A new PwC report is in the latest cryptocurrency news, showing that the interest in crypto fundraising is greater and greater as we speak. The majority of fundraising and M&A deals in the cryptocurrency industry are now happening in Asia and Europe – a statistic which shows that these markets are more dominant that the Americas which were seen as leaders before this.
Released on Thursday and going viral on many best cryptocurrency news sites, the PwC report shows a detailed analysis of the cryptocurrency ecosystem. It also found that even 41% of the global fundraising deals in Q2 of 2019 took place in Europe. As it stands, Europe saw 34% of the global fundraising deals in the same period last year.
Similar to this, the cryptocurrency fundraisers in Asia have grown a lot and now account for 26% of the deals in Q2 of 2019. So, when we see these numbers combined, we can see that the two regions account for 67% of the action in Q2 of 2019.
Meanwhile, the PwC report also identified a significant drop in the crypto fundraising deals in the Americas. Even though the Americas accounted for 51% of global deals in Q2 2018, their share went down to just 28% in the Q2 of this year.
On a global scale, the total number of fundraising deals and the amount of capital involved have both declined by more than 50% from a high of $408 million in Q1 of 2019. That being said, it is clear to see that the declines in the recent Bitcoin and altcoin news account for a lot of the action.
Given Bitcoin’s recent price rebound, the report indicates that there has been an uptick in the value of global deals, growing to $250 million in Q2 2019 from $166 million in Q1. The senior manager of PwC’s fintech and crypto arm, Lucy Gazmararian, commented on the PwC report and said:
“The price of bitcoin is the bellwether for the industry and for the sentiment of investors. As the price of bitcoin has recovered, we see the sentiment has become more positive and have seen more activities in fundraising and M&A activities.”
The report also added that the firm observed a similar trend in the realm of mergers and acquisitions, for which the US market dominance has decreased from over 80% in the first half of 2018 to 48% in Q2 of 2019.
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