According to a new report from the PwC Professional Services Network, the number of cryptocurrency-related companies increased in 2020, setting a new record for transaction activity.
PricewaterhouseCoopers said in its market review on Monday, according to Bloomberg data, the total volume of mergers and acquisitions in the crypto industry more than doubled from $ 481 million in 2019 to $ 1.1 billion in 2020.
The average cryptocurrency transaction volume increased from $ 19 million in 2019 to almost $ 53 million, with total cryptocurrency collection increasing by 33% by 2020. EMEA countries saw a significant increase in the number of transactions, while America recorded a tripling of the value of the transaction.
After new highs last year, transactional activity in the cryptocurrency industry is likely to continue to grow in 2021. Henry Arslanyan, global head of cryptocurrency at PricewaterhouseCoopers, said 2021 “is already on track to surpass it significantly in all respects. “As institutional and established players, investors enter the industry.
In addition to expanding its integration into crypto, PwC also expected the industry to become more institutionalized. The survey reportedly marked significant gains in the cryptocurrency market – Bitcoin reached a record high of over $ 61,000 in mid-March – as well as the growing adoption of the central bank’s digital currencies, stable currencies, decentralized financing and other forms of financing. Swap tokens, also known as NFTs.
As Cointelegraph previously reported, major global cryptocurrency exchanges such as Binance, FTX and Coinbase were among the top three acquisitions in the crypto industry in 2020.