Crypto Valley surpassed the $593 billion valuation mark, showcasing the significant growth trajectory of the European blockchain industry during 2024.
The Switzerland-based blockchain ecosystem, which includes 50 blockchain projects, recorded a more than 55% increase in cumulative valuation during 2024.
Among the 50 blockchain platforms, 17 have reached unicorn status, meaning they exceeded a valuation of $1 billion. Of these, 14 exceeded the $1 billion mark in token market capitalization, while the other three did so through private valuation, according to a report shared with Cointelegraph.
Crypto Valley Unicorns. Source: CvVc.com
Crypto Valley’s significant growth highlights Switzerland’s capacity to usher in the next phase of blockchain innovation, according to Mathias Ruch, founder and CEO of CV VC.
“A Swiss industry where the Top 50 entities share a valuation of $593 billion and whose funding medians exceed global medians reflects vision and resilience. Switzerland must maintain its edge by fostering a collaborative environment that attracts talent, capital, and transformative projects,” Ruch wrote.
Some of Crypto Valley’s most popular projects include the layer-1 (L1) blockchain network Ethereum, the L1 blockchain Cardano and the Casper blockchain, all based in Zug, Switzerland.
Top three Crypto Valley projects. Source: CvVc.com
Focusing on blockchain technology will become even more critical as it converges with other “catalytic technologies” such as artificial intelligence and the Internet of Things (IoT), added Ruch.
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Crypto Valley secures 29% of European blockchain investment in 2024
Crypto Valley is playing an increasingly prominent role in the European blockchain industry, attracting nearly one-third of the region’s funding.
During 2024, Crypto Valley attracted $586 million worth of investment across 56 deals, accounting for 29.1% of all European blockchain funding.
Top 50 projects in Crypto Valley. Source: CvVc.com
Crypto Valley’s 8% investment increase outpaced the global blockchain funding growth rate of 3%.
Median deal size surged by 70% to $5.6 million, exceeding the global median of $4 million. Zug-based companies attracted 42% of the total funding.
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Centralized financial services dominate the investment landscape
Centralized financial services received the lion’s share or 34% of the total funding.
Blockchain networks amassed 29% of the funding in second place, while decentralized finance (DeFi) platforms saw 15% of the total investment, growing from just 7% of the investment share in 2023.
Blockchain categories by funding. Source: CvVc.com
Data management and verification was the fastest-growing segment, as its investment market share surged from 3.5% to 11% in 2024.
Gaming and non-fungible tokens were the least attractive segment for investors, securing just 1% of all investments during the previous year.
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