Swiss and Liechtenstein Crypto Ventures Achieve Remarkable $383 Billion Milestone

Swiss and Liechtenstein-based crypto projects have seen substantial growth, reaching a total value of $383 billion, marking a 107% year-over-year increase, as reported by Swiss venture capital firm Crypto Valley (CV VC). Leading the way is Ethereum, backed by the Ethereum Foundation, with a market cap of $273 billion, followed by Solana at $43.3 billion and Cardano at $20.8 billion. This surge is primarily attributed to the broader recovery in the cryptocurrency market. However, the global Web3 venture capital landscape has not fully rebounded, with CV VC reporting 1,031 deals totaling $9.8 billion in VC funding for Web3 companies in 2023, a notable decrease compared to 2022. In Switzerland and Liechtenstein, crypto firms secured $283.5 million across 49 deals in 2023, compared to $964.3 million from 93 deals in 2022. Despite this decline, these countries continue to play a significant role in the Web3 space, attracting around 5% of global Web3 venture capital funding, with over 1,290 Web3 companies based in the region, including well-known projects like Cosmos, Internet Computer, Near, Polkadot, and Solana, contributing to the growth of their local and global economies.