Analyst weighs Ripple and Circle’s billion-dollar tag as both companies offer massive discounts

The valuation of cryptocurrency companies has been a factor that has lend them credibility in the eyes of the mainstream financial world. In the latest Hurun Unicorn report, it was noticed that cryptocurrency companies like Ripple and Circle were both included. This addition came despite both the companies offering massive discounts.

Larry Cermak, the Director of Research at The Block had tweeted:

“Hurun Unicorn list has both Circle and Ripple listed as unicorns, which is funny because Circle’s shares are currently offered at a ~80% discount on the private market and Ripple’s at as much as ~90% discount. Neither are currently above a billion on the private market.”

The data also pointed to the fact that Circle’s shares were being offered at around $600 million while Ripple shares were being sold at approximately $400 million. Circle and Ripple were two of several companies from the United States that made the Unicorn cut while China reigned supreme in the number of total billionaires. The list stated:

“CHINA LEADS USA BY 206 TO 203, MAKING UP 83% OF WORLD’S UNICORNS. INDIA AND UK FOLLOW WITH 21 AND 13. ‘BIG 4’ MAKE UP STAGGERING 90%. WORLD’S TOP THREE UNICORNS FROM CHINA: ANT FINANCIAL US$150BN, BYTEDANCE US$75BN AND DIDI CHUXING US$55BN”

Circle was also in the news recently when court filings showed that the cryptocurrency exchange was asked to list Telegram’s upcoming tokens on its platform. Circle’s involvement came to light when a document titled Circle Asset Listing Form listed out the details. The document included an email address, the name of the asset, the name of the project [Telegram Open Network], and the full name of the person filing the form.

Ripple, on the other hand, were creating partnerships with institutions, even joining the much talked about Blockchain Association. This came at a time when the organization onboard four new members to its Global Regulatory office. Ripple’s official blog post said:

“In addition, Craig Phillips, former Counselor to the Secretary at the U.S. Treasury Department, has joined Ripple’s Board of Directors and will provide depth to Ripple’s policy leadership bench. Finally, to help advance trust and innovation in blockchain and digital asset technologies, we are now a member of the Blockchain Association, and Michelle Bond, Ripple’s Global Head of Government Relations, will sit on the board.”

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.