Crypto and Blockchain Deals Soared 131% in 2021

According to a report from The Block Research, the mergers and acquisitions in the crypto and blockchain sector have doubled in 2021 and the transaction volume rose over $6 billion. The Crypto asset manager Galaxy Digital was the first one to have a billion-dollar deal in this sector when it bought BitGo, for $1.2 billion. It contributed to an overall 131% spike in this sector in 2021. The report also stated that this year was a defining year for the blockchain and cryptocurrency sector.

 The Block research also named Coinbase, a cryptocurrency exchange platform, ‘the most aggressive participant’ in crypto-sector M&A with a total of 27 agreements. Other than this, Coinbase also stacked up the most amount of deals in 2021. 

The boom is a result of companies working together to strengthen their footing in the broader $2.3 trillion cryptocurrency market. With the support of Institutional waves and retail investment this year, the market is stretched out to over $3 trillion for the first time in 2021.