Top 3 Biggest Crypto Companies In 2022
This is an insight into the top 3 biggest crypto companies that provide a variety of digital assets, technologies, and consulting services to the blockchain and cryptocurrency markets.
Recently, institutional investors have shown a growing interest in cryptocurrency as inflation has risen and coins have proved popular as safe havens and wealth storage devices in an increasingly volatile environment. These companies discussed below are proving blockchain technology as beneficial for the future.
1. Coinbase Global, Inc. (NASDAQ:COIN)
Coinbase Global, Inc. (NASDAQ:COIN), one of the largest and most popular crypto exchanges in the world, is a platform that provides a variety of services for the crypto economy. Present in over 100 countries, the company has over 89 million verified users, 11,000 institutions, and 185,000 ecosystem partners. Being one of the first players in the crypto space gives the company a competitive edge. It launched on the market in April 2021 and got a value of over $85 billion in one of the biggest IPOs of the year.
The company has beaten the market on earnings per share in three of the last four quarters. These beats are within the margins of 152%, 7%, and close to 50%. Upcoming earnings of the firm is scheduled for mid-May. Even in the face of stellar earnings, the share price has continued to decline amid a lull around growth opportunities in light of rising inflation and interest rates. Hedge funds have also invested in the firm and ARK Investment Management own a stake in the firm worth $1.3 billion.
2. Twitter, Inc. (NYSE:TWTR)
Twitter, Inc. (NYSE:TWTR) is the second most-popular social media platform across the world that controls over 7% of the market share in the crypto space. It is a microblogging and social networking platform. Twitter was acquired recently by the billionaire Elon Musk in a deal worth $44 billion. The firm has some competitive advantages over its competitors, including real-time news feeds, a more diverse audience, and relative freedom from advertisements. The company has over 200 million active users daily.
Twitter has a separate unit for business called Twitter Crypto that is devoted to developing the crypto part of the network. Twitter also has played a part in the development of blockchain technology that serve the decentralized social network. Last year, the company launched a feature that allows users to tip other users on the platform via Bitcoin payments made through a platform called the Lightning platform. There is also a large presence of retail investors bullish on the crypto industry on the Twitter platform.
3. International Business Machines Corporation (NYSE:IBM)
International Business Machines Corporation (NYSE:IBM) is a company that provides solutions and services that are related to information and technology. The company has invested enormously in new technologies such as cloud computing, artificial intelligence, and blockchain in the past few years. It controls almost 14% of the market share in the AI software space. The competitive edge that the firm has over it’s peers in the marketplace is its large revenue stream from an established business that helps fund its growth initiative.
IBM offers enterprise blockchain solutions and services. The company is an official partner of both Stellar, a blockchain with close resemblance to Ripple, and Stronghold, a start-up, on USD Anchor, a stablecoin backed by banks. A few of the services that the company offers in the crypto space include supply chain solutions, identity management, and digital assets management. Hedge funds are bullish on IBM too. Arrowstreet Capital is also a leading shareholder in the firm with a stake of $440 million.
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