$383B worth of crypto projects based in Switzerland and Liechtenstein: Report
The largest of them all, the Ethereum Foundation, is headquartered in Zug, Switzerland.
The value of crypto projects based in Switzerland and Liechtenstein has increased by 107% year-over-year to $382.93 billion.
According to a Jan. 16 report by Swiss venture capital firm Crypto Valley (CV VC), Ethereum, through the Ethereum Foundation, is currently the highest-valued project based in the two countries, with a market cap of $273 billion. This is followed by Solana at $43.3 billion and Cardano at $20.8 billion. The increase in valuation is mainly due to momentum from the overall crypto market recovery.
Despite a market rebound for tokens, the global Web3 venture capital landscape has yet to recover. Researchers at CV VC have tallied 1,031 deals amounting to $9.8 billion in VC funding for firms in the category, representing 55% and 69% declines for the same metrics in 2022, respectively. Crypto firms in Switzerland and Liechtenstein raised $283.5 million across 49 deals in 2023, compared to $964.3 million through 93 deals in 2022.
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