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Crypto M&A Set to Notch Record After Doubling in 2020, Says PwC

Mining the World’s Second-most-valuable Cryptocurrency at Evobits I.T SRL
Photographer: Akos Stiller/Bloomberg

Deal activity in the cryptocurrency sector soared in 2020 and is likely to keep climbing this year, according to a report.

The total value of mergers and acquisitions in crypto more than doubled last year to $1.1 billion from 2019, and average deal size rose to $52.7 million from $19.2 million, PwC said in a market overview released Monday. A greater percentage of activity is taking place in Europe and Asia, and crypto fundraising increased by 33% in overall value from the prior year.