The market for crypto-focused investing is growing rapidly. News that Paradigm put together a $2.5 billion fund the other day is a reminder of the scale of funds now available to startups looking to build on the blockchain. Andreessen Horowitz has a mega-fund in the market as well, while Coinbase Ventures is setting a blistering pace for a corporate venture firm.
The result of the run-up in capital availability has led to, as in many other venture markets, larger and more rapid-fire rounds — and more unicorns.
While the now-dated unicorn valuation threshold of $1 billion is losing some of its salience in a market where there are hundreds of unicorns globally, inside a single niche the metric can still prove useful. The crypto market is one such place.
The Block, a crypto-focused publication and research operation, has a new data collection out this morning that highlights just how rapidly the unicorn cohort is expanding in the crypto space. The data set also details where unicorns are being forme …