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The size of mergers and acquisitions in the blockchain and crypto industries has also grown from $ 19 million last year to nearly $ 53 million by 2020, according to a new PwC report.
According to the a new report of the professional market research firm PwC, M & A deals between crypto-related companies surged in 2020, reaching a new record in transaction activity.
The total volume of mergers and acquisitions in the crypto industry more than doubled from $ 481 million in 2019 to $ 1.1 billion in 2020, PwC said in its market overview report on Monday, reported by Bloomberg.
The average transaction size in cryptocurrencies has grown from $ 19 million in 2019 to nearly $ 53 million, with crypto funding increasing 33% in overall value by 2020. Countries in The EMEA region saw a significant spike in the number of transactions, while the Americas recorded a three-fold increase in transaction value.
Following new highs last year, trading activity in the crypto industry is likely to continue to soar in 2021. PwC’s Head of Global Crypto Research Henri Arslanian said that 2021 “is already on. Significant momentum surpassing all indicators ”as institutional investors and celebrities are eyeing this market.
Along with the overall growth trend of the market, PwC also predicts that the industry will become more institutionalized. The survey reportedly highlighted major gains in the crypto market – with Bitcoin hitting an all-time high of more than $ 61,000 in mid-March – as well as the race to adopt digital currencies. Central banking, stablecoins, decentralized finance, and NFTs are getting hotter and hotter.
CHK reported that major global crypto exchanges such as Binance, FTX and Coinbase made the three biggest acquisitions in this market by 2020.
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