Messari: Total cryptocurrency M&A transactions have reached $11.98 billion this year

according to Messari data, the scale of mergers and acquisitions (M&A) in the crypto industry in 2025 is expected to be on par with the total of the past five years. As of now, the disclosed transaction volume has reached $11.98 billion, which is more than three times the total of any single year from 2020 to 2023.