Study: 11 blockchain companies enter the global unicorn index

The number of private companies with a market capitalization above $1 billion in 2020 rose from 494 to 586. In Hurun Global Unicorn Index 2020, 11 blockchain startups were listed. The same as last year.

The number of #blockchain unicorns this year seems to fail to swell higher from last year as most industry watchers expect, according to the Hurun Global Unicorn Index 2020. https://t.co/McHlMJ0W62

— 8BTCnews (@btcinchina) August 5, 2020

The value of the blockchain companies listed in this index accounted for 2% of the total market capitalization of all unicorns.

Selection of blockchain unicorns from Hurun Global Unicorn Index 2020.

Over the past year, Ripple improved its position, its valuation doubling—from $5 billion to $10 billion. The fintech startup’s growth rate was the tenth-highest among all unicorns.

The cryptocurrency exchange Binance climbed 30 places to a valuation of $3 billion. Also entering the list were Figure Technologies and the Bitcoin exchange Kraken. The latter, valued at $4 billion, immediately took 70th place.

The valuations of seven other blockchain companies from the Hurun Global Unicorn Index 2019 declined over the past year. The value of the largest US cryptocurrency exchange, Coinbase, remained unchanged at $8 billion.

Bitmain posted the most pronounced decline. The maker of mining hardware even landed in a kind of \”Top-5 losers\”, shedding $8 billion in estimated value over this period.

“The fall in Bitmain’s valuation is largely a consequence of the lackluster dynamics of competitor Canaan following its IPO,” said Rupert Hugerverf, Hurun’s chief analyst.

In August 2018 the company was valued at $18 billion and was planning a record initial public offering, but amid falling demand for miners and the bear market in cryptocurrencies, the valuation was cut by 4.5x to the current $4 billion. The same fate befell Bitmain’s competitors, Canaan and Ebang, which exited the index after going public.

Ant Group topped the Hurun Global Unicorn Index 2020 with a valuation of $150 billion. The fintech arm of Alibaba plans an IPO with a valuation of $200 billion. It includes the Alipay payment system and blockchain projects under the AntChain brand.

As ForkLog noted in one of its investor bulletins, several companies announced plans to pursue IPOs.

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