Stay ahead with the most up-to-date count of how many cryptocurrencies exists worldwide. Comprehensive stats for investors & users.
The industry’s growth is rapid, but many firms are considering relocation from the US due to regulatory scrutiny.
How many crypto companies are there? The industry is still expanding, but the current numbers and trends suggest a bright future for crypto.
Top 5 Facts About Crypto Companies
The five main facts to know about crypto companies
- Globally, there are 10,993 companies in the cryptocurrency industry. (Golden)
- There are 2,721 cryptocurrency companies in the United States, making it the country with the highest concentration of businesses in this sector. (Crunchbase)
- CeFi, TradFi, VCs, NFTs, Data Analytics, Digital Wallets, DeFi, and Protocols represent the top sectors in which crypto businesses operate. (Fortune)
- Newly founded crypto firms are declining yearly, with 8,112 players entering the market in 2018 and only 984 launched in 2022. (CoreSignal)
- Crypto companies still cover a low part of the global work demand, with only 0.07% of the worldwide job postings requiring Web3-related skills. (Brookings)
The Sectors in which Crypto Companies Operate
Several sectors have emerged in which crypto corporations operate, catering to different aspects of the industry. As each sector grows, a number of top players have emerged, showcasing the potential for growth and success.
The global count of crypto companies stands at 10,993.
Regarding business activity, CeFi, TradFi, VCs, NFTs, Data Analytics, Digital Wallets, DeFi, and Protocols are the top areas to which crypto companies belong.
CeFi is a large industry for crypto companies, with Binance holding a dominant position in this sector thanks to its 150 million users.
Coinbase is the runner-up in user base, with 56 million registered users.
In the field of TradFi, PayPal’s accounts have surpassed 430 million. Thanks to its compatibility with digital tokens, the company has become a crypto firm.
In the same niche, 10 million people claim to use Robinhood as their primary trading platform.
Venture Capital companies are also extremely popular in the crypto field, with players such as Polychain Capital investing $200 million in the industry.
A single player does not dominate the VC market; for instance, Animoca Brands has raised $858 million in 19 rounds from 112 different investors.
NFTs, data analytics, digital wallet, DeFi
In the NFT niche, OpenSea has over 1 million users.
Within the same sector, YugaLabs has sold, since its inception, 55,000 NFT land deeds for a total revenue of $320 million.
In the Data Analytics area, Chainanalysis’ revenue for 2022 was equal to $22.5 million, the highest number recorded in this blockchain sector.
The digital wallet sector sees its primary player in Ledger, with a 2022 revenue of $53.4 million.
In DeFi, Uniswap Labs leads the way with a quarterly trading volume of $110 billion.
Crypto Companies Growth Over Time
Despite the declining numbers of new crypto companies formed each year, there is a clear overall growth trend in the crypto job market. In fact, the percentage of job postings mentioning crypto-related skills has steadily increased since 2010, with a peak in 2022.
The newly founded crypto businesses reached a market peak in 2018 on a global scale, with 8,112 entering the Web3 sector.
The number declined to 3,135 in 2019, showing a significant shift in the industry.
In 2020, the global crypto market saw the rise of 2,838 new companies.
During the 2021 bull run, 3,571 new crypto enterprises emerged, showing signs of recovery.
However, at the end of 2022, only 984 new crypto companies were formed, depicting a decline in investor interest.
Overall, the number of crypto job postings remains low. In fact, in June 2023, only 0.07% of the global job postings mentioned crypto-related skills.
This number peaked at the beginning of 2022, touching 0.11%.
However, it’s impossible to deny the existence of an upward trend: in 2010, less than 0.02% of global job postings mentioned crypto.
Source: CoreSignal, Brookings
Table 1: Crypto Companies Job Search Growth – Job Postings Mentioning Crypto-Related Skills (Brookings)
|Year||Percentage of Job Postings|
The Geographical Distribution of Crypto Companies
When we shift our focus to the geographical distribution of crypto firms, it is clear that the United States dominates in numbers. However, when looking at specific cities, London stands out as a major hub.
2,721 crypto companies are headquartered in the United States, making the country the first in the world regarding the number of registered entities.
This number is significantly higher than that of the European Union (EU), which stands at 1,404 crypto companies.
The European number appears even smaller than Asia, with an aggregated number of crypto companies equal to 3,626.
Within the Asian continent, India leads the way with 617 crypto companies.
Canada lags well behind the US in North America, with only 482.
In Latin America, only 406 crypto companies have their headquarters, signaling a low tendency in this area for crypto-related businesses.
Interestingly, if we move our focus to city areas, London currently employs 2,173 people in crypto companies, an absolute worldwide record.
New York, in comparison, has more than 1,400 crypto-related employees.
Despite fluctuations in the numbers of new crypto companies and job postings mentioning crypto-related skills, a clear upward trend in the crypto job market is evident.
With the U.S. leading in the number of crypto companies and London standing out as a major hub, it’s clear that geographical influence plays a significant role in crypto industry growth.
However, the global distribution shows that crypto is not confined to any one region, indicating its potential for universal impact in a truly decentralized manner.
Despite some fluctuations, there is a clear overall upward trend in the number of new crypto companies. However, the year 2018 saw the highest number of new companies entering the crypto market, and there has been a decline since then.
The job market has seen a steady increase in postings that mention crypto-related skills. This indicates that skills like blockchain technology understanding, cryptocurrency trading, and cryptography are in higher demand.
In terms of geographical distribution, the United States is home to the majority of crypto companies, followed by Asia. However, when considering specific cities, London stands out as a major hub for crypto companies.
In 2022, job postings mentioning crypto-related skills peaked at 0.094% but declined to 0.07% in 2023. Despite this, the overall trend shows an increase since 2010.
While certain regions like the United States, Asia, and London have a higher concentration of crypto companies, crypto businesses are found globally, reflecting the decentralized nature of the industry.