The global market capitalization of pubic-related cryptocurrency has quadrupled since the beginning of this year- from valuing at $25 billion in the month of January to about $100 billion at present.
CoinShares, a crypto strategic investment company, stated that in January the pure-play public crypto asset companies were worth $25 billion. Financial service providers and mining companies contributed nearly all the value. This year, 16 crypto asset companies became public, increasing the total number of digital asset companies to 57. The aggregate value of all these companies rose to around $100 billion. Also, the aggregate market price of the digital asset companies that trade publicly has doubled this year.
The Large Cap Pure Play of Coinbase
The report from CoinShares crowned the American-based centralized exchange Coinbase as the first large capitalized pure-play company of the cryptocurrency industry. Following Coinbase’s initial public offering (IPO) in April, the total value of public crypto startups rose to a staggering $120 billion.
At the beginning of 2020, the total market valuation of the public crypto sector was less than $3 billion. The new crypto companies that went public in 2021 add to $59 billion in value, which is 62% of the industry’s total aggregate. Out of this, 20 mining companies account for $10 billion and 19 financial services organizations account for $20 billion.
This year also saw a rise in the liquidity of public digital stocks. Most shares reflected less than $500,000 in daily value till the end of the year 2020.