Today we will talk about blockchain companies that have a market capitalization of over a billion dollars. There are no more than five hundred such big companies in the world altogether, and only a few of them operate in the crypto industry.
Hurun Research Institute conducted market research to discover which cryptocurrency companies were the most successful, and now Changelly will tell you all about them.
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Best Blockchain Companies in 2019
The valuation of a company if as good of a measure of success in the crypto industry as it is in any other. A company’s profit level demonstrates its power in the cryptocurrency sphere. Now, let’s take a look at the list of the best blockchain companies by the end of 2019.
#10. Canaan Creative
Approximate capital: 2 billion dollars
Canaan Creative ranks second after Bitmain in terms of number of sales of mining equipment. Despite that, and their many years of success, the company’s profit is declining. Still, Canaan has managed to maintain unicorn status: the company was valued at $2-3 billion before the recent IPO where it has attracted $90 million.
In September, Chinese mining equipment manufacturer Canaan Creative introduced the new ASIC miner for Ethereum. According to the documentation, the new Canaan device works according to the Ethash algorithm and surpasses other equipment in terms of W/MHs by 5-7 times.
Read more about Canaan Creative here.
#9. Binance
Approximate capital: 2 billion dollars
Binance is the largest cryptocurrency exchange in terms of trade volume. The company has its own Binance Chain blockchain and the local Binance Coin cryptocurrency. According to CEO Changpeng Zhao, Binance has a market capitalization of about $2 billion.
Just the other day, Binance Bitcoin Exchange has made it possible to directly purchase/sell cryptocurrencies for eight more fiat currencies.
Read more about Binance here.
#8. BitMEX
Approximate capital: 3 billion dollars
BitMEX is a cryptocurrency exchange platform which primarily offers futures and perpetual contracts. They allow investors to engage in trade with borrowed funds. In July 2018, the Times business newspaper valued BitMEX at $3.6 billion. However, there are other estimates, according to which the actual value of the company may be closer to a billion dollars.
Recently, BitMEX, the largest exchange of bitcoin derivatives, has leaked user data. Some users received emails containing the email addresses of other platform clients. It can be assumed that BitMEX employees forgot to put the recipients of the email newsletter in a hidden copy of the letter, which is why the privacy of users was compromised.
Read more about BitMEX here.
#7. Block.one
Approximate capital: 3 billion dollars
Block.one is the company responsible for issuing EOS, the seventh-largest cryptocurrency and Ethereum’s main competitor. In March, Block.one was estimated at $3 billion in a newsletter issued by Bloomberg.
Recently, Block.one came to an agreement with the US Securities and Exchange Commission (SEC) to pay a fine of $24 million for violating securities laws during an ICO EOS project.
SEC also concluded that Block.one did not provide ICO investors (including American citizens) the sufficient information.
#6. Circle
Approximate capital: 3 billion dollars
Circle is a fairly multifaceted company that offers various services related to cryptocurrencies. Initially, the company positioned itself as a payment service. However, soon it also started offering trading and investment features. The company is also responsible for the issue of the popular stablecoin USD Coin. In 2018, Circle reached an estimated market cap of $3 billion after a round of financing worth $100 million.
Poloniex cryptocurrency exchange has recently announced a reorganization of the company structure and a number of other major changes. Poloniex will separate from Circle, thus becoming inaccessible to users from the USA.
Poloniex announced on Twitter that Circle will continue to provide a wide range of financial products, including USDC stablecoin, crypto-brokerage, and trading services, online fundraising services, as well as support for the SeedInvest platform.
Read more about Circle here.
#5. Kraken
Approximate capital: 4 billion dollars
Kraken is a significant cryptocurrency exchange. In February, the company experienced a major expansion, acquiring a platform for trading futures, carried out a thorough rebranding and hired new employees. Around the same time, Kraken closed the $13 million round of fundraising, and as a result its current market capitalization grew to $4 billion.
The American cryptocurrency exchange Kraken announced a partnership with Silvergate Bank. It will allow users of the site to make commission-free quick transfers at any time of the day.
Read more about Kraken here.
#4. Ripple
Approximate capital: 5 billion dollars
Ripple is responsible for the release of the XRP cryptocurrency token, the third-largest crypto on the market. The company also manages several payment and settlement services, which are offered under the RippleNet brand.
The number of transactions on the RippleNet network has grown 10 times over the last year. It is used by more than 300 client companies. Ripple CEO Brad Garlinghouse has already stated that this year was the strongest for the California fintech startup.
Read more about Ripple here.
#3. Robinhood
Approximate capital: 7 billion dollars
Robinhood started as a stock exchange with an emphasis on trading stocks without commission. The platform appeared as a crypto trading area only in 2018. In May 2019, the company for the first time reported its own market capitalization of $7 billion.
Recently, a division of Robinhood International received a broker license from the Office of Financial Regulation and Supervision of the United Kingdom (FCA). This will allow the company to launch a UK-based mobile app for trading stocks and cryptocurrencies.
#2. Coinbase
Approximate capital: 8 billion dollars
Coinbase is famous for its trading platforms for professional and retail trading. However, the company also has other sources of income. The company provides institutional investors with the Coinbase Custody service for storing cryptocurrencies and the sellers with the Coinbase Commerce special payment gateway. In October 2018, Coinbase announced that it exceeded an $8 billion market valuation.
Recently, Coinbase cryptocurrency exchange has patented a self-learning legal compliance platform that automatically closes unwanted user accounts. The system is constantly learning based on the data collected, updating the reference model of a good account.
The patent describes an automated system and an appropriate evaluation mechanism that jointly identify accounts that do not comply with legal standards. In particular, those suspected of illegal activities.
Read more about Coinbase here.
#1. Bitmain
Approximate capital: 12 billion dollars
Bitmain is by far the largest cryptocurrency company. The company has accumulated wealth by selling mining equipment for Bitcoin and other coins. Additionally, the company has its own mining pools and mining farms, and also attracts venture capital. According to the Chinese news agency Caixin, Bitmain’s market capitalization is at about $12 billion.
How the financial affairs of the company are going now is unclear. At the end of October 2019, one of the co-founders of the company resigned. Bitmain co-founder Mikri Zhang has promised to use legal tools to return to the company. He is disappointed with the betrayal of his partner, whom he called brother, and has even threatened a war.
Read more about Bitmain here.
Summary
It is very difficult to become a blockchain company a billionaire among other financial giants due to the skepticism of cryptocurrencies.
However, there are other companies that are among the giants: Dfinity, Ebang, Bitfury, Liquid, Revolut and Polkadot. They are also among the startups, whose capitalization now exceeds one billion dollars.
