Crypto M&A Doubled to $1.1B in 2020: PwC

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.