The value of mergers and acquisitions (M&A) in the crypto sector more than doubled to $1.1 billion in 2020, according to a new report by PricewaterhouseCoopers (PwC).

  • The average deal size went from $19.2 million in 2019 to $52.7 million in 2020, according to PwC, with a greater share of activity taking place in Europe and Asia.
  • Furthermore, 2021 is “already on track to significantly surpass it from every single metric,” Henri Arslanian, PwC’s global crypto leader, said.
  • This will be driven by institutional players, large investors and cash-rich crypto platforms, he said.
  • PwC’s report predicts institutional investment in the crypto industry will continue to increase, thanks to the interest in non-fungible tokens (NFTs), decentralized finance (DeFi), central bank digital currencies (CBDCs) and stablecoins.

See also: PayPal to Buy Crypto Custody Firm Curv: Sources

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