UK Cryptocurrency Startups Suffer Dwindling Fortunes Amidst Market Decline

Cryptocurrency startups in the United Kingdom are struggling in 2018. The fringe benefits that came with changing a company’s name to reflect an interest in blockchain technology seems to have all but disappeared.

“Cryptomania” is at its Lowest Ebb

In the last months of 2017, cryptomania gripped large swaths of the global business scene. With ICOs raking in hundreds of millions of dollars and cryptocurrencies reaching new all-time highs, the emerging market became the focus of interest from several quarters.

Fast-forward to 2018 and much of the hype and hysteria has dissipated with cryptocurrency prices taking a beating for most of the year. This price decline seems to have also affected many stakeholders from mining companies to crypto hedge funds, as well as other cryptocurrency startups.

Argo blockchain attempted to write major headlines at the start of August, becoming the first cryptocurrency company to be listed on the London Stock Exchange. Despite the buzz generated…