For almost 3 weeks now, the value of bitcoin has been almost stagnant, the peak happened yesterday when it went just above $3600. However, prices went down a bit today Monday, but that didn’t stop crypto businesses from getting recognised. 5 cryptocurrency related companies just made it into the Forbes top-50 fintech 2018 list which was revealed today.
In 2017, there were 11 cryptocurrency startups on the list. This year however, only 5 cryptocurrency startups made the list. The reason is not far-fetched as cryptocurrencies devalued for the most part of 2018.
Cryptocurrency startup like Ripple has made the list for five years in a row. Ripple is a real-time gross settlement system (RTGS), currency exchange and remittance network. Using a common ledger that is managed by a network of independently validating servers that constantly compare transaction records.
BitFury, however, has made the list twice now and also considered as one of the largest mining companies. Bitfury is the leading full service Blockchain technology company and one of the largest private infrastructure providers in the blockchain ecosystem.
Bitfury develops and delivers both the software and the hardware solutions necessary for businesses, governments, organizations and individuals to securely move an asset across the blockchain. It’s joined by Coinbase.
With new startups like Axoni, Gemini and Circle entering the list in 2018. These new startups launched their stablecoins last year and were able to raise over $32 million investment by second quarter. It’s even surprising six crypto businesses made the list, despite last year’s major crypto price depreciation.