Pitchbook analyst: Crypto industry mergers will increase significantly later this year, especially in the areas of exchanges, custodians, and others

On May 20th, Pitchbook analyst Robert Le said: "The resurgence of publicly traded tokens and the continued increase in institutional adoption will drive the increase in VC funding." It added: "Investment rounds are very competitive, especially in the early stages. To complicate matters, early-stage deals are valued at a higher rate than later-stage deals... We will see if this trend continues in the coming quarters." Furthermore, it expects that as the market matures, consolidation in the crypto industry will increase later this year, especially among cryptocurrency exchanges, custodians, and infrastructure providers.