IN THE PAST YEAR, 300 BLOCKCHAIN STARTUPS WERE CLOSED IN THE UK
The predominance of bearish sentiment in the market, the collapse of a large number of ICOs and the decline in HYIP around corporate blockchains made the outgoing year difficult for crypto-startups, which led to the closure of 340 startups in the UK, the British newspaper Sky News reported.
According to Sky News, at least 340 cryptocurrency and blockchain startups closed in the UK last year, which is 144% more than in 2017. At the same time, more than 200 closed companies were created in 2017 and 60% of them closed in the period from June to November 2018.
However, the number of registered startups continued to grow in 2018, reaching a value of 817 startups in November, which indicates the growth of the market, Sky News reports.
According to British analysts, the reason for the bankruptcy of such a number of startups is the decline in the price of the main cryptocurrency.