A new milestone was achieved with 100 cryptocurrencies reaching a market capitalization of $100 million.
According to Cointelegraph, a cryptocurrency media outlet on the 6th, the number of cryptocurrency projects with a market cap of more than $1 billion has doubled over the past two months as cryptocurrency adoption has increased and at the same time the token value has increased.
Cryptocurrencies with a market capitalization of more than $1 billion in the two months from February to March have doubled. In its current state, there are as many as 100 projects with a market capitalization of $1 billion.
‘Unicorn’ generally refers to a privately owned start-up worth more than $1 billion, but given the same trend these days, the same term is increasingly applied to high-value-added cryptocurrencies that are increasingly emerging.
Meanwhile, for institutional investors to enter the cryptocurrency field during 2021, multi-billion dollar companies such as Tesla, Square, and Micro Strategy have converted some of their cash to higher altcoins such as Bitcoin (BTC), which is an important growth across the ecosystem. It became one of the drivers.
In addition, Decentralized Finance (DeFi), Nonvolatile Token (NFT), Oracle, etc. have helped push several projects to the level of unicorns, and stable coin-related protocols are also valuable as they provide a solid foundation for the industry to grow Soared.