Some people just like a good bargain. With cryptocurrencies going through a bearish market right now, merger and acquisition activity by cryptocurrency companies, both among themselves and by others outside the sector, is hitting record levels.
Total blockchain- and crypto-related deals have risen more than 200 percent at an annualized rate this year, according to data from PitchBook that was compiled by JMP Securities.
JMP’s data don’t cover the average size of the deals because many of the details are private, CNBC reported. However, a majority of the M&A transactions were found to be global in nature and “relatively small” at less than $100 million. The PitchBook data includes majority investments, partial liquidation and full acquisitions. Read more here.