The Ethereum ecosystem is home to a diverse group of companies building on its blockchain. Cryptocurrency exchange Kraken leads the pack with a $20B valuation.
Beyond exchanges, the space includes key infrastructure and scaling projects. For example, Blockdaemon provides blockchain deployment services and is valued at $3.25B.
Below is the full list of 11 Ethereum unicorn startups at this time.
Top 10 Most Valuable Ethereum Unicorns
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2,189 Accelerators & Incubators
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1,600+ Unicorns
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250 BioTech & Health Investors
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250 AI Investors
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250 Fintech Investors
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Get the Sheet for $50Kraken runs one of the world's largest cryptocurrency exchanges, allowing users to trade a wide range of digital assets. They are also known for offering services beyond trading, such as staking to earn rewards and access to parachain auctions.
| Valuation | $20B (Joined June 2019) |
| Headquarters | San Francisco, California, United States |
| Year Founded | 2011 |
| Founders | Jesse Powell, Michael Gronager, Thanh Luu |
| Funding Amount | $1.3B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Venture Round |
| Top Investors | Citadel, Tribe Capital, HOF Capital, Apollo, HSG |
Yuga Labs builds digital worlds and experiences using blockchain technology. They are best known for creating and acquiring some of the most valuable NFT collections, such as Bored Ape Yacht Club and CryptoPunks.
| Valuation | $4B (Joined March 2022) |
| Headquarters | Coral Gables, Florida, United States |
| Year Founded | 2021 |
| Founders | Greg Solano, Wylie Aronow |
| Funding Amount | $450M |
| Company Size | Mid-Size Team (51-250) |
| Last Funding Status | Seed |
| Top Investors | Lightspeed Venture Partners, Coinbase, MoonPay, Samsung NEXT, Bond |
Blockdaemon builds institutional-grade blockchain infrastructure, managing nodes and payment rails for businesses. Their platform is recognized for supporting over 60 distinct blockchain networks, including major protocols like Ethereum and Bitcoin.
| Valuation | $3.25B (Joined September 2021) |
| Headquarters | Los Angeles, California, United States |
| Year Founded | 2017 |
| Founders | Konstantin Richter |
| Funding Amount | $431.3M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Venture Round |
| Top Investors | Borderless Capital, Sapphire Ventures, Plug and Play, Goldman Sachs, Kraken |
Polygon builds a platform for scaling Ethereum and developing its core infrastructure. Their technology enables developers to create decentralized applications with faster transaction speeds and significantly lower fees.
| Valuation | $2B |
| Headquarters | Bengaluru, Karnataka, India |
| Year Founded | 2017 |
| Founders | Antoni Martin, Anurag Arjun, Bobbin Threadbare, Brendan Farmer, Daniel Lubarov, David Schwartz, Jaynti Kanani, Jordi Baylina, Mihailo Bjelic, Sandeep Nailwal |
| Funding Amount | $451.5M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Venture Round |
| Top Investors | Accel, Peak XV Partners, Elevation Capital, Union Square Ventures, Tiger Global Management |
Optimism builds a low-cost, lightning-fast Layer 2 blockchain used by developers to scale applications on Ethereum. They are known for their platform's equivalence with Ethereum and for a governance system that directs revenue toward funding public goods.
| Valuation | $2B (Joined March 2022) |
| Headquarters | New York, New York, United States |
| Year Founded | 2019 |
| Founders | Jinglan Wang, Karl Floersch, Kevin Ho |
| Funding Amount | $178.5M |
| Company Size | Lean Team (11-50) |
| Last Funding Status | Undisclosed |
| Top Investors | BlockBase Ventures, IDEO CoLab Ventures, Nascent, Andreessen Horowitz, Paradigm |
Berachain builds a high-performance, Ethereum-compatible blockchain designed for financial applications. The platform introduces a novel Proof-of-Liquidity consensus mechanism to better align incentives within its decentralized ecosystem.
| Valuation | $2B |
| Headquarters | George Town, Midland, Cayman Islands |
| Year Founded | 2021 |
| Founders | Dev Bear, Man Bera, Smokey The Bera |
| Funding Amount | $142.3M |
| Company Size | Mid-Size Team (51-250) |
| Last Funding Status | Undisclosed |
| Top Investors | Framework Ventures, Samsung NEXT, Amber Group, Tribe Capital, Hack VC |
Boba Network provides an Ethereum Layer-2 scaling solution that reduces gas fees and improves transaction speeds for decentralized applications. Their platform uses Optimistic Rollup technology and is governed as a Decentralized Autonomous Organization (DAO).
| Valuation | $2B |
| Headquarters | Palo Alto, California, United States |
| Year Founded | 2018 |
| Founders | Alan Chiu |
| Funding Amount | $115M |
| Company Size | Lean Team (11-50) |
| Last Funding Status | Private Equity |
| Top Investors | TheVentureCity, Hack VC, M13, BitMart, HTX |
Monad is building a high-performance blockchain that is fully compatible with Ethereum. Their protocol uses parallel execution to dramatically boost transaction speeds and overall network capacity.
| Valuation | $1B |
| Headquarters | New York, New York, United States |
| Year Founded | 2022 |
| Founders | Eunice Giarta, James Hunsaker, Keone Hon |
| Funding Amount | $244M |
| Company Size | Lean Team (11-50) |
| Last Funding Status | Venture Round |
| Top Investors | Electric Capital, Paradigm, Coinbase Ventures, Amber Group, Dragonfly |
Dune Analytics builds a community-powered platform for querying blockchain data with SQL. Their tools allow anyone to create and share custom dashboards, making complex on-chain crypto data from networks like Ethereum easy to visualize and understand.
| Valuation | $1B (Joined February 2022) |
| Headquarters | Oslo, Oslo, Norway |
| Year Founded | 2018 |
| Founders | Fredrik Haga, Mats Olsen |
| Funding Amount | $79.4M |
| Company Size | Lean Team (11-50) |
| Last Funding Status | Series B |
| Top Investors | Redpoint, Coinbase Ventures, Coatue, Dragonfly, Union Square Ventures |
Flashbots operates as a research and development organization focused on the complex world of Maximal Extractable Value (MEV) within the Ethereum ecosystem. They create open-source software and tools to enable more transparent and efficient MEV extraction, aiming to reduce its negative impacts on the network.
| Valuation | $1B (Joined July 2023) |
| Headquarters | Grand Cayman, Midland, Cayman Islands |
| Year Founded | 2020 |
| Founders | Stephane Gosselin |
| Funding Amount | $60M |
| Company Size | Lean Team (11-50) |
| Last Funding Status | Series B |
| Top Investors | Inflection, Paradigm |
The Remaining Ethereum Unicorn
The ten most valuable companies get a lot of attention, but they aren't the only ones building big things on Ethereum. Other founders are also hitting that billion-dollar milestone. The United States continues to be a major hub for this growth. Here's a look at the other unicorn shaping the Ethereum space in 2026.