Research firm Hurun published a list of global unicorns, or companies worth more than a billion dollars, in 2020. This ranking features all billion-dollar tech startups founded in the 21st century that are not listed yet listed on public exchanges.

The report, named “Hurun Global Unicorn Index 2020,” shows that there are a total of 586 unicorns globally — up from 494 companies listed in the 2019 ranking.

The blockchain industry represents 2% of the list. Ripple takes the top spot as the company with the highest valuation in the sector. It ranks at #23, which is up from last year’s index, where it held the 28th position on the list.

The most significant change was made by Binance, which rose thirty places on the list, ultimately ending up at #108.

Bitmain as the biggest loser in terms of valuation

Bitmain, plummeted significantly in terms of valuation. Last year the company posted a $12 billion valuation, but this has since fallen to $4 billion. According to Hurun, one reason behind Bitmain's drop is the “mediocre post-IPO performance of its rival, Canaan.”

Crypto exchange Coinbase remains at a valuation of $8 billion, though it fell one place in Hurun’s ranking to #31.

Ripple has the highest valuation in the blockchain sector with a $10 billion valuation. This represents a $5 billion rise in comparison with the company’s 2019 ranking.

The Blockchain Research Institute, headed by China’s Center for Information and Industry Development, or CCID, released its 17th Global Public Chain Technology Evaluation Index on April 10.

According to the latest index, EOS ranks as the best performing blockchain project, while the most widely used blockchain, Bitcoin, has slipped down three places and now ranks 14th on the list.