Blame the crypto winter: Web3 startup valuations on secondary markets are tanking as much as nearly 50%, data shows

• Crypto valuations on secondary markets are still falling sharply this year, Forge Global data shows.

• Chainalysis’ implied secondary-market valuation has fallen 30% this year, for instance.
• But shares for at least one crypto company, the NFT marketplace OpenSea, are on the rise.

Months after the fall of FTX, the crypto winter is still raging. And it’s especially poignant in secondary markets as the valuations of several late-stage companies like Chainalysis and Kraken have plunged more sharply than those for startups as a whole, according to data from secondary marketplace Forge Global.