I hope you are all having an excellent day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at the major downturn having taken over the crypto space, and how the numbers back up that the bubble is well and truly over.
Crypto Start-ups are No More
The figures and data is in, and it is not looking good for crypto start ups. The major financial hubs of the United States are no longer what they once were, with the number of new crypto start-ups having dropped by a staggering 98% since early 2022. Brooklings Analysis have done the research and it turns out the downturn in crypto, along with the tough and stringent attack on crypto from the authorities has spilled onto the innovation side. With so few new start-ups it is looking bad for the space, which during its peak had 120+ new start-ups in 2018 and 80+ in early 2022.
To add to the wow, apparently the number of new job listings in the field has also fallen off, with Las Vegas, Los Angeles and Boston, registered an over 50% drop in crypto job listings since the peak in 2022. Apparently Las Vegas is the worst impacted, with over 80% of a drop off. It is not all gloom and doom though when looking at the wider area, as places such as Washington saw a meagre 5% drop off, which in the grand scheme of things, is nothing concerning. New York meanwhile saw a 36% drop off.
How legitimate or not this data is remains to be seen, but it is interesting to see it laid out in an infographic. Considering the climate and the fact crypto has fallen hard since its highs in late 2021, coupled with the fact the SEC and other regulatory bodies have been going after the industry, this news is not too surprising. Seems like a good time to create a start-up for anybody interested in the space.
Have a great day.
CryptoGod-1.
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