Despite Crypto Crash, Blockchain Startup Valuations Remain High

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Reza Pahlevi 27/07/2022 15:30 WIB

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Despite a significant drop in cryptocurrency trading volume since the beginning of the year, the FTX cryptocurrency trading platform still held a valuation of US$32 billion as of Q2 2022.

Blockchain and Cryptocurrency Startup Valuation (Q2 2022)

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Blockchain and Cryptocurrency Startup Valuation (Q2 2022)

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2022 was a bad year for crypto assets. For example, Bitcoin's price plummeted by more than 50% from the beginning of the year to July 2022.

However, the slump in crypto assets has not yet impacted the valuation of blockchain and crypto startups.

Citing data from CB Insights, the crypto trading platform FTX still had a valuation of US$32 billion in Q2 2022.

Ripple, currently embroiled in a lawsuit with the US Securities Exchange Commission (SEC), is still valued at US$15 billion.

Meanwhile, the NFT marketplace OpenSea has a valuation of US$13.3 billion. This valuation is still considered quite high considering the slump in NFT trading volume since the beginning of the year.

On the other hand, investment in blockchain and crypto startups has decreased. Investment totaled US$6.5 billion in Q2 2022, down 29% from US$9.2 billion in the previous quarter.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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