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Morning Report: There Are 54 Cryptocurrencies Worth More Than $10M

Morning Report: Remember bitcoin? It’s trading near record highs, and its ilk are chugging along even after the media spotlight has at least partially moved on.

If you head over to the bitcoin subreddit for a jaunt, I understand if you leave confused. The headlines can be a bit hard to parse.

For fun, here are the top five posts over there, as of the time of writing:

  • Wladimir van der Laan (Bitcoin Core Lead Maintainer): “Bitcoin Core tests: performance in VM” [link]
  • UASF nodes are more than Bitcoin Unlimited [link]
  • Bitfinex Removed from BitcoinAverage Calculations | BitcoinAverage [link]
  • ViaBTC FUD: Segwit makes scaling harder, LN is bad, Core dev team is bad. [link]
  • ASICBOOST isn’t an efficiency gain [link]


But if you place aside the internal politics of the bitcoin world — a place where investors have poured millions and millions of dollars over the years — there is enough good news to keep our cynicism at bay, at least for now.

To wit, bitcoin is trading at over $1,200 per coin, comfortably above its late 2013 peak. That prior high followed a dramatic run in the price of bitcoin over a very short period of time, which drove media attention and consumer mindshare.

But past bitcoin, there is more potentially good news in the cryptocurrency market. According to CoinMarketCap, there are three cryptocurrencies worth over $1 billion in aggregate, nine worth more than $100 million, and 54 worth more than $10 million. Going down further, there are 153 cryptocurrencies with a market cap of over $1 million.

I highlight all of this as it is nearly time to take another look at the bitcoin ecosystem. It hasn’t lived up to its previous short-term hype, but bitcoin chugs along all the same.

From the Crunchbase Daily:

PetSmart buys online pet retailer Chewy

  • PetSmart is buying online pet supply retailer Chewy in what is reportedly one of the largest e-commerce acquisitions ever. PetSmart did not disclose terms, but Recode reported the purchase price as $3.5 billion. After the purchase, Dania, Florida-based Chewy will continue to be led by its current CEO, Ryan Cohen, and will operate largely as an independent subsidiary.

Oracle acquires Moat

  • In other acquisition news, Oracle announced that it is buying Moat, a provider of marketing data and analytics. New York-based Moat, founded in 2010, previously raised about $68 million in venture funding.

Female founder numbers stay flat

  • The percentage of startups that have at least one female founder was flat in the first quarter of 2017, according to a Crunchbase analysis. Overall, just 17 percent of startups had a female founder in Q1, a level that hasn’t changed much over the past five years. In other news from Crunchbase, we look at why Cloudera plans to go public at a lower valuation than its last private funding round.

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

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