Switzerland’s Crypto Valley hits $593B with 17 unicorns in 2024

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Unicorns in Switzerland: The Crypto Valley That’s Worth More Than Your House! 🦄💰

In the land of chocolate and cheese, where the mountains stand tall and the clocks tick with precision, Crypto Valley has burst forth like a stubborn weed in a well-tended garden, surpassing the staggering valuation of $593 billion. Yes, you read that right—billion with a ‘B’—in the year of our blockchain 2024.

This Swiss wonderland, home to a bustling ecosystem of 50 blockchain projects, has seen its cumulative valuation soar by more than 55%. It’s as if the cows are mooing in approval, and the yodelers are singing praises to the blockchain gods.

Among these 50 projects, 17 have donned the shiny crown of unicorn status, prancing around with valuations exceeding $1 billion. Fourteen of these majestic creatures flaunt their worth in token market capitalization, while the remaining three are basking in the glow of private valuations. Who knew that blockchain could be so glamorous? 💃

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Mathias Ruch, the grand poobah of CV VC, waxes poetic about this growth, declaring, “A Swiss industry where the Top 50 entities share a valuation of $593 billion reflects vision and resilience.” It’s like a Swiss watch, ticking away with precision, but instead of gears, it’s powered by innovation and a sprinkle of yodeling magic.

Among the stars of Crypto Valley are the illustrious Ethereum, the ever-reliable Cardano, and the Casper blockchain, all nestled in the charming town of Zug. It’s like a techy fairy tale, where the blockchain heroes reside in a land of fondue and fresh air.

Ruch further emphasizes the importance of blockchain technology as it dances hand-in-hand with other “catalytic technologies” like artificial intelligence and the Internet of Things. It’s a tech tango that’s bound to leave us all dizzy with excitement.

Crypto Valley secures 29% of European blockchain investment in 2024

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As if that wasn’t enough, Crypto Valley is strutting its stuff on the European stage, attracting nearly one-third of the region’s blockchain funding. In 2024, it lured in a whopping $586 million across 56 deals, accounting for 29.1% of all European blockchain funding. Talk about a money magnet! 💸

With an 8% increase in investment, Crypto Valley is outpacing the global blockchain funding growth rate of a mere 3%. It’s like watching a tortoise race against a hare, and the tortoise is winning by a landslide.

The median deal size has surged by 70% to $5.6 million, leaving the global median of $4 million in the dust. Zug-based companies are raking in 42% of the total funding, proving that sometimes, it pays to be in the right place at the right time.

Centralized financial services dominate the investment landscape

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In the grand scheme of things, centralized financial services have claimed the lion’s share, gobbling up 34% of the total funding. Meanwhile, blockchain networks are basking in second place with 29%, and decentralized finance (DeFi) platforms are finally getting their moment in the sun with 15% of the total investment—up from a measly 7% in 2023. Progress, folks! 🎉

Data management and verification are the rising stars, with their market share skyrocketing from 3.5% to 11% in 2024. Meanwhile, gaming and non-fungible tokens are sitting in the corner, sipping their lukewarm coffee, having secured just 1% of all investments last year. Ouch!

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2025-01-21 15:53