The latest annual analysis by the Swiss venture capitalist CV VC highlights the key players in the crypto space, features the Crypto Valley's blockchain service providers, and delves into venture funding activity for the 2023. The report once again describes impressive growth for the Crypto Valley.
This year's CV VC Top 50 report explores venture funding trends throughout the calendar year 2023, drawing comparisons between Crypto Valley and global data. Additionally, it introduces a new methodology that highlights the Top 25 market cap leaders and top 25 company valuation leaders.
Strong growth in the Crypto Valley
The 109-page report offers a comprehensive overview, presenting lists of the Top 50 companies and service providers within the Crypto Valley. It delves into the key highlights and milestones of a decade in the Crypto Valley, providing a retrospective analysis. Additionally, the document includes in-depth examinations of funding trends in the blockchain sector. Expert commentary and industry perspectives offer valuable insights into the dynamics and evolution of this prominent blockchain hub. The key takeaways can be summarised as:
- The Crypto Valley Top 50 experienced a 106% valuation surge, reaching a total of $382.93 billion
- Crypto Valley now counts 1'290 entities, a 13.6% increase from last year, with nearly 40% of them located in Zug
- There are 13 Unicorns, of which 10 are by token market cap, and 3 are by market valuation, a 44% increase from last year
- Crypto Valley's blockchain startups raised $283.5m across 47 deals
- Crypto Valley secured an all-time high of 20.4% of European blockchain deals, up from 17.9% in 2022
Zürich starting to catch up with Zug
The Crypto Valley encompasses both Switzerland and Liechtenstein. What historically started out as an ecosystem based in Zug, gradually spread throughout the rest of the Crypto Valley. CV VC's Top 50 Report indicates significant shifts in the distribution of the 1'290 companies across major hubs. Zug maintained its leading position with 512 companies, but Zürich has experienced a notable increase to 289 companies.
Geneva and Ticino also exhibited increases, now hosting 115 and 61 companies respectively. The increase in Ticino can largely be attributed to Lugano's advances as an upcoming blockchain hub. Other Swiss cantons such as Vaud (57), Schwyz (28) and Lucerne (22) contribute to the diverse landscape of the region. Liechtenstein is home to a total of 66 startups, most of which reside in the capital Vaduz.