Bitcoin has been doing good this year, but it is far from it’s 2017’s high price of $20,000. In 2017, the currency has experienced extremely good bullish momentum and many startups also started then. Bitcoin price journeyed from $1,000 to around $20,000. But, unfortunately, the price dropped immensely the previous year. However, the currency is gaining it’s a bullish movement back.
Now, again the news has come and it is about one of the most famous exchange firms in the cryptocurrency ‘Coinbase’ and Ripple, a blockchain remittance group behind the cryptocurrency XRP. These two lost their positions from the U.S. startups list for 2019 and their ranking decreased around 20 places. Coinbase was positioned on third place and Ripple was on seventh, but now both the firms have slipped to 29th and 28th positions respectively.
The rankings are put into accounting by the popular professional social network, LinkedIn and it analyzes the firms on the basis of their popularity utilizing growth of employee, engagements of the members and interests of job seekers. On the other hand, Winklevoss twins’ Gemini cryptocurrency exchange and ConsenSys ethereum development company has totally vanished from the list. They were ranking on 25th and 26th positions the previous years.
Coinbase and Ripple have been a lot of tough struggle in the market and they have been through competition, regulation, and for the adoption of cryptocurrency. The previous month, Coinbase has ended partnership with the Barclays bank, which is based in London, the partnership was for extending its roots in Europe and it was started in last year March.
Also, the value of Ripple cryptocurrency XRP has decreased by 25% in this year and Bitcoin’s value is increased by 200%.
There is the dominance of Bitcoin in the crypto market and as per the data of CoinMarketCap bitcoin has weighted around 70%, which is it’s largest in 18 months. Ripple has been through a lot of struggle and didn’t meet the expectations. Some of the major financial institutions also tied up with the company for its services.
The first position on the LinkedIn Top 10 U.S. startup is secured by Snowflake Computing, which is a cloud-based data-warehousing startup and Robinhood, which is a crypto-friendly investment app is secured the 7th position. This is also the last chance of the Coinbase and Ripple for eligibility of the list because it excludes the firms which are older than seven years and both companies are started in 2012.
Another necessary requirement of the list that the firms have around 50 employees, they are based in the U.S. and also they should be held privately.