📊 Crypto M&A is a whale game
Top 4 deals = 87% of all disclosed value in H1 2025, 66% in H2, 76% in H1 2026
Translation: The entire market moves on a handful of mega-deals. Everyone else is fighting for scraps.
This isn't diversification. This is structural concentration. A few whales write the checks, the rest of us watch liquidity dry up.
If you're betting on M&A momentum, you're betting on 3-4 names max. Know which ones.
Top 4 deals = 87% of all disclosed value in H1 2025, 66% in H2, 76% in H1 2026
Translation: The entire market moves on a handful of mega-deals. Everyone else is fighting for scraps.
This isn't diversification. This is structural concentration. A few whales write the checks, the rest of us watch liquidity dry up.
If you're betting on M&A momentum, you're betting on 3-4 names max. Know which ones.