Zhao confirmed that Binance's valuation is at least $2 billion and claimed that the actual number might be higher.

BitMEX - $3 billion

BitMEX is a cryptocurrency exchange, primarily offering futures and perpetual contracts, known for leveraged trading, establishing its market foundation. In July 2018, based on BitMEX's annual profit, The New York Times pointed out that its company valuation reached $3.6 billion. However, other estimates indicate that the company's actual value is closer to $1 billion.

Canaan Creative - $2 billion

Canaan Creative is a mining company, ranking second in mining machine sales after Bitmain. Although the company's profitability is gradually declining, Canaan has managed to maintain its company valuation. In a recent IPO, Canaan's valuation is estimated to be between $2 to $3 billion.

In addition to the top ten dominant institutions in the cryptocurrency industry mentioned above, several other unicorn companies have also performed remarkably well. Startups such as Dfinity, Ebang, Bitfury, Liquid, Revolut, and Polkadot have valuations slightly above the $1 billion mark.

Related Reads

• Cardano launches AdaPay, supporting up to 35 fiat currencies
• IOTA to release a digital identity experimental application in the first half of 2020

Join now to get the most complete information on financial technology, blockchain updates, and industry examples!