Pitchbook analyst: Crypto industry mergers will increase significantly later this year, especially in the fields of exchanges, custodians, etc.

Odaily Planet Daily News: Pitchbook analyst Robert Le said: "The recovery of publicly traded tokens and the continued increase in institutional adoption will drive an increase in venture capital." He added: "Competition for investment rounds is very fierce, especially in the early stages. To complicate matters, early-stage transactions are valued higher than later-stage transactions... We will observe whether this trend will continue in the coming quarters." In addition, it is expected that as the market matures, mergers in the crypto industry will increase later this year, especially among cryptocurrency exchanges, custodians and infrastructure providers. (Reuters) Earlier, according to PitchBook data, cryptocurrency financing increased significantly in the first quarter of 2024, with startups raising $2.4 billion in 518 transactions. This means that compared with the previous quarter, investment capital increased by 40.3% and transaction volume increased by 44.7%.