The second half of 2021 has just begun. As mainstream investors’ resistance to cryptocurrencies for many years begins to fade, the number of unicorns in the cryptocurrency world has increased.
Since this year, there have been more than 50 cryptocurrency and blockchain related projects stand up To the coveted unicorn status, market analysts predict that there will be more in the future.
Unicorn is a company valued by venture capitalists of more than $1 billion. Some examples of mainstream unicorns include Airbnb, Uber, and Elon Musk’s Space X, all of which have managed to obtain tens of billions of dollars in valuations.
In the crypto field, Coinbase, a large crypto exchange headquartered in the United States, is a good example of how fast companies in the crypto industry can Rise To a prominent position.
According to analysts, as companies such as Amber Group, Blockchain.com and OpenSea stand out and join the exclusive club of companies worth more than $1 billion predict As the mainstream adoption of encryption and blockchain increases, the list will continue to grow.
The startup list is BlockFi. This New Jersey-based crypto user financial services company completed a D round of financing at a price of up to 350 million U.S. dollars in March of this year. Set its value at 3 billion U.S. dollars.
Considering that the company only raised US$50 million in its Series C financing last year, BlockFi was founded by Zac Prince and Flori Marquez in 2017 and has achieved an impressive round of financing.
BlockFi provides various products for retail crypto investors, including crypto exchanges and interest-bearing accounts, and crypto loans issued at low interest rates. This startup prides itself on being one of the few cryptocurrency exchanges with zero commissions and zero transaction fees.
With these benefits, BlockFi’s user base has grown from approximately 10,000 at the end of 2019 to more than 250,000 retail customers and 200 institutional investors, and it is still increasing. Taking into account its latest round of financing, BlockFi has raised approximately US$450 million since its inception.
Next is Bitpanda. Formerly Coinmal, this Austria-based startup and crypto brokerage service reached a valuation of US$1.2 billion after its Series B financing, and the startup raised US$170 million.
The funding series is Led by Valar Ventures, A venture capital company headquartered in New York, was established in 2010 and is supported by partners such as DST Global. Valar Ventures is increasingly involved in crypto startups and is also an investor in trading app Robinhood.
With the increasing popularity and acceptance of cryptocurrencies, not to mention that cryptocurrency bull markets tend to increase the revenue of cryptocurrency market infrastructure providers, Bitpanda’s latest round is a step forward from its Series A financing nine months ago. propose US$52 million.
according to Bitpanda CEO Eric Demuth stated that the company has been profitable for the past four years, thus highlighting to investors the company’s ambition to become Europe’s leading cryptocurrency payment and trading platform.
“We have been profitable, and we have been profitable for four years, but in September we changed our strategy, hoping to become a European investment platform,” Demus said.
The CEO of Bitpanda also pointed out that the company is looking for more partners to obtain more funds and top talent. In terms of service quality, Bitpanda is considered a reputable and fast service, not to mention a cheap alternative to crypto traders and investors.
In the first quarter of 2021, encryption and blockchain infrastructure provider Fireblocks raised $133 million in its Series C financing.
This startup helped the company by eliminating the complexity of using digital assets, and has since added another $310 million. D round July 27.
Fireblocks’ recent fundraising has made the company’s valuation soar to $2.2 billion in just five months. Taking into account its latest financing, this New York-based startup has successfully raised $489 million since its inception.
Since the beginning of this year, the user base of Fireblocks has increased from approximately 150 to 500. In addition, the company’s annual recurring revenue in the last two quarters of 2021 has also increased by more than 300%.
Michael Shaulov, CEO and co-founder of the company Say They are “expected to grow by 500% by the end of the year.”
Considering that the company’s annual recurring income in 2020 has increased by 450% compared to 2019, the company’s valuation in 2021 has increased.
“We have adjusted our revenue forecast for 2021 three times,” Shaulov added when talking about the valuation increase.
Later Listing through merger And VPC Impact Acquisition Holdings in January 2021, Bakkt’s valuation is set at 2.1 billion U.S. dollars.
Bitcoin futures exchange backed by the Boston Consulting Group and Microsoft received US$207 million in cash and an additional US$325 million from other investors, not to mention US$50 million from the Intercontinental Exchange.
The funds raised by Bakkt are expected to fund the company’s shift to consumer applications focused on digital assets.according to Report, More than 400,000 customers have pre-registered for the Bakkt app because the platform supports more than 30 loyalty programs.
The company provides crypto trading and payment functions through a fully regulated Bitcoin derivatives futures and options market.
Recently, the Indian cryptocurrency exchange CoinDCX Announced that it has raised USD 90 million In the C round of financing.
This Mumbai-based startup will become India’s first cryptocurrency company to become a unicorn after the investment round led by B Capital Ground and the participation of Block.one, Polychain, Jump Capital and Coinbase Ventures.
So far, CoinDCX has gathered more than 3.5 million users, and they intend to use their latest fundraising funds to speed up the user registration process for up to 50 million users in India.
In one Announcement, CoinDCX CEO Sumit Gupta stated that the company “will join hands or establish partnerships with major fintech players to expand the crypto investor base, establish a research and development (R&D) facility, and strengthen policy dialogue through public discourse, and the government Introduce favorable regulations, education, and expand recruitment plans.”
CoinDCX’s move came at a time when the Indian government had great regulatory uncertainty regarding its cryptocurrency position.Although the regulatory framework proposal has Submitted by various market participants, The Indian government has long Condemn the use of cryptocurrency.
Blockchain.com, formerly known as Blockchain.info, is a popular crypto wallet and exchange that has grown significantly since its establishment in early 2011.
Blockchain.com has more than 800 billion U.S. dollars in crypto transactions to date US$120 million raised In a round of financing, the value of the platform exceeded $1 billion.
Blockchain.com was originally a blockchain browser, allowing access to Bitcoin (Bitcoin) The blockchain and all its transaction data, from fees to the number of confirmations per transaction, and wallet address.
The platform currently serves more than 30 million active users, and its user base has tripled in the past year. Blockchain.com has provided support for exploring and exchanging other blockchain-based cryptocurrencies besides Bitcoin.
Soon after raising 120 million U.S. dollars, Blockchain.com raised another 300 million U.S. dollars in March, a record Worth up to US$5.2 billionThis is part of the company’s C round of financing, and venture capital firms such as DST Global, VY Capital, and Lightspeed Venture Partners participated in this round of financing.
Institutional capital is ready to get involved in cryptocurrency
With every bust and boom cycle of Bitcoin, the crypto market will continue to grow as market experts predict Unicorn herd will expand 2021 is even further away.
After years of hard work in multiple stages of cryptocurrency volatility, pioneers and pioneers in the cryptocurrency field began to reap wealth.
As more and more companies continue to achieve unicorn status, evidence that the crypto market is slowly but surely maturing has become apparent.A significant increase Institutional capital flow Enter the encryption field, therefore, it is only a matter of time before encryption becomes mainstream.