Ripple is the Second Most Valuable Company in the Cryptocurrency Industry
- Ripple’s latest funding puts its valuation at $10 billion
- It has become the 18th most valuable start-up in the world
- Combining quarterly XRP sale and venture capital funding, Ripple has raised more than $1.5 billion since 2012
- Recently, US-based blockchain startup Ripple raised a $200 million investment that put its valuation to $10 billion.
On this development, Ripple CEO Brad Garlinghouse said in a statement,
“We are in a strong financial position to execute against our vision. As others in the blockchain space have slowed their growth or even shut down, we have accelerated our momentum and industry leadership throughout 2019.”
Founded in 2012, Ripple uses XRP to facilitate cross-border transactions for its network of banks and financial institutions.
Recently, Garlinghouse made a bold prediction that half of the top 20 banks will be actively holding trading digital assets in 2020.
YES!!! Out of the list, nearly half of the banks are current Ripple’s partners https://t.co/sXPz203kCN
— Steven Bull From the Diep (@DiepSanh) December 22, 2019
Industry’s Second Decacorn
The latest Series C funding was led by New York investment company Tetragon, with participation from Japan’s SBI Holdings and Virginia-based venture capital firm Route 66 Ventures.
The company believes this investment will accelerate its ability to onboard new global talent and boost the adoption of digital asset XRP and XRP Ledger.
These investment values Ripple at $10 billion, which makes it the second most valuable company in the crypto industry behind Bitcoin mining giant Bitmain.
“At $10 billion Ripple is the industry's second decacorn behind Bitmain, which due to the bear market is likely worth far less than the $12 billion it was valued at in 2018. Ripple is now tied for the 18th most valuable start-up in the world,” states Messari.
According to Messari, Ripple has now raised a cumulative $292 million, including this new funding, in venture capital since its inception.
However, when combining quarterly XRP sale, that Ripple books as revenue, and venture capital funding, Ripple has now raised more than $1.5 billion in the past 7 years.
Moreover, Ripple has sold over $1.2 million worth of XRP since Q4 2016.
As per Viewbase, XRP’s inflation rate is 27.70%, which economist and trader Alex Kruger said, “No wonder these tokens are the worst performers of 2019.”
The third-largest digital asset by market cap of $8.46 billion is currently worth only 19 cents. Down 45% year-to-date, in the last 24 hours, it registered some greens after falling to $0.177 last week, a value last seen in November 2017.