Investment

Cryptocurrency mergers and acquisitions doubled to $ 1.1 billion in 2020, says PwC


The consolidation of cryptocurrency-related companies increased massively in 2020, setting a new record in transaction activity, according to a new report by PwC’s professional services network.

Total mergers and acquisitions in the crypto industry more than doubled from $ 481 million in 2019 to $ 1.1 billion in 2020, PwC he said in Monday’s market survey, as Bloomberg sees it.

The average size of cryptocurrency trade increased from $ 19 million in 2019 to nearly $ 53 million, while in 2020 the total value of cryptocurrency increased by 33%. Countries in the EMEA region saw a significant increase in the number of trades, while in the United States they saw a threefold increase in the value of trade.

Source: Bloomberg

After new highs last year, crypto transaction activity is likely to continue to grow in 2021. PwC global leader in cryptocurrencies, Henri Arslanian, said 2021 was “well on its way to significantly outperforming each metric” as an institutional players and high-ranking investors are moving into the industry.

Along with greater consolidation in cryptocurrencies, PwC also predicted that the industry would be more institutionalized. The survey allegedly cited significant gains in the cryptocurrency market – bitcoins have reached their all-time high $ 61,000 in mid-March – as well as the growing acceptance of the central bank’s digital currencies, stablecoins, decentralized financing and unimaginable tokens, also known as the NFT.

As previously stated by Cointelegraph, major global cryptocurrency exchanges such as Binance, FTX and Coinbase The first three acquisitions in the crypto industry in 2020.



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