Since the emergence of blockchain technology a few years ago, several companies have adopted the innovation. In this article, we will look at some of the leading companies in the blockchain industry you should keep a close eye on.
Top 8 Crypto Firms to Monitor in 2024
While picking the top cryptocurrency companies, we examined their financial data and notable actions they have undertaken so far. Here are the leading blockchain companies:
Coinbase
This well-known crypto exchange allows retail customers to trade cryptocurrencies and invest in its Earn product. Moreover, Coinbase runs an investment arm that financially supports crypto startups in building projects. It also allows merchants to accept crypto as a payment method.
It is worth mentioning that Coinbase is the only publicly traded exchange. The firm’s stock is listed on NASDAQ as COIN.
So, how much revenue does Coinbase record per quarter? The exchange averaged $660 billion in quarterly revenue last year.
Chainalysis
This crypto company helps governments, banks, and businesses track and carry out investigations into activities happening on the blockchain. Over the years, criminals have used digital currencies to transfer funds undetected. They use crypto mixers to launder illegal money.
To make sure that crypto assets are used for the right purposes, institutions need to monitor blockchain activity to identify bad actors. And that’s where Chainalysis comes in. The company provides software for detecting illegal blockchain activity.
Investor interest in Chainalysis has grown in recent years. In 2022 alone, the company managed to raise $536 million from 10 funding rounds.
Gemini
The famous Winklevoss brothers founded Gemini, a highly regulated cryptocurrency exchange that caters to both institutional and individual investors. Being a regulatory-compliant trading platform, Gemini is trusted by many crypto enthusiasts. The exchange also prioritizes the safety of user funds as it adopts sophisticated security measures.
Galaxy Digital
This New York-based investment company offers a wide range of crypto-related services, including asset management, mining, and trading. Crypto guru Mike Novogratz is the brains behind Galaxy Digital. He says his main goal is to bridge the gap between traditional institutional investors and the crypto ecosystem. Galaxy Digital trades under the GLXY ticker on the TSX Venture Exchange.
In the third quarter of 2023, the investment company reported that its equity capital had risen to $1.6 billion. However, it posted a $94 million loss. The value of assets under management hit $3.8 billion.
OpenSea
Since launching in 2017, OpenSea has grown to be a leading NFT marketplace. On the platform, you can find a wide range of unique digital assets. Initially, OpenSea only supported NFTs built on Ethereum but has now become a multi-chain marketplace, allowing users to list NFTs from various blockchains.
So, how does OpenSea collect revenue? The platform charges transaction fees on every NFT sale. Moreover, it imposes a listing fee on creators who want to showcase their digital art pieces.
Consensys
This software company continues to play a key role in the development of the Ethereum ecosystem. It has built several tools that Ethereum users find helpful. They include the popular crypto wallet MetaMask, Diligence, and Infura. The firm also provides a service called Consensys Staking, which allows investors to stake crypto assets in return for yield.
Crypto.Com
With over 50 million users across 95 countries, Crypto.com is undoubtedly one of the leading exchanges. The Singapore-based company offers unique services to customers, giving it an edge over its competitors. For example, Crypto.com has partnered with Visa to provide users with debit cards that they can use to pay for goods/services with their digital currencies.
Binance
Despite numerous regulatory challenges, Binance is still the leading cryptocurrency exchange, with more than 150 million users. It offers several services, including Binance Earn, LaunchPad, P2P trading, and crypto payments.
Conclusion
With the bear market seemingly cooling down, small crypto companies may soon have the capacity to compete with the abovementioned firms. So, it is likely that we will have a new list of leading blockchain companies in 2025.
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