Canton Zug, 31.01.2025

The largest companies in Crypto Valley are worth US$ 593 billion

In its ‘Top 50 Report’ the Zug-based venture capital firm CV VC has analysed the valuation and financing success of the largest Swiss crypto companies.

The companies based in Switzerland's Crypto Valley have increased in value in 2024 – with the top 50 blockchain platforms and companies having a total valuation of US$ 593 billion.
These are the findings of the 10th annual analysis by Zug-based venture capital firm Crypto Valley Venture Capital (CV VC).

With a valuation of US$ 584.33 billion, the 25 blockchain platforms that were included in the analysis contribute heavily towards this, while the 16 platforms that have their headquarters in Zug accounted for as much as 97% of the total valuation.

The 25 blockchain companies in Crypto Valley are worth a total of US$ 9.11 billion. The evaluation by the venture capital firm is based on the market capitalisation and past financing rounds of the companies analysed. Compared to last year, the valuation has risen by 55 %.

Many of the highly valued companies have their headquarters in Zug    Photo: Patrick Hürlimann

The ‘Top 50 Report’ does not include the total number of companies operating in Crypto Valley in 2024. This is because a new validation concept is currently being developed that ‘reflects the ongoing development of the industry’, according to CV VC. Their number totalled 1,290 in 2023.

CV VC also records the so-called ‘unicorns’, i.e. start-ups with a valuation of more than one billion dollars. 17 of these were based in Crypto Valley in 2024, which is four more than in the previous year. The venture capital firm analysed all private companies with this valuation, however, which is why the list also includes established companies such as the cryptocurrency Ethereum or the blockchain network Cardano.

Crypto Valley companies secured US$ 586 million in a total of 56 deals last year. Among others, the cryptocurrency Celestia and the crypto bank Sygnum benefited from financing totalling around US$ 100 million each.