The combined valuation of the top 50 blockchain-related firms in the Swiss canton of Zug — known as "Crypto Valley" inside the industry — vicious by nigh half in 2022.

Swiss investment firm CV VC debuted a new written report at the World Economical Forum in Davos, Switzerland on January. 22, giving an appraisal of the blockchain and cryptocurrency industries in the Crypto Valley during the concluding year.

Per the written report, the valuation and subsequent price drop in Ether (ETH), the native cryptocurrency of the Ethereum network, led to a 40% drop in valuation of the superlative l firms — from $42.6 billion in H1 2022 to $25.3 billion in H2 2022.

One-year Ether price chart

Ane-yr Ether price chart. Source: Coin360

But Ether toll isn't everything

CV VC director Ralf Kubli told a Cointelegraph contributor at the Globe Economic Forum that, while all crypto related firms are ultimately influenced past token prices, it is important to examine funding inflows and employment:

"Overall funding has increased, so the real money that flows into the projects that we count in the top 50 has increased, then that'southward basically a really important indicator for us that it continues to abound. And since [...] employment has increased amidst the superlative fifty — employment has increased overall in the space in Switzerland — then that's kind of how we gauge…"

Indeed, the written report notes that funding to the top 50 projects increased from $3.eight billion in H1 2022 to $iv billion in H2 2022. The top selected projects as well employ 733 of over four,400 crypto and blockchain professionals currently working in Switzerland and Principality of liechtenstein.

Last year saw new additions to the top 50

As Kubli further noted, the top 50 companies change every twelvemonth depending on their annual performance. 2022, for its office, saw the addition of several noteworthy projects to the list, including Libra — the global stablecoin projection start proposed by Facebook — cryptocurrency exchange Bittrex Global and Ethereum evolution house CasperLabs. The written report also noted several unicorns — startups valued at over $i billion —  including Bitmain, PolkaDot and DFinity

Overall, the report states that indicators are pointing to a maturation of cryptocurrency and blockchain industries, with 842 related firms now operating in Switzerland.