Coin Metrics recognized for achievements in crypto analytics
NEW YORK, December 16, 2020 — CB Insights today named Coin Metrics to its inaugural Blockchain 50 ranking, a list of the top private companies applying or analyzing blockchain technology to solve business or consumer problems across various industries.
Developed in partnership with Blockdata, a blockchain intelligence and data company that was acquired by CB Insights, the 2020 Blockchain 50 cohort includes companies from all around the globe across varying investment stages of development, from early-stage startups to well-funded unicorns. Combined, these companies have raised over $3B across 113 deals since 2017.
“Blockchain moved from possible to practical in 2020 as evidenced by the enterprise adoption we tracked. At the same time, the blockchain company ecosystem also became more crowded, creating noise and uncertainty for enterprises as they evaluate vendors and partners. The Blockchain 50, which we’ve created in conjunction with Blockdata, was born out of a desire to reduce that uncertainty and recognize the pioneering companies using the blockchain,” said CB Insights CEO Anand Sanwal. “This inaugural class of the Blockchain 50 is tackling a range of use cases across trade finance, capital markets, exchanges and more and are being used by banks, governments and major retailers. We’re excited to see the impact the Blockchain 50 will have on industries as their solutions are deployed and to see the continued evolution of blockchain technology as it matures.”
“We are honored to be included in this inaugural list alongside many other crypto greats. As a cryptoasset data and intelligence provider, we offer institutions a critical component of the market infrastructure required for the maturity of this space. We are excited to see the rapid development of this ecosystem supported by these innovative companies.” said Coin Metrics CEO Tim Rice.
Through an evidence-based approach, the CB Insights research team, in collaboration with Blockdata, selected the Blockchain 50 from thousands of applications and nominees, based on factors including patent activity, business relations, investor profiles, news sentiment analysis, proprietary Mosaic scores, market potential, competitive landscape, team strength, and tech novelty.
The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum.
2020 was a critical year for Coin Metrics. After raising their Series A at the end of 2019, they built up their team with leaders from Refinitiv and Fidelity, as well as notables from the crypto space. They introduced several new products this year, including a suite of indexes, a universal blockchain explorer and a network risk management offering, all while expanding their network and market data products.
Quick facts on the 2020 Blockchain 50:
- The 2020 Blockchain 50 companies have raised over $3B in aggregate equity funding across 110+ deals since 2017.
- The list includes five unicorns (companies valued at or above $1B) — Bitmain, Bitfury, Coinbase, Chainalysis, and Digital Currency Group.
- While the majority of the companies are based in North America, 40% of the 2020 Blockchain 50 winners are based outside the United States, in countries such as the United Kingdom and Switzerland.
- Blockchain Capital, Castle Island Ventures, Kinetic Capital, Pantera Capital, and Valar Ventures are the most active venture investors in the Blockchain 50, with 5 investments each since 2017.
- Since 2017, corporate venture capital firms Digital Currency Group, Galaxy Digital, and ConsenSys Ventures have struck 13, 12, and 7 deals with the cohort, respectively.
The Blockchain 50 Companies (in alphabetical order):
|Bison Trails||CipherTrace||Digital |
|Bitcoin Suisse||Clearmatics||dltledgers||Paxos||Tokeny Solutions|
About CB Insights
At CB Insights, we believe the most complex strategic business questions are best answered with facts. We are a machine intelligence company that synthesizes, analyzes and visualizes millions of documents to give our clients fast, fact-based insights. Serving the majority of the Fortune 100, we give companies the power to make better decisions, take control of their own future, and capitalize on change.
Hyeri Kim – PR & Communications
About Coin Metrics
Coin Metrics was founded in 2017 as an open-source project to determine the economic significance of public blockchains. Today, we expand on that original purpose to empower people and institutions to make informed crypto financial decisions. We aim to onboard the world’s premier financial institutions into crypto with the most trusted network and market data and insights. https://coinmetrics.io/