Business & Economy Startups Despite crypto winter, number of Swiss, Liechtenstein crypto companies continues to rise

Despite crypto winter, number of Swiss, Liechtenstein crypto companies continues to rise

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During the crypto winter, the number of blockchain companies in Switzerland and Liechtenstein grew by 20 per cent

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The 2018 severe crypto market reversal –which is also known as the “crypto winter”– has affected the valuation of leading blockchain companies Switzerland and Liechtenstein, but it has failed to negatively affect the growing number of blockchain companies in these two hubs.

Investment company CV VC, in collaboration with PwC Strategy and inacta, has published its quarterly list of the 50 largest and most important companies in the two markets’ Crypto Valley Blockchain cluster.

The list revealed that market capitalisation of the top 50 companies have dropped from US$44 billion to US$20 billion in Q4 2018 or a 55 per cent decrease.

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Globally, most crypto companies also lost their value during the period, and the top 50 companies in the list account for nearly 20 per cent of this market.

Interestingly, it is also revealed that at the end of December 2018, the cluster contained 750 blockchain companies.

Also Read: Stop blaming the blockchain, crypto and ICO community, but rather join and help them

This corresponds to a growth of 121 companies, or almost 20 per cent compared to the last count at the end of September 2018.

On average, the top 50 companies are valued at US$400 million each. Excluding the five largest, the average figure is still US$365 million, which the list interpreted as a sign that concentration is relatively low.

The average valuation of all 750 companies was estimated at US$27 million.

Switzerland has been perceived as one of the leading crypto hubs in the world, thanks to its open-minded bank industry and favourable regulation.

As for Liechtenstein, its rise as a crypto hub is attributed to its location and financial inclusivity.

Also Read: What is an ICO, STO and TSO?

Four unicorns that are present in the Crypto Valley are Ethereum, Bitmain, Dfinity and Cardano.

Around 480 people work in Switzerland and Liechtenstein in the 50 largest blockchain companies.

Image Credit: Tom Parkes on Unsplash

 

 

The post Despite crypto winter, number of Swiss, Liechtenstein crypto companies continues to rise appeared first on e27.

Source: E27

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