Asia and Europe lead in the number of mergers and acquisitions in the cryptocurrency industry

According to a new PwC report, most of the fundraising, mergers and acquisitions in the cryptocurrency industry take place in Asia and Europe.

An analysis of the cryptocurrency ecosystem announced by CoinDesk Invest: Asia conducted by PwC showed that 41% of global fundraising transactions in the second quarter of 2019 took place in Europe. Over the same period last year, 34% of similar transactions of the global volume were conducted in Europe.

In the Asian market, this indicator also jumped significantly, reaching 26% of the global volume of transactions in the second quarter of 2019. Together, these two regions accounted for 67% of such transactions for the second quarter of 2019.

Meanwhile, the report indicates a significant reduction in the number of cryptocurrency fundraising transactions in the Americas. While the region accounted for 51% of global operations in the second quarter of 2018, only 28% of transactions were made in the Americas in the second quarter of this year.

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Globally, the total number of fundraising operations, as well as the amount of capital raised, fell by more than 50% compared to the first quarter of 2018. However, given the recent BTC price rebound, the value of global deals rose to $ 250 million in the second quarter of 2019, while a year ago this figure was $ 166 million.

Speaking of this trend, senior manager of the PwC fintech and cryptocurrency team Lucy Gazmararian said:

“The price of bitcoin is a trendsetter for the industry and investor sentiment. As the price of BTC recovered, we see that sentiment has become more positive and fundraising, mergers and acquisitions have become more active. ”

The PwC report said the firm was observing a similar trend in mergers and acquisitions, for which U.S. market dominance declined from more than 80% in the first half of 2018 to 48% in the second quarter of 2019. The number of mergers and acquisitions that have occurred in Asia and Europe has grown from 17% at the beginning of 2018 to more than 50% at present.

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In the report, the company noted a significant reduction in the number of such transactions in the cryptocurrency mining sector since the beginning of 2018, investment interest has shifted towards the development of the blockchain infrastructure. Gazmararayan added:

“From the first half of 2018, we see that investments in the mining sector are consolidating, while healthy activity remains in the direction of blockchain, exchanges and trading infrastructure.”

Recently it was reported that the regional divisions of PwC and Burger King are starting
accept bitcoins, and in June PwC launched
An updated Halo solution with the ability to audit cryptocurrencies.