On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
The average deal size in the crypto industry surged from $19 million last year to nearly $53 million in 2020, according to a new PwC report.
The consolidation of cryptocurrency-related companies surged massively in 2020, hitting a new record in deal activity, according to a new report by professional services network PwC.
The total volume of mergers and acquisitions in the crypto industry more than doubled from $481 million in 2019 to $1.1 billion in2020, PwC said in a Monday market overview, as seen by Bloomberg.
The average deal size in crypto surged from $19 million in 2019 to nearly $53 million, with crypto fundraising increasing 33% in overall value in 2020. Countries in the EMEA region saw a notable spike in the number of deals, while the Americas recorded a threefold growth in deal value.
Following new highs last year, deal activity in the crypto industry is likely to continue growing in 2021. PwC global crypto leader Henri Arslanian said that 2021 is “already on track to significantly surpass it from every single metric” as institutional players and high-profile investors are moving into the industry.
Alongside greater consolidation in crypto, PwC also predicted that the industry will become more institutionalized. The survey reportedly cited major gains in the crypto market — with Bitcoin hitting its all-time high of over $61,000 in mid-March — as well as the growing adoption of central bank digital currencies, stablecoins, decentralized finance and non-fungible tokens, also known as NFTs.
As previously reported by Cointelegraph, major global cryptocurrency exchanges like Binance, FTX and Coinbase made the top three acquisitions in the crypto industry in 2020.
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