Why are valuable startups called unicorns? What about crypto-currencies?steemCreated with Sketch.

in crypto •  last year

A though entered my mind today, why unicorn? Why are all these famous startups called unicorns?

Here are some facts...

  • A startup valued over $1 billion is called a unicorn
  • The term was coined in 2013 by Venture capitalist Aileen Lee
  • The mythical animal unicorn was chosen to represent the statistical rarity of these companies

What about crypto-currencies? We have currencies that have grown to that level and just as in any financially driven market or industry, the fundamentals remain the same and we do have unicorns in the crypto-currency world

  • Since all have market caps of over $1 billion, Bitcoin, Ethereum, Ripple, NEM, Ethereum Classic, Litecoin, Dash and IOTA have grown to unicorn level.
Crypto-currencyMarket CapLaunched Around
Bitcoin$41 Billion +January 2009
Ethereum$26 Billion +30 July 2015
RippleAlmost $10 Billion2012
Litecoin$2 Billion +7 October 2011
Ethereum Classic$1.7 Billion +30 July 2015
NEM$1.4 Billion +2015
Dash$1.3 Billion +18 January 2014
IOTA$1.1 Billion +2015

References
Read the wiki on Startup Unicorns to know more...
Market cap data taken from https://coinmarketcap.com


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