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19 April 2021

New milestone reached as 100 cryptocurrencies reach a $1B market cap

New milestone reached as 100 cryptocurrencies reach a $1B market cap

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As things currently stand, there are 100 projects that have reached a $1 billion market capitalization.

Unicorns are typically privately held startup companies valued at more than $1 billion, but traditional finance is increasingly applying the term to high-value cryptocurrencies that institutions are only now gaining exposure to.

On that thread, here’s an update on some of the top crypto unicorn projects, as well as an introduction to some of the newest arrivals to the billion dollar club.

Enjin Coin (ENJ) has been one of the biggest beneficiaries of the rise of NFTs which helped rocket the price of ENJ to an all-time high of $3.08 on March 15 and firmly elevated the project to Unicorn status with a $2.6 billion market cap.

One protocol that operates on the Binance Chain and the Ethereum network is THORChain (RUNE), whose 700% price growth since January 1 has lifted the project’s total market cap to $1.95 billion.

One protocol with a stablecoin component that has made great strides in helping establish a stable store of wealth in countries experiencing hyperinflation like Venezuela is Reserve, whose Reserve Rights (RSR) token has increased by more than 400% in 2021.

This is helped create a global network of more than 25,000 hotspots and a total market cap of $1.12 billion for the HNT.

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