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Crypto Values Soar 107% for Projects out of Switzerland

Swiss cryptocurrency projects are extremely valuable and are becoming even more so, according to a new report.

European Countries with a Lot of Promise for Crypto

Where can investors find rapid growth in cryptocurrency projects? They should be looking at Switzerland and Liechtenstein, say the Crypto Valley venture capital firm, which is headquartered in Switzerland. A report issued earlier this month placed these two countries as the highest value locations for cryptocurrency projects, with a combined total of $273 billion USD.

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The report states that from the previous year, crypto projects coming out of these European countries have seen a value increase of 107%. That is more than the combined value of major crypto currencies Cardano and Solana, which are valued at $20.8 and 43.3 billion respectively.

How many crypto projects are coming out of these countries? Our sources indicate that about 5% of all currently active cryptocurrency and Web3 projects originate there. These projects are coming out of nearly 1,300 Web3 companies in those countries. The naysayers who predict that crypto will soon implode are not looking at economically rich areas like these where cryptocurrency is very much alive and very much a part of the future plans of many tech firms.

Crypto Momentum Picks Up

The crypto marketplace is trading at a level much lower than it was this time last year. Venture capital deals from Web3 exchanges are down about 60% compared to 2022. Liechtenstein saw $283.5 million in Web3 venture capital deals last year, which is about a third of what those deals were valued at the previous year. However, the value of crypto firms and projects for Switzerland and Liechtenstein are up substantially right now, especially compared to last year’s valuations.

Market analysts attribute that to a motive market that is recovering fast. The overall DeFi market made a strong recovery last year, partly on the expectation that more countries will accept cryptocurrency tokens in the coming months. A recent decision by the US Securities and Exchange Commission to approve tracking some ETFs (exchange-traded funds) backs that up.

In Switzerland, cryptocurrency is more widely accepted than in many other major countries. Some crypto instruments can even be used to pay some government taxes and fees. This is a country that sees a future in crypto and expects its citizens will adopt decentralized finance even more in the coming years.

 

 

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ABOUT THE AUTHOR See More
Timothy St. John
Timothy St. John
Financial Writer - European & US Desks
Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.
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